Oman, Kazakhstan discuss boosting bilateral trade

10 Nov 2014

(MENAFN) Oman said that it is currently in talks with the Republic of Kazakhstan to discuss the potential of increasing trade, tourism and business relationship between the two countries, Times of Oman reported.

The ties between the two countries have been slowly growing, especially since Oman was among the first Arab countries to establish diplomatic, economic and commercial ties with Kazakhstan following its independence from the Soviet Union.

Oman said that there are a number of areas that can be explored bilaterally, such as the oil and gas sector, mining, education and tourism, as well as discussing the many investment opportunities that can be offered for Omani businessmen to Kazakhstan, with several Omani businesses already establishing offices in Kazakhstan, including Oman Oil, which is working in the oil fields in the western region of the country, and MB Holding Company LLC, which has mining interests in eastern Kazakhstan.

In terms of trade, both Oman and Kazakhstan have products the other needs, with Kazakhstan being a rich source of wheat and meat, while Oman being an importer of fish, seafood and citrus fruits.

One of the most import topics to be discussed by both countries is increasing the transportation links between the two countries, which will help facilitate the relationship, especially for trade, with Kazakhstan currently a part of the Kazakhstan-Turkmenistan-Iran railway link, which could be used to transport the Kazakh products from Iran by ship to Oman, where they can be used locally or exported further to other destinations in the Arabian Peninsula or Africa.