Pakistani firms secure multi-million Dollar deals at Pak-Oman expo

October 18, 2024 (MLN): The first ever Pakistan - Oman Expo and Business Conference concluded in Muscat with millions of dollars of immediate export orders for Pakistani businessmen.

Pakistani companies in home textile, sports, rice, children garments, leather products, food, groceries, pharmaceuticals, plastics and chemicals signed export orders.

The two-day Expo was attended by more than thousand businesspersons from Oman and evoked admiration and fascination with Pakistani businesses and their products from both the private sector and the Government of Oman.

The Expo was unprecedented as 64 Pakistani business houses from 10 categories including textiles, clothing, fashion apparel, agricultural products, surgical instruments, sports goods, pharmaceuticals, handicrafts, hotel investment showcased their products for the first time in Oman under one roof.

172 business delegates from top Pakistani companies which included female entrepreneurs participated in the event.

With the spirit to bring more and more exhibitors from Pakistan and to have a low-cost-showcasing of Pakistani products, the Embassy provided free space to the exhibitors in the exhibition hall.

Visa processing was also done from Muscat.

During the two days of information packed activities businessmen and investors from Pakistan were briefed about the business and investment opportunities in Oman by investment promotion officers from Invest Oman and Oman Public Authority for Economic and Free Zones.

The conference also included presentations and interactive sessions involving prominent business lawyers, leading development finance institutes and consultancy firms.

Leading brains from the platforms of academia, finance, industry and trade were invited to steer an enlightening session of panel discussions about ways and means to enhance bilateral trade and commerce between the countries.

Besides, well-orchestrated B2B and B2C sessions meticulously planned informative sessions continued throughout the two days of the first ever Oman-Pak business forum. Ambassador Imran Ali himself moderated an exclusive session for small Pakistani businesspersons who intended to establish their businesses in Oman.

Senior Pakistani and Omani businessmen replied to the queries of young entrepreneurs about business feasibilities, company formation in Oman, tax systems and other legal requirements.

The Ambassador formed a committee of prominent Pakistani and Omani businessmen which could be approached from Pakistan and Oman to seek any information for establishing a business in Oman.

Mutual trade between Pakistan and Oman is below par and stands at $694.06 million which includes Pakistani exports of $203.34 million.

Major exports from Pakistan are rice, fresh meat, fruits, bed linen, sports goods and cotton.

Trade agreements signed in a short period of time during the expo makes it clear that there is a huge potential to increase exports from Pakistan to Oman.

Faisal Bin Abdullah Al Rawas, Chairman of Oman Chambers of Commerce and Industry inaugurated the event while Ambassador Ahmed Bin Hashel Al Maskari, head of GCC in the Omani Foreign Ministry, was the Chief guest at the concluding ceremony of the event.

Speakers from both sides were of the view that the cordial relations that the two sides enjoy should translate into much more trade and investment between the two countries.

Oman seeks to diversify its economy and reduce reliance on oil, while Pakistan aims to increase its exports and access new markets.

The Chairman of OCCI in his speech welcomed the exhibitors and business delegates from Pakistan and said that Pakistan and Oman can increase their trade manifold.

Saqib Fayyaz Magoon, VP FPCCI in his remarks said that the Chamber would be sending more delegations to Oman to explore business opportunities.

Ambassador Imran Ali said that the expo was a meeting of the minds of businessmen from both countries, it was about knowing each others markets and having mutual benefits.

He expressed his gratitude to the Government of Oman in providing facilitation in organizing the expo.

He said this forum marks a new chapter in the economic partnership between Pakistan and Oman.

Making the business and trade communities to meet each other frequently sparks new opportunities of trade and investment, he said.

He expressed his resolve to make this expo an yearly feature. Even after the conclusion of the Expo, most of the delegates are still in Oman and having intensive first time interaction with Omani businesses and government.

The Expo marks a new beginning of enhanced economic ties between the two brotherly countries.

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