MUSCAT: Oman and the Philippines are seeking to deepen trade and investment ties by positioning themselves as regional gateways linking Southeast Asia with the Gulf Cooperation Council (GCC), as both countries pursue new business opportunities in food security, renewable energy, logistics and technology.
Senior officials from both countries used the Third Oman-Philippines Forum: Strategic Majlis in Makati City on Sunday to call for stronger private-sector partnerships, saying the two economies are well placed to serve as commercial hubs connecting ASEAN, the Gulf, East Africa and South Asia.
The initiative comes as bilateral trade has expanded sharply in recent years, with Omani Ambassador to the Philippines Eng Nasser bin Said al Manwari saying two-way trade has reached about $250 million, supported by increased high-level political engagement and new bilateral agreements.
Oman's Foreign Minister Sayyid Badr bin Hamad al Busaidy said the next phase of relations would depend on businesses translating diplomatic goodwill into long-term investments.
"We welcome the role of businesses, investors, entrepreneurs and innovators from both countries turning these opportunities into lasting ventures", Al Busaidy said.
"By creating stronger connections between our private sectors, we can expand economic cooperation and open new horizons for mutual benefit".
He said Oman and the Philippines possess complementary economies that offer opportunities across trade, logistics, tourism, energy, technology and investment.
Al Busaidy identified food security, agriculture, the blue economy and renewable energy as the sectors with the strongest immediate investment potential.
"I think the ripest, or the low-hanging fruit, is probably food security, agriculture, the blue economy and also the renewable sector of energy and energy transformation", he said.
He added that both countries are also exploring cooperation in mining, aviation, transportation, logistics, data centres and information technology as they seek to diversify economic relations beyond traditional sectors.
Al Busaidy said Oman could serve as a strategic gateway for Philippine companies seeking access to the GCC, East Africa, the Indian subcontinent and Central Asia, while the Philippines offers Omani investors a platform into Southeast Asia's fast-growing ASEAN market.
The two countries are also working towards investment protection and double taxation agreements aimed at encouraging cross-border investment and reducing barriers for businesses. Al Busaidy said Oman is also open to exploring a broader economic partnership or free trade arrangement with the Philippines.
Philippine Foreign Affairs Secretary Ma Theresa Lazaro urged businesses to view both countries as complementary investment platforms rather than standalone markets.
She said total trade between the two countries had expanded five-fold over the past year and called for joint ventures in deep-sea fishing technology, sustainable aquaculture, halal-certified food processing and digital services.
"To sustain this upward trajectory, our governments are strengthening our bilateral regulatory framework", Lazaro said.
"We must build on this solid foundation by maximising our positions as regional gateways and strengthening our commercial ties".
The forum also highlighted the importance of improving connectivity between Southeast Asia and the Gulf as governments seek to diversify supply chains following years of geopolitical disruptions.
Al Manwari said recent agreements covering health, agriculture, fisheries and trade, together with enhanced labour mobility measures, had strengthened bilateral cooperation and created a stronger foundation for investment.
He said the opening of the Oman Visa and Medical Examination Centre in Manila would streamline work visa processing for Filipino workers while supporting orderly and legal labour mobility.
Oman has also introduced visa-free entry for Filipino tourists travelling on direct flights between Manila and Muscat, a move expected to support tourism and business travel between the two countries.
"Every high-level visit, every agreement signed, every investment forum and every partnership initiative has brought our two countries closer together", Al Manwari said.
"Today, as we open this investment forum, we are laying the foundation for the next chapter of our shared success".
Al Busaidy also acknowledged the contribution of the Filipino community in Oman, describing it as an important pillar of bilateral relations that has helped strengthen confidence among businesses from both countries.
The forum included presentations by the Oman Investment Authority, sectoral discussions covering logistics, maritime connectivity, tourism, energy, technology and human capital development, as well as business-to-business meetings designed to facilitate commercial partnerships.
Officials said Oman is expected to host the fourth Oman-Philippines business forum in Muscat later this year as both countries seek to convert growing political engagement into concrete investment projects and expanded commercial cooperation.
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