Posted on February 23, 2019

The trade between Qatar and Oman has surged by over 100 percent in the first nine months of last year, demonstrating that the ties between the two friendly countries have reached new heights. 

The non-oil exports from Oman to Qatar surged to Omani Riyal (RO)283.6m at the end of September 2018, from RO129.9m at the end of September 2017, reflecting a rise of 118 percent, according to the data of Oman’s National Centre for Statistics and Information. Similarly, exports from Qatar to Oman also grew by 440 percent to RO246.8m during January to September period last year compared to RO45.7m in the same duration in 2017. The sharp rise in the trade between the two brotherly countries is a result to several measures taken to deepen the bilateral relations. 

Qatar Chamber has taken many steps  to encourage alliances and commercial partnerships between Qatari and Omani businessmen. Over 500  Qatari-Omani companies operating in both markets out of which 361  are operating in Qatar.  Qatar Chamber, the Ministry of Commerce and Industry, Qatar Development Bank and in coordination with Oman Chamber of Commerce and Industry had organised a four-day long ‘Made in Qatar’ Exhibition in December last year. The exhibition saw a great turnout as a number of visitors, especially from Omani businessmen, who toured the pavilions of the participating companies and met with their Qatari business counterparts.

On the sidelines of the exhibition, many agreements were signed between Qatari and Omani companies to establish joint Qatari-Omani ventures in both countries. The exhibition was aimed to promote the relations between the business sectors in both countries, increase trade exchange, present available investment opportunities and to work together to establish trade alliances and joint projects in both countries. Qatar Chamber had organised a visit to Muscat in June 2017, in cooperation with Oman Chamber of Commerce and Industry (OCCI) and had more than 140 Qatari businessmen. It resulted in signing agreements and Qatari and Omani partnership contracts in various economic and trade fields.

source: The Peninsula