Muscat: The Public Establishment for Industrial Estates (Madayn) organised on Thursday a workshop highlighting World Trade Organisation (WTO) agreements for the general managers of companies and factories based in the various industrial cities pertaining to Madayn. The workshop, which took place at Hormuz Grand Hotel, was organised in cooperation with Mashura Economic Consultancy.
The workshop aimed at disseminating awareness on the global variables affecting the manufacturing sector, familarising participants with the core objectives of WTO and its key agreements, and underscoring the growing global competition in order to improve the competitiveness of the industrial enterprises and enhance their productivity and quality levels.
The event also discussed the basic principles of WTO, which include trade without discrimination (national treatment). The organisation also plays a role in laying foundation for creating an open trade environment that ensures export flows without facing obstacles, and creating an ideal environment for attracting investment and encouraging investors through a series of agreements adopted by the organisations.
The key agreements of WTO include the General Agreement on Trade in Services (GATS), Agreement on Trade-Related Investment Measures (TRIMs), and Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS).