UAE, Oman bilateral trade

Close on the heels of the UAE and Oman agreeing to set up two specialised trade committees, a business team from Oman International Trade & Exhibitions held talks with officials of Expo Centre Sharjah (ECS) on Sunday. After the meeting between senior executives from both sides, it was announced that the inaugural edition of BrandEX, the consumer fair for branded products, will be organised at Expo Centre Sharjah in December this year by Oman International Trade & Exhibitions (OITE). The visit of the OITE team and the announcement of the exhibition assume significance in the wake of the renewed thrust to trade and bilateral ties between Oman and the UAE following the visit of Sultan Qaboos of Oman to the UAE. The meeting was led by Saif Mohammed Al Midfa, Director-General of Expo Centre Sharjah, and Ahmed Saleh Baabood, Executive Chairman of OITE. It was also attended by Nick Hodge, Managing Director of OITE, and senior officials from Expo Centre Sharjah. “The visit of Sultan Qaboos of Oman underlines the fraternal ties between the UAE and Oman and is a big encouragement for trade and cultural exchange between the countries. We are also happy to announce the BrandEX consumer show during the visit of Sultan Qaboos,” said Midfa. “Such official visits also act as great facilitators of trade, helping set up joint projects, promote trade exchange and set up joint ventures in areas of common interest,” he said. Last week, the UAE and Oman agreed to set up two specialised committees on investment and transport to encourage joint investments and provide facilities for businesspersons in both countries. The resolution was reached in the third meeting of the UAE-Omani Business Council held in Abu Dhabi on Sunday. The UAE is Oman’s significant non-oil trading partner. More than 80 per cent of Oman’s non-oil trade is with the UAE. In 2011, the UAE market absorbed 40 per cent of Omani non-oil exports. The UAE investment projects in Oman are currently valued at Dhs 1.6 billion and number more than 3,300, according to Oman Chamber of Commerce and Industry. BrandEX will be a leading regional platform for top brands in footwear, leather, crockery, garments, electronics & household appliances, cosmetics, perfumes and hair care to target a fast growing consumer market in the country.