Ithraa, Oman’s inward investment and export development agency, will be leading a team of 15 high-profile Omani exporters' delegation to Morocco to participate in a series of business-to-business (B2B) meetings.
The meetings will be held from November 12 to 14 in Casablanca with Moroccan importers, agents and manufacturers all in an effort to develop new business opportunities and strengthen existing trade and investment ties in food processing, plastics, marble, industrial lubricants and building materials, said a statement.
Ithraa’s trade missions focus on specific sectors where Omani businesses have established expertise and where there is the greatest chance for success.
Morocco is a growing market for Omani exporters and its mission to Casablanca will help local firms take advantage of the many opportunities on offer in Africa.
Nasima Al Balushi, Ithraa’s director general of Investment and Export, said: “Opening new markets to increase Omani exports is at the heart of what we do and is key to creating jobs, growth and long-term prosperity for Oman.”
Given its economic assets, geostrategic position and political and economic stability, many business commentators see Morocco as an economic gateway to Africa, particularly markets in West Africa, territories of growing interest to many Omani exporters.
The latest trade statistics indicate the Sultanate's total exports to Morocco amounted to more than RO3.95 million ($10.48 million) in 2018 compared to RO3.40 million ($9.02 million) in 2017, an increase of 18.5 per cent.
Oman’s main exports to Morocco include aluminium wires, polypropylene, styrene polymer sheets, palm oil and aromatic products. Imports from Morocco to Oman amounted to RO3.4 million ($9.02 million) in 2018.
Ahmed Al Shanfari, general manager, Al Shanfari Marble said: “Ithraa provides an invaluable service to Omani exporters like marble as we evaluate and enter new markets around the world.”
“Making sense of today’s fast-moving global economy can be a challenge, but with Ithraa’s support we’re able to succeed. Indeed, their assistance with trade shows and B2B meetings with international buyers is invaluable,” he said.
Nasima Al Balushi added: “The priority for our Moroccan visit is to raise the sultanate’s business profile even further.” – TradeArabia News Service