Oman's Public Establishment for Industrial Estates (PEIE) hosted business-to-business (B2B) meetings between Omani industrialists with a high-profile delegation from Kuwait's Union of Consumer Cooperative Societies (UCCS).

 

The event came in line with the objectives identified by UCCS to get acquainted with the Omani industries and explore prospects of inking deals to supply Omani products to the Consumer Cooperative Societies in Kuwait, given the high quality and the competitive prices enjoyed by the Omani products, said a statement.

 

The meeting offered an opportunity for the Omani factories to expand their markets and export their products to the dynamic market of Kuwait, it said.

 

Hilal bin Hamad Al Hasani, chief executive officer of PEIE, stressed that PEIE undertakes significant efforts to explore and find new markets for the high quality Omani products and this event endeavours to identify a mechanism to advance entry of these products to the dynamic market of Kuwait. 

 

"We hope the fruits of this event will see agreements signed for the benefit of Omani products and the national economy," Al Hasani noted. 

 

When asked on whether the current oil prices will affect the Omani products, Al Hasani said: "Everyone knows that we are in a competitive market and the Omani products record a strong presence in this market. These products can cope with the global variables. Besides, the efforts of the Public Authority for Consumer Protection are seen and they are monitoring the domestic market significantly."

 

Basim bin Ali Al Nassri, PEIE’s director general of Marketing and Media noted that this meeting aspired to strengthen trade relations between the Sultanate and Kuwait and emphasise the significance of intra-regional trade development between the GCC countries. 

 

"The B2B meetings offer an opportunity for Kuwait’s Union of Consumer Cooperative Societies to get acquainted with the Omani products and explore opportunities to collaborate with the Omani factories and companies," Al Nassri said.

 

"The Omani products have reached a prominent status in Oman and overseas, thanks to the support of the Omani government under the leadership of His Majesty Sultan Qaboos bin Said. To support the locally manufactured products through Origin Oman Campaign, PEIE holds a series of Omani Products’ Exhibitions to motivate consumers – individuals and institutions – to purchase locally manufactured products," he said.

 

"Besides, these exhibitions disseminate awareness about the positive impact of purchasing Omani products in supporting the national economy. These exhibitions aim to apprise citizens and residents on the quality of Omani products and their competitive capabilities, encourage consumers both individuals and organisations to purchase local products and services, and generate more awareness on the importance of buying Omani products and its direct contribution in advancing the national economy."

 

Meanwhile, a memorandum of understanding was signed between PEIE and Ministry of Education aiming at spreading awareness on the significance of supporting locally manufactured products among the educational community.

 

Al Nassri informed that Omani Products’ Exhibitions (Opex) get organised outside the Sultanate on an annual basis by a committee formed by the PEIE, Public Authority for Investment Promotion and Export Development (Ithraa), and Oman Chamber of Commerce and Industry (OCCI).

 

Preparations are underway for the upcoming Opex 2016 which will take place next April in Addis Ababa in Ethiopia. 

 

"PEIE also offers value adding initiatives to meet the needs of the business owners and investors. Among these is the Industrial Innovation Centre which aspires at assisting industrial progression through research and development, and building capacity by encouraging local academic institutions to engage in applied industrial R&D," said Al Nassri.

 

"Besides, PEIE has introduced an initiative that aims at improving and advancing the packaging and designing of locally manufactured products for the SMEs and work is underway on developing products of some companies’ products," he said.

 

Saad Mubarak Alshabou, chairperson of UCCS, said: "Kuwait’s Union of Consumer Cooperative Societies performs several duties including representing all members before official and non-official local, Arab and international agencies; steering the Consumer Cooperative Movement Kuwait and protects and defends the material and moral interest of its members; raising consumer cooperative awareness in Kuwait and enhancing the Movement’s membership; regulating the Movement’s activities and coordinating and harmonising the work of all of its members; endeavouring to optimise performance level in member societies to ensure better consumer services; performing local and external purchases, funds the construction of productive units, endeavouring to reduce costs and improve service level; and controlling price rises of consumer commodities protects consumers and seeking to unify prices in all cooperative societies." - TradeArabia News Service