Oman-USA trade relations continue to grow stronger through the Free Trade Agreement (FTA), boosting trade and investment opportunities between the two nations.
Both Oman and the United States officials confirmed the FTA’s strong impact on boosting bilateral trade. However, Oman and the US continue discussions on customs tariffs affecting Omani products. Both sides aim to find a solution that benefits their growing partnership.
Pankaj Khimji, Advisor at the Ministry of Commerce, Industry and Investment Promotion, highlighted the strength of economic ties between Oman and the USA. He urged American investors to partner with Omani businesses. Together, they can discover new trade opportunities and launch successful joint ventures.
Moreover, Khimji highlighted the long history of Oman-USA trade relations, which dates back over 200 years. He emphasized that dialogue is key to solving any challenges and building a stronger trade partnership. Through continuous cooperation, Oman hopes to create new growth opportunities for both economies.
Oman exported goods worth over OMR463 million to the US. At the same time, Oman imported US goods valued at more than OMR506 million. These strong numbers reflect the success of the Oman-USA trade relations under the FTA framework.
Meanwhile, Ana Escrogima, US Ambassador to Oman, described the FTA as a strategic asset that must grow stronger. She shared that US direct investments in Oman had exceeded $16 billion. This impressive figure makes the United States the second-largest investor in Oman.
Furthermore, Khalid Al Shuaibi, Head of Nazdaher, stated that Oman-USA trade relations remain strong despite the 10% tariff issue. He noted that Omani products still enjoy better access to the US market than products from non-FTA countries.
Negotiations continue between Oman and the US to review the customs tariffs. Oman stresses that it holds no trade surplus with the US. In fact, US products easily enter Oman without any tariffs, supporting balanced trade flows.
Additionally, Saud bin Ahmed Al Nahari from the Oman Chamber of Commerce and Industry confirmed that the FTA committee is actively reviewing the agreement. Their discussions focus on protecting the private sector’s interests and promoting future cooperation.
Next month, an Omani business delegation will visit the United States. They will explore trade opportunities and showcase Oman’s growing investment potential. This visit will further deepen Oman-USA trade relations and strengthen business ties between both nations.
Thanks to the FTA, Oman continues building a stable, growing, and open trade relationship with the United States. The success of Oman-USA trade relations sets an example for other countries aiming for strong economic partnerships.
