The third session of Belarus-Oman Business Cooperation Council

Date: 10 April 2019

The Belarusian Chamber of Commerce and Industry hosted the third session of the Belarus-Oman Business Cooperation Council.

Participating in the Council session were Vladimir Koltovich, Minister of Antimonopoly Regulation and Trade of the Republic of Belarus, Vladimir Ulakhovich, Chairman of the Belarusian Chamber of Commerce and Industry, Raed Mohammed Abdullah Al Shehhi, Board Member of the Oman Chamber of Commerce and Industry, representatives of more than 60 Belarusian and Omani companies.

During the session, the possibilities of Belarus-Oman business cooperation development were discussed as well as the prospects of investment projects implementation and other issues related to bilateral interaction. The presentations of Omani companies, the investment climate and tourism opportunities of Belarus were delivered.

Vladimir Koltovich noted that Belarus is interested in developing bilateral relations with Oman and seeing Omani business coming to our country. Besides, Belarus remains fully committed to continue cooperation and restore the positions of trade turnover that were lost last year. The Minister of Antimonopoly Regulation and Trade underlined that Belarus had created favorable conditions for investing, guaranteed protection of private property, investments and the right to repatriation of profits.

In turn, Vladimir Ulakhovich expressed confidence that, despite the modest trade turnover, the two countries still have an untapped potential for cooperation. "We have developed constructive relations both in business and at the interstate level. We need to transform this into concrete projects," BelCCI Chairman said.

Given the size of Oman's import portfolio and its plans to diversify economy, Belarus can be an interesting partner to the country, Vladimir Ulakhovich said. First of all, according to him, the countries can cooperate in the supply of industrial products and halal food. Other areas of cooperation are the development of logistics services, investment, IT sector.

According to Raed Mohammad Abdullah Al Shehhi, Oman shows interest in Belarusian machinery and equipment, including for the transport sector and agriculture. The representative of the Oman Chamber of Commerce and Industry also said that a big logistics center is under development in Oman. The center will be responsible for the imports (including from Belarus, Russia and a number of other countries) and their further distribution in the region.

Following the Business Cooperation Council session, the representatives of Belarusian and Omani business community conducted bilateral negotiations on further cooperation in the fields of logistics, petroleum chemistry, safety and security systems development, tourism, the organization of exhibitions, fairs and business events, and in other spheres.

Based on BelTA