Opportunities abound for Oman-Lebanon trade ties

he Omani trade delegation recently concluded its visit to Lebanon after meeting with a group of officials in the chambers of commerce and industry. The visit, headed by Qais bin Mohammed al Yousef, Chairman of the Oman Chamber of Commerce and Industry (OCCI), culminated in a meeting with the Lebanese Prime Minister Saad al Hariri, who was keen to receive the 35-member delegation representing Omani private sector institutions and companies.
The Chamber of Commerce, Industry and Agriculture of Zahle and the Bekaa near the Syrian-Lebanese border was the starting point of the Omani delegation’s visit to Lebanon, meeting with a group of officials who stressed the great pioneering role of Oman in the Arab world and the depth of Lebanese-Omani relations.
They also stressed on the importance of the Omani delegation’s unprecedented visit to this city, hoping this short visit would not be the only one. They expressed their willingness to make the Omani delegation’s mission a success as well as promote commercial, industrial and agricultural cooperation between the Omani-Lebanese chambers of commerce and industry, with particular focus on agriculture in Zahle and Bekaa, known for its diverse crops.
During the brief visit, the Omani delegation reviewed the services provided by CCIAZ in raising awareness among farmers — male and female — on agriculture issues, and conducting training courses for them, in addition to providing standards and specifications services for Lebanese commercial and agricultural companies, as well as the government agencies operating in this field.
The Lebanese also expressed a keenness to strengthen economic relations, noting that the volume of trade exchange is modest between the two countries, which requires constant follow-up by both countries, especially in the next stage so that Omani and Lebanese companies can take part in the reconstruction process in Syria.
In Beirut, the trade delegation succeeded in strengthening its relations with Lebanese businessmen and entrepreneurs. The two sides believe that the upcoming period could witness a new shift in the existing trade and economic relations, especially since the Omani government has issued for several years a decision allowing the exemption of Lebanese citizens from entry visa to visit the Sultanate.
At the Omani-Lebanese Economic Forum — held at the Chamber of Beirut and Mount Lebanon in the presence of the Ambassadors to Oman and Lebanon, and a large group of Lebanese businessmen and heads of economic associations — Lebanon’s desire to maintain the distinct relations with the Sultanate was emphasised by the Minister Mohamed Shuqair, President of the Chambers of Commerce, Industry and Agriculture in Lebanon.
He stressed that the visit of the Omani delegation would have great positive results on bilateral economic relations, especially in building partnerships between the private sectors in both countries.
He added that there are many promising opportunities for investment, which are certainly open to the Omani friends to build fruitful and productive cooperation ties, noting that Lebanon is a unique business hub and Omani companies wishing to expand in the region are more than welcomed to set up headquarters in Lebanon.
Despite the political developments witnessed in the region, Lebanon is enjoying complete political stability and security while the government is launching new infrastructure development projects worth $11.8 billion approved by Cedar Conference, including oil and gas exploration projects. Moreover, the country is promulgating laws encouraging investment, most notably the Public-Private Partnership Law.
Accordingly, the Lebanese invited the Omanis to start the necessary preparations and establish alliances between Lebanese and Omani companies to invest in the projects on offer and in promising investment opportunities in the commercial or tourism field, stressing that Lebanon will play a key role in the reconstruction of Syria.
The Omani delegation’s visit succeeded in developing a common vision in economic relations, and enhancing meaningful investment opportunities in various sectors in both countries.
The Omani delegation took with it a positive impression that the Lebanese are determined to rise from the financial and economic crisis they are experiencing, which is an opportunity for Arab investors and businessmen in the region to take advantage of the current situation and enter into profitable ventures and investments in Lebanon.