Korea emerges as Oman’s third largest trade partner

South Korea has emerged as Oman’s third largest trade partner, underscoring burgeoning economic ties between the two countries. According to Doho Kang, Korean Ambassador to the Sultanate, trade and economic relations between the two friendly nations have blossomed beyond the mainstay energy and construction sectors, to now encompass areas like ICT, medical care, fisheries, SMEs, vocational and technical training, research and science.
Speaking at the Korean National Foundation Day reception held on Monday, Ambassador Kang said: “Korea and Oman have cherished long historical and cultural relationship, especially initiated by Omani adventurers who travelled far to Asia and Korea, some 1,000 years ago, and have served as a window in each region. Since the establishment of diplomatic relations in 1974, we have forged very friendly and cooperative relationship bilaterally and internationally. Especially with the MoU signing in 2000 for the long term supply of LNG to Korea, Oman has grown to be the 3rd largest supplier of gas to Korea, benefiting interests of both countries. It is our great privilege that Korea has grown to be the 3rd trade partner with Oman and to serve as the 2nd largest export market for Oman.”
He also applauded the impressive strides that the Omani and Korean public and private sectors have made by working hand in hand in the implementation of Oman’s 2020 vision. “I am sure that in the coming days Korean companies, especially with their continuous involvement in the Duqm Development plans which will make for another success story to tell in Oman,” he stated.