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Modi explores trade avenues with Omani business bosses
February 12, 2018 | 10:44 AM
by Times News Service
Photo: India's Ministry of External Affairs/Twitter
 
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Muscat: Narendra Modi, Prime Minister of India and his accompanying delegation met with the Omani businessmen on Monday, within the framework of his current visit to the Sultanate.

The meeting reviewed the available opportunities in the economic, trade and investment fields in both countries and means of enhancing the bilateral cooperation, besides discussing means of increasing the volume of investment between the Sultanate and the Republic of India.

The Indian premier gave a speech during the opening of the meeting at Grand Hyatt Muscat, in which he pointed out that India is witnessing a great development in the economic field, especially in manufacturing industries.

He said his country is embracing major international companies specialised in the field of information technology, in addition to a number scientific research centres.



He added that there are common factors that combine the Sultanate and the Republic of India to promote economic, investment and trade activities, pointing to the existence of mutual understanding between the Sultanate and India for centuries.

The Indian guest stressed the interest of the Indian investors to take advantage of the investment opportunities in the free and industrial zones in the Sultanate, expressing his hope that there will be reciprocal visits between businessmen in the two countries on a larger level to explore the available investment opportunities.

On his turn, Dr. Ali bin Masoud Al Sunaidi, Minister of Commerce and Industry said in a speech that the Sultanate and India had traded over the Indian Ocean for centuries before the world trade agreements, where the Omani and Indian traders were able to access Africa markets.

He pointed out that the trade relations between the two countries are developing with the presence of the ports of Sohar, Salalah and Dqum, which are suitable for developing relations, storing and distributing the Indian products such as rice, wheat and sugar.

He affirmed that the Sultanate is able to export more minerals to the Republic of India, which is witnessing a great expansion on various industries.

On his turn, Qais bin Mohammed Al Yousuf, Chairman of Oman Chamber of Commerce and Industry (OCCI) praised the strong historical, political and commercial relations between the two friendly countries, stressing the focus of Omani businessmen on setting up joint investments with the Indian companies.



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