A meeting hosted by Oman Chamber of Commerce and Industry (OCCI) with a visiting delegation of officials from the World Trade Organisation (WTO) focused on efforts to facilitate trade flows between the Sultanate of Oman and its trade partners globally.
Dr Ngozi Okonjo-Iweala, Director-General of the WTO, attended the meeting alongside OCCI Chairman Faisal bin Abdullah al Rawas, among a host of local government officials and business leaders.
The meeting reviewed several free trade agreements, including the Fisheries Support Agreement, the Trade Facilitation Agreement, and the Investment Facilitation and Promotion Agreement.
The meeting touched on the challenges faced by the private sector in general and the Omani private sector in particular, and the role of the World Trade Organization in finding appropriate solutions to them.
In remarks to journalists, WTO’s Director General said the visit aimed to enhance aspects of cooperation between the two sides by exchanging information on ways to facilitate the trade process between Oman and the world. Discussions during the visit also explored ways for small and medium enterprises to contribute to job creation and stimulate Oman’s internal and external trade.
She highlighted the importance of the fisheries sector to the national economy and noted the potential of renewables, especially green hydrogen, in decarbonizing the economy.
She pointed out her current visit aims to ascertain Oman’s views on ways to implement the agreements of the Twelfth Ministerial Conference of the World Trade Organization and to prepare for the twelfth ministerial conference to be held in the UAE capital Abu Dhabi in the first quarter of the following year.
She emphasized that the World Trade Organization, in cooperation with member countries, seeks to find solutions to the trade challenges and issues facing the countries of the world, such as the challenges imposed by the coronavirus pandemic and the rise in food and energy prices, noting that the organization contributed to finding solutions to many issues during the past period, such as the lack of access to coronavirus vaccinations to some developing countries
She pointed out the efforts of the World Trade Organization at a time of natural disasters, as the organization plays an important role in this aspect by facilitating the movement of goods, goods and humanitarian aid, explaining that the organization seeks during the coming period to update its regulations and laws in line with the requirements of the first century.
The WTO periodically visits its member countries, including the Sultanate of Oman, as part of its monitoring and review process. The visits are usually carried out by WTO officials, who meet with government officials, business leaders, and other stakeholders to discuss the country's trade policies and practices, and to provide recommendations for improving its trade performance.
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