Oman is rich in a number of natural resources that can provide feedstock to various heavy industries. These resources, if suitably exploited, can attract sizable foreign investment, notably in the fisheries sector.
Given this abundance of fisheries wealth, the question is: Why do some Omani companies import certain types of fish abroad when these are available in Oman’s waters.
Based on data published by the authorities concerned, Omani fish products were exported to 57 countries during 2019 compared with 49 countries in 2015. Thirty-five per cent of total exports were shipped to the GCC states, 41 per cent to non-Arab Asian countries, 4 per cent to South America, 4 per cent to other Arab countries, 7 per cent to African countries and 2 per cent to European Union countries, among others.
If this is the case, why does Oman’s leading fisheries company report losses annually? And why is the contribution of this vital sector to the annual GDP still paltry, especially since several companies are established in this sector, including Oman Fisheries Company in 1988?
These questions need to be answered transparently, given the reality that many expatriates continue to work in these companies, whether in fishing, selling or marketing operations.
According to the Ministry’s data, 80 per cent of total Omani fish exports are undertaken through foreign specialised companies, while Omani individuals working in these fields received only a 20-per cent share by transporting and marketing fish using vehicles fitted with refrigerated boxes.
Omani fish, as we all know, is popular in Arab countries as well as globally.
But most of the revenues from this sector go into the pockets of some beneficiary companies that harvest the Omani seas and carry out fishing, sales and export operations abroad.
Today, there are monitoring and supervisory processes in place to correct this trend, which we hope will provide more job opportunities for Omanis in the fields of fishing, sales and exports. This requires that the concerned authorities should provide Omanis with more modern tools, ships and equipment to join this vital sector.
Our fish exports to some blocs such as the European Union are declining dramatically. According to previous figures, only 2 per cent of the total Omani fish exports go to EU countries.
There are certain requirements and standards imposed by these countries on imports, whether agricultural or fisheries related.
Does this mean that we have not been able to achieve these conditions and standards and suitably market our sector and make it attractive to European markets? It seems Omani companies need to manage these issues more effectively.
No one denies that the fisheries sector is one of the main sectors in promoting economic diversification programmes, as it involves a sustainable resource that can contribute more to generating job opportunities for citizens and contributing to the country’s food security and GDP growth.
Through the development of this sector, investments in professionally run commercial projects will increase, while the aquaculture segment, alongside fish processing and exports will flourish as well.
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