MUSCAT — In continuation of its efforts to increase non-oil Omani exports, Oman Centre for Investment Promotion and Exports Development (Ociped) completed a market study for 32 Omani products during September 2009 and organised a seminar on ‘Exporting to Libya’ in association with BankMuscat on October 26, which was attended by two businessmen from Libya.

As a further step, Ociped invited prominent businessmen from Libya to visit the Sultanate. A Libyan delegation, comprising eight businessmen, is currently in Oman. A business interactive session was organised by Ociped at Grand Hyatt Hotel yesterday. The meeting was attended by Younis Salim Al Ajaili, Libyan ambassador in Oman; and businessmen from Libya and Oman.

Faris Nasser Al Farsi, acting director-general of export development, Ociped, said the meeting was the third in a series of steps taken by Ociped to increase bilateral trade. Farsi stressed that Ociped was focused on increasing trade and investments between the two countries and was more than willing to help the business community from both the countries.

He thanked the Libyan ambassador for his presence and cooperation in making the event a success and also mentioned that the Omani ambassador in Libya had throughout been very supportive of this endeavour. Earlier in October, the Omani ambassador in Libya, along with the Union Chamber of Commerce and Industry, had organised a seminar in Tripoli, which was well received among the Libyan business community. Mohammed Haweel Misrati, chairman of the Union Chamber of Commerce and Industry, said there was a lot of trust and acceptance of Omani products in Libya. There was a high degree of willingness in the public sector in Libya to promote trade and investment between the two countries.

Re-exports

According to Misrati, even though the current direct trade between the two countries was low, there had been a good amount of re-exports close to $57 million during 2008, which showed that there was a huge potential for direct trade.

Misrati said if the businessmen could resolve other issues, the trade between countries could also increase exponentially.

P. Viswanath from Avalon Consulting made a detailed presentation on the export opportunity for Omani products in Libya and also highlighted Oman’s strong manufacturing base. He also showcased some export orders that the Omani companies have received from Libya. This event was followed by a one-on-one meeting between businessmen from Libya and Oman, where the Omani exporters discussed both trade as well as investment opportunities with the Libyan delegation. The outcome of these meetings has been very beneficial.

Also, as part of this exercise, Ociped had organised visits for Libyan businessmen to various factories in Oman to make them aware of the manufacturing base in the country.

Ociped plans to have another round of delegation from Libya around the month of December or January.

Faris hoped that non-oil Omani origin exports to Libya would touch $80 million by 2013 from the current levels and assured the businessmen from Libya and Oman of Ociped’s assistance in enhancing trade between the two countries.