WTO roundtable highlights Oman's role in supporting multilateral trade system
Muscat: The 13th World Trade Organization (WTO) Accessions Roundtable concluded its sessions by underscoring Oman's pivotal role in advancing the organization's mission and the technical support it has provided to facilitate the accession of several countries.
Held in Muscat, the meeting emphasized the Arab region's growing presence in the global economic landscape by addressing key issues related to WTO accession. As one of the foremost international forums, the roundtable shed light on the challenges and opportunities tied to integration into the multilateral trading system.
In statements to Oman News Agency (ONA), officials and experts highlighted the WTO's role in strengthening member economies and fostering an attractive environment for trade and investment. They reviewed Oman's successful 25-year journey within the organization, noting its active role in technical coordination and sustained support among member states, which has helped drive investment-friendly policies.
They emphasized that Oman's hosting of this international event reflects its unwavering support for global cooperation efforts, reinforcing its position as a key platform for economic dialogue at regional and international levels. The discussions also underscored the importance of Arab economic integration, investment promotion, and the growing need for fair and inclusive trade mechanisms that align with aspirations for sustainable growth and balanced partnerships.
Dr. Saleh Said Masn, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Commerce and Investment, stated that the 13th WTO Roundtable's significance lies in fostering constructive dialogue and cooperation within the multilateral trading system. He noted that the roundtable served as a platform for exchanging views and experiences among WTO members, particularly as Oman has worked in recent years to modernize its legislative framework and business environment in line with WTO standards.
Masn stressed that Oman has not merely joined the WTO but has been an active contributor to its development, providing technical support to several countries—especially Arab states—in their accession efforts. He added that Muscat's hosting of the event coincides with the 25th anniversary of Oman's WTO membership, reaffirming its commitment to strengthening its role in the organization, advancing global trade integration, and supporting Arab nations' accession to the international trading system.
On his turn, Sheikh Khalifa Ali Al Harthy, Undersecretary of the Foreign Ministry for Political Affairs, emphasized that WTO accession is a strategic milestone that opens broad horizons for growth and investment while enhancing competitiveness. He stressed the importance of fostering a more transparent and fair trade environment, enabling developing and emerging economies to actively participate in global markets and strengthen international partnerships.
He noted that public-private partnerships play a central role in achieving sustainable economic development, with the exchange of best practices and success stories helping aspiring nations overcome challenges and accelerate trade and economic reforms. He highlighted Oman's longstanding role in regional and international trade, leveraging its strategic geographic location and open economic policies.
Meanwhile, Pankaj Khimji, Advisor for Foreign Trade and International Cooperation at the Ministry of Commerce, Industry, and Investment Promotion, stated that Oman's WTO accession was a strategic milestone, enabling the nation to achieve numerous objectives, capitalize on opportunities, and enhance its economic standing.
He pointed out that Oman's investment environment has seen remarkable growth over the past 25 years since joining the WTO, with investments now exceeding $30 billion. These investments span diverse sectors, including food, logistics, oil and gas, and other areas that attract global capital.
He affirmed that Oman has signed multiple free trade agreements, creating an attractive and conducive investment environment backed by incentives and facilitations. The establishment of integrated industrial and free zones has also been instrumental in attracting investors across economic sectors, particularly in promising industries that bolster Oman's regional and international standing.
For her part, Hilda Ali Al Hinai, Secretary-General of the Arab-Swiss Chamber of Commerce and Industry in Geneva, emphasized Oman's vital role within the WTO, noting that its accession was a strategic step that supported the multilateral trading system and fostered a transparent, open investment climate.
She explained that Oman's active presence in the organization reflects its ambitious economic vision and commitment to expanding global trade relations, aligning with its plans for economic diversification and sustainable development.
Faisal Ali Al Hinai, Deputy Head of Oman's Mission to the WTO, highlighted the roundtable's importance as a high-level annual platform bringing together WTO members and aspiring nations. He noted Oman's initiatives in promoting Arab and international cooperation under the WTO's umbrella, solidifying its position as a hub for economic dialogue and trade diplomacy.
Yan Dong, Vice Minister of Commerce of the People's Republic of China, praised Oman's prominent role in the WTO, stating that the roundtable's convening in Muscat—coinciding with Oman's 25th accession anniversary—offered a unique opportunity to discuss accelerating other nations' WTO integration.
He commended Oman's rapid economic growth and sustained development, stressing the importance of trade flows and multilateral principles in enhancing global economic stability. China, he affirmed, stands ready to collaborate with all WTO members to safeguard and advance this system, contributing to global economic stability and shared development.
Ambassador Xiangchen Zhang, WTO Deputy Director-General, lauded Oman's active contributions to the organization, noting that its 25th accession anniversary marks an important occasion to reflect on achievements and future prospects.
He announced that the event compared Gulf Cooperation Council (GCC) members' economic visions and launched a joint Arab study highlighting best practices in completed and ongoing accessions. He also praised Oman's leadership in advancing economic diplomacy and regional prosperity.
He emphasized the importance of expanding WTO membership to strengthen global trade ties, commending Oman's contributions to economic integration and constructive collective action. He concluded by stressing the value of knowledge-sharing among members and welcoming Oman's hosting of such collaborative forums.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
5 hours ago
- Times of Oman
US strikes nuclear sites in Iran, Trump says
Muscat: US President Donald Trump said the US had carried out attacks against three nuclear sites in Iran, including the site in Fordo. Trump posted on his Truth Social account that a "a full payload of bombs was dropped" on the site, that is known to be located several dozen meters underground, making it more difficult to attack. According the post, all planes that took part in the strikes left Iranian airspace. "Congratulations to our great American warriors," Trump said, adding that it is now "time for peace." After announcing the US Air Force's airstrikes on three nuclear sites in Iran, US President Donald Trump re-shared a post on Truth Social which labels the site in Fordo, an underground nuclear site in Iran, as "gone." Despite carrying out airstrikes on nuclear sites across Iran, Israel had not attacked the Fordo site. US bunker-busting bombs, which use weight and sheer kinetic force to reach deeply buried targets, were needed to reach the underground site. Trump will hold a speech at the White House regarding the American airstrikes in Fordo, Natanz and Isfahan. The speech will take place at 10 p.m. US time (02:00 UTC/04:00 CEST).
Times of Oman
15 hours ago
- Times of Oman
Oman's development project funding soars by 72% to OMR11bn
Muscat: Significant progress has been reported in implementing the Tenth Five-Year Development Plan (2021–2025), which aligns with Oman Vision 2040, the Ministry of Economy said on Saturday. Development project funding has surged by 72 percent to OMR11 billion compared to the initial OMR6.4 billion approved at the start of the implementation of the plan. This significant growth follows the completion and launch of numerous infrastructure and economic diversification initiatives across various service and social sectors. These efforts are supporting the Vision 2040 goals of comprehensive, balanced development by upgrading public services, improving infrastructure, and enhancing investment in all governorates. According to the Ministry, 95% of the plan's 412 strategic programmes are already underway, spanning 14 national priorities and covering all the key pillars of the vision. The Ministry said that all programmes related to the youth development priority have come into force. These programmes aim to govern and regulate the youth sector, enhance youth participation, and develop capabilities and skills of youth. All the three programmes implemented focused on governance, youth engagement, and skill development. All the programmes under the health priority segment like building hospitals, enhancing health coverage, and digital transformation are being implemented. The ministry further said that under the education and scientific segment 65 of the 70 programmes are active and include capacity building, governance reforms, career guidance, and innovation promotion. In the citizenship, heritage and culture segment 43 of the 45 programmes have been launched. These focus on tourism data systems, national talent training and international cultural events. In the social welfare segment 25 of the 26 programmes are operational and these include housing support, disability-inclusive festivals, sports promotion and social insurance sustainability efforts. The ministry further said that under the Economy and Development segment 152 programmes are underway, 98% of which are already being implemented. These include in areas like advanced urban services, community organisation roles in housing, land development for investment, and decentralised economic management. All the 17 programmes targeting the private sector, investment, and international cooperation are ongoing featuring loan guarantees, SME growth programmes and cost optimisation in the oil and gas sector. Under the information and communications technology (ICT) priority, all the 20 programmes related have come into effect. This includes the national digital economy strategy, smart city networks, cyber awareness campaigns and digital upskilling programmes. The flagship initiative 'Makeen' has trained over 8,200 Omanis through 126 sessions and set the groundwork for Oman's future tech talent hubs. Under the economic leadership and management priority, all the six associated programmes are currently being implemented. These include developing a more advanced and efficient public finance management system, establishing a national registry for government assets, creating an empowered and effective body responsible for coordinating economic decisions and preparing a national policy guide, and updating economic legislation to stimulate activity and enhance competitiveness. Additionally, 60 out of 62 programmes under the economic diversification and financial sustainability priority have entered the implementation phase. They include initiatives such as empowering startups in Fourth Industrial Revolution technologies, expanding national data centre and government cloud services, strengthening innovation and operational efficiency in public institutions, unified global software licencing management, reviewing government service fees, monitoring the performance and competitiveness of the logistics sector, and maximising local value in transport, communications, and IT projects. Other notable initiatives include support for national industries and Omani products, modernisation of financial legislation in the mining sector, updating the Mineral Resources Law, promoting investment in mining, developing a digital mining platform, enhancing local company and SME participation in the energy and mining sectors, and advancing digital transformation in government services. Regarding the labour market and employment priority, 17 out of 18 programmes are being implemented. These focus on drafting the National Employment Strategy, improving labour policies and legislation, implementing an effective nationalisation (Omanisation) mechanism, rolling out replacement-linked training initiatives, offering specialised entrepreneurship programmes in cooperation with relevant agencies, and cultivating a culture of empowerment for national talent in the energy and mining sectors. Under the Sustainable Environment pillar, a total of 56 programmes have been outlined, with 95% (53 programmes) already in implementation. These include key initiatives such as updating environmental policies and legislation, sustainable biodiversity management, a national strategy for chemical and agricultural soil conditioner management, regulation of pesticides and fertilizers, enhancement of palm productivity, the establishment of a national environmental monitoring and control system, development of a national environmental information system to support decision-making, and programs to support fishing vessels and equipment. In the governance and institutional performance segment, 54 programmes are aligned with its priorities. As of the first quarter of 2025, 87% are in execution. Notably, 13 out of 14 programmes in the legislative, judicial, and oversight areas have been launched—covering anti-corruption, public fund protection, oversight capacity-building, governance of national resources and projects, and improving civil aviation security in line with international standards. Within the public administration governance segment, 34 out of 40 programmes are currently active. These include ensuring governmental compliance, evaluating governance in state-owned enterprises, and developing legal, regulatory, and policy frameworks for the telecom and IT sectors. Other ongoing efforts include establishing a national innovation and change management system, an innovation lab for performance improvement, integration of e-government services, performance measurement systems, and upgrading the infrastructure and technical support for national networks. Regarding development projects currently being implemented during the Tenth Five-Year Plan (2021-2025), the Ministry of Economy said that notable progress has been made. In the infrastructure sector segment, Phase 1 of Sultan Haitham City is 80% complete, with Phase 2 at 45% completion. 25% of the structural planning for Greater Muscat, Salalah, Nizwa, and Haima have been completed. In the road sector projects indicated varied completion rates: Khasab–Daba–Lima road at 40%, Adam–Thumrait dualisation at 32%, Al-Amirat's Al-Joud Street at 79%, Dhofar's Darbat tunnel at 90%, Sultan Qaboos Street dualisation in Salalah at 81% and various other road projects ranging from 20% to 86%. In the social services sector, construction of health facilities is progressing strongly: Sultan Qaboos Hospital (Salalah) is 58% complete, Madha Hospital 86%, Suwaiq Hospital 77%, and other facilities such as Wadi Bani Khalid, Samail, Falah, and Namah Hospitals are progressing between 3% to 82%. The new Infectious Diseases Lab has reached 91% completion. In the education sector, 69 new schools are being built across the Sultanate, with an average completion rate of 50%. In the commodity production sector date palm weevil eradication has reached a completion rate of 80%, palm seedling productivity at 95%, desert locust control at 90%, agricultural and fisheries development at 59%, and animal disease surveillance at 95%. Fishing port infrastructure upgrades are ongoing and the completion rate includes Daba Port (86%), Kumzar Port (45%) and data preservation in the oil and gas sector and smart monitoring of mineral output are also underway. Finally, in the productive services sector, major projects are nearing completion: the Oman Botanical Garden (95%), municipal service improvements in Dhofar tourist areas (95%), coastal development in Shuwaymiyah and Taqah (20%), and multiple urban promenade and tourism marketing initiatives all contributing to enhanced service quality, tourism appeal, and housing aid delivery, with some projects like the housing assistance program achieving 92% completion
Times of Oman
17 hours ago
- Times of Oman
Oman condemns Israeli attacks on Iranian territory
Istanbul: The Sultanate of Oman participated on Saturday in the extraordinary meeting of the Council of the League of Arab States at the ministerial level in Istanbul. The Sultanate of Oman's delegation was headed by Sheikh Khalifa bin Ali Al Harthy, Undersecretary of the Ministry of Foreign Affairs for Diplomatic Affairs. The meeting affirmed its condemnation of the Israeli aggression against the Islamic Republic of Iran, which constitutes a flagrant violation of the sovereignty of a UN member state and a threat to regional peace and security. He also stressed the need to halt this aggression and intensify regional and international efforts to reduce tensions and achieve a ceasefire and comprehensive calm.
