South Africa, Oman to strengthen trade ties
A high-powered South African delegation led by South African Trade and Industry Minister Mandisi Mpahlwa was in Oman last month to boost the trade ties between the two countries. OER reports

‘We invite Omani industry to set up bases in South Africa, which is one of the most attractive destinations for investors, entrepreneurs and tourists. Though South Africa and Oman enjoy good political relationships, we have not fully translated the relationship with Oman’ Mandisi Mpahlwa,Trade and Industry Minister, South Africa

Oman and South Africa enjoy a close relationship. In order to aid the development of their economies, both the countries, are looking at forging a closer trade relationship. Currently, Oman’s imports from South Africa stands at RO7.5 million while exports are pegged around RO4 million.

South Africa is wooing Omani industry with a pro-active strategy. Senior government officials and corporate leaders from South Africa are coming to the Sultanate on a regular basis. Recently, to showcase the changing face of South Africa, the representatives from the leading publications of Oman were taken to South Africa on a familiarization trip.

Last month, South African Trade and Industry Minister Mandisi Mpahlwa led a delegation comprising of Deputy Foreign Minister Aziz Pahad, Deputy Defence Minister Mluleki George, representatives from the departments of education, defence, environmental affairs, tourism and minerals & energy to Oman. The delegation’s objective was to strengthen the economic and trade relations between the countries.

The delegation held extensive talks with HE Minister of Commerce and Industry Maqbool bin Ali Sultan, HE Minister for Foreign Affairs Yousuf bin Alawi bin Abdullah, HE Minister of Oil and Gas Dr. Mohammed Bin Hamad, Al Rumhy, OCCI President Salim bin Said Al Ghattami, HE
Adviser to Ministry of Commerce and Industry Mohsin bin Khamis Al Balushi and a number of senior officials and industry leaders.

During a media interaction, Mpahlwa said: “We are strengthening our trade ties with the Gulf and the Middle East. Oman, of course, is one of the major markets for South Africa. We invite Omani industry to set up bases in South Africa, which is one of the most attractive destinations for investors, entrepreneurs and tourists. Though South Africa and Oman enjoy good political relationships, we have not fully translated the relationship with Oman.” He added that there is tremendous scope for boosting the trade between the two countries in areas like oil and gas, infrastructure development, mining, information technology, tourism and telecommunications etc. South Africa is keen to provide Oman with full support to expand its mining sector.
Stressing on the close partnership between the private sector of both the countries, he said, “The businessmen from South Africa and Oman should join hands to build strong industrial houses in the Middle East and Africa region. The world is becoming increasingly interdependent, and it is vital for developing economies in the region to join hands to explore the positive forces of free trade, globalization and safeguard the interests of our countries.”

The two countries have already signed agreements on double taxation, prevention of fiscal evasion to taxes on income, and military co-operation. The new initiatives are going to shore up enhanced two-way economic and commercial ties between Oman and South Africa, the members of the Indian Ocean Rim Association for Regional Cooperation (IORARC).