MUSCAT: Investment Promotion and Export Development (Ithraa), in cooperation with the Sultanate’s Embassy in Egypt, on Wednesday a forum in Cairo for Omani and Egyptian companies to foster investment. More than 100 companies took part in the meeting.
The meeting was inaugurated by Dr Ali bin Ahmed al Issaee, Sultanate’s Ambassador to Egypt, and its Permanent Delegate to the Arab League (pictured). Dr Al Issaee said that the meeting aimed at developing the economic relations between the Sultanate and Egypt.
He also pointed out that there is a ministerial committee between the two countries that holds periodic meetings.
The Sultanate’s exports to Egypt stood at RO 16.83 million in 2016 while the Sultanate’s imports from Egypt stood at RO 48.01 million, according to the statistics of the National Center for Statistics and Information (NCSI).
Nasima al Balushi, Ithraa’s Director-General for Export Development, said that “We are in Cairo to introduce our hosts to a range of high quality, Oman-made products, forge better connections with existing business contacts and establish new relationships too, particularly in food processing, marble, pharmaceuticals and plastics”. “The visit has proven to be incredibly useful on a number of levels, as it is an excellent opportunity for participating Omani firms both to highlight their high-end offering in food production, marble, pharmaceuticals and plastics as well as communicate to our Egyptian counterparts that we are open for business,” said Ithraa’s Director General.
Egypt continues to maintain its position as the Arab world’s largest consumer market.
With an estimated 92 million citizens and one of the world’s fastest growing populations.
The demand for food products, in particular, is expected to continue to grow.
Research suggests that by the end of 2017, food sales at Egyptian supermarkets and hypermarkets are expected to have doubled from their 2011 levels.
During the visit, the Sultanate’s business delegation paid a visit during which it familiarized with the Egyptian market and products. — ONA