SA, Oman sign trade pact
Oupa Segalwe
21 November 2006South Africa and Oman have signed an agreement to promote trade and technical cooperation, paving the way for further growth following a recent spurt in trade between the two countries.
Trade and Industry Minister Mandisi Mpahlwa and his Omani counterpart, Maqbool Ali Sultan, signed the agreement in Pretoria on Monday. Ali Sultan's visit follows Mpahlwa's trip to Oman earlier this year.
"We must do more in terms of trade and increasing investment," Mpahlwa said, adding that trade between the countries had recently experienced "unprecedented growth."
Total trade between South Africa and Oman was valued at R1.6-billion in July 2006, up from R123-million in 2003. SA exports to Oman stood at R180-million in 2005, while imports from the gulf state totaled R792-million.
"This in itself represents a 61% growth in exports and 151% growth in imports from the trading year 2003," Mpahlwa said.
Addressing a business seminar attended by delegates from both countries ahead of Monday's signing, Mpahlwa outlined a number of steps the government would be taking to grow the relationship between SA and Oman.
These would included a trade mission to Oman in 2007, and visits to the country by Foreign Minister Nkosazana Dlamini-Zuma and President Thabo Mbeki.
Ali Sultan, accompanied on his visit by a 30-member delegation of Omani business people, called on Monday for the two countries to cooperate in sectors such as tourism, fisheries and shipping.
He said there was "a lot of room for improvement in our trade relations, especially involving the re-export of South African goods and services from Oman to other countries in the [Middle East] region."
Ali Sultan was due meet with Deputy President Phumzile Mlambo-Ngcuka and several Cabinet ministers, as well as the chief executives of Denel, Sasol and Mineral Africa, before travelling to Cape Town and Durban to address business seminars.
Source: BuaNews
