US sees Sultanate’s economic reform steps positively

Muscat: The US business community views positively and confidently the steps taken by the government of Oman under the leadership of His Majesty Sultan Haitham bin Tarik. These steps are aimed at boosting the economic climate, supporting the private sector and pulling more investments.

This was stated by Kimberly A Reed, President and Chairman of Export-Import Bank of the United States (EXIM). She noted that the US trade team in Muscat is making great efforts mainly aimed at acquainting the US business community with the investment opportunities available in the Sultanate.

In an exclusive speech to Oman News Agency (ONA), Chairman Kimberly Reed commended the promising sectors that were included in the Oman Vision 2040 affirming that EXIM can contribute to reinforcing economic and investment relations between the two countries.

The Oman Vision 2040 marks a renewed renaissance in the Sultanate and represents an opportune chance for starting a new phase of partnership relations between the Sultanate and the US particularly in the economic fields, the chairman of EXIM said underscoring the depth of the historic and strategic relationship binding the two nations in various economic, trade and investment fields.

The chairman of EXIM added that the future carries a multitude of promising opportunities for both sides that have the potentiality of boosting trade exchange and enhancing economic and investment cooperation. She called on businessmen in both countries to seize the opportunities and facilitations set forth in the free trade agreement signed between the friendly countries.

Despite the exceptional conditions the world currently witness due to the coronavirus outbreak, the EXIM was able to carry out a lot of initiatives and steps that contributed in one way or another to fostering the US relations with its strategic partners including the Sultanate. On this side, she said, we believe that the Export-Import Bank of the United States (EXIM) has some important sectors that can support the strategic relations between the Sultanate and the US and the value added fields.

She added that these sectors are: wireless communications, 5G technology, agriculture and aquaculture, biotechnology, wastewater treatment, manufacturing, medical sciences and mining all of which are promising sectors in the Sultanate. He explained that the US possesses advanced equipment that can be well utilized in many of these sectors. — ONA

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