03 September 2015
MUSCAT: Bilateral trade between Oman and Taiwan stood at $3.82 billion last year, up from $3.7 billion in 2013, says a senior Taiwanese official.
"Taiwan is the second largest importer of Omani oil and, in addition to oil, we imported oil-related products, minerals and chemicals," said Kenneth K. M. Liao, representative of the Taipei Economic and Cultural Office in Oman.
Speaking to 'Times of Oman', Liao said that machinery, electronics, auto parts, computers, ICT-related and high-tech products topped the list of Taiwan's exports to the Sultanate.
"The representative office started its activities 38 years ago and has been making efforts to enhance trade and cultural cooperation in various sectors with Oman. I am glad to see the growth of Oman-Taiwan relations in all aspects," the official said.
He added that there is huge potential for bilateral cooperation in the field of ICT, small and medium enterprises (SMEs) as well as fisheries.
Exchange markets
In June, Oman's Capital Market Authority (CMA) signed a contract to engage the Taipei Exchange as expert consultants, Liao noted.
The contract covers consultancy assistance to be provided by the Taipei Exchange to assist in the design and development of capital market products and services in Oman aimed at supporting the growth of SMEs, according to Taiwan News.
The Taipei Exchange is a non-profit stock exchange entity based in Taipei and was founded in 1994. It operates markets and trading of equity, bond and other securities, and licenses firms and other entities that trade the securities it lists.
Free trade zones
Liao said that Taiwanese companies are keen to invest in the Sultanate in various spheres, especially in the country's free zones and refinery sector.
In addition, Taiwan has expertise and experience in the railway sector, which it is interested in sharing with Oman that is developing its national railway, he added.
According to him, Taiwan's knowledge of this sector is reflected in its bullet train, which runs at a speed of 300km/h (186 mph) on a rail line that runs along the west coast of Taiwan from Taipei to the southern city of Kaohsiung.
"We hope that Omanis go to Taiwan to see our infrastructure. A better understanding of our accomplishments would pave the way for cooperation in this field," said Liao.
Tourism
Leisure and medical tourism are other potential areas for collaboration as Taiwan is very advanced in these sectors, he added. In May, Taiwan held a successful workshop and travel fair in Muscat for local tour agents.
"Tourists can enjoy Taiwan's many attractions. Also, medical tourism in Taiwan is very advanced but, unfortunately, people here are not very familiar with it. High quality treatment is provided to patients at reasonable prices in Taiwan," the official noted.
Medical delegation
He said that last year, a delegation from Taiwan's prestigious Chang Gung Memorial Hospital planned to visit Oman to explore the opportunities for cooperation in the medical field but it coincided with the Sultanate's National Day holidays.
They may visit Oman later this year or next year, said the representative of the Taipei Economic and Cultural Office. Taiwan also has good quality universities which can cooperate with Omani universities and students, Liao said, expressing hope that relations between Taiwan and Oman would prosper further.
MUSCAT: Bilateral trade between Oman and Taiwan stood at $3.82 billion last year, up from $3.7 billion in 2013, says a senior Taiwanese official.
"Taiwan is the second largest importer of Omani oil and, in addition to oil, we imported oil-related products, minerals and chemicals," said Kenneth K. M. Liao, representative of the Taipei Economic and Cultural Office in Oman.
Speaking to 'Times of Oman', Liao said that machinery, electronics, auto parts, computers, ICT-related and high-tech products topped the list of Taiwan's exports to the Sultanate.
"The representative office started its activities 38 years ago and has been making efforts to enhance trade and cultural cooperation in various sectors with Oman. I am glad to see the growth of Oman-Taiwan relations in all aspects," the official said.
He added that there is huge potential for bilateral cooperation in the field of ICT, small and medium enterprises (SMEs) as well as fisheries.
Exchange markets
In June, Oman's Capital Market Authority (CMA) signed a contract to engage the Taipei Exchange as expert consultants, Liao noted.
The contract covers consultancy assistance to be provided by the Taipei Exchange to assist in the design and development of capital market products and services in Oman aimed at supporting the growth of SMEs, according to Taiwan News.
The Taipei Exchange is a non-profit stock exchange entity based in Taipei and was founded in 1994. It operates markets and trading of equity, bond and other securities, and licenses firms and other entities that trade the securities it lists.
Free trade zones
Liao said that Taiwanese companies are keen to invest in the Sultanate in various spheres, especially in the country's free zones and refinery sector.
In addition, Taiwan has expertise and experience in the railway sector, which it is interested in sharing with Oman that is developing its national railway, he added.
According to him, Taiwan's knowledge of this sector is reflected in its bullet train, which runs at a speed of 300km/h (186 mph) on a rail line that runs along the west coast of Taiwan from Taipei to the southern city of Kaohsiung.
"We hope that Omanis go to Taiwan to see our infrastructure. A better understanding of our accomplishments would pave the way for cooperation in this field," said Liao.
Tourism
Leisure and medical tourism are other potential areas for collaboration as Taiwan is very advanced in these sectors, he added. In May, Taiwan held a successful workshop and travel fair in Muscat for local tour agents.
"Tourists can enjoy Taiwan's many attractions. Also, medical tourism in Taiwan is very advanced but, unfortunately, people here are not very familiar with it. High quality treatment is provided to patients at reasonable prices in Taiwan," the official noted.
Medical delegation
He said that last year, a delegation from Taiwan's prestigious Chang Gung Memorial Hospital planned to visit Oman to explore the opportunities for cooperation in the medical field but it coincided with the Sultanate's National Day holidays.
They may visit Oman later this year or next year, said the representative of the Taipei Economic and Cultural Office. Taiwan also has good quality universities which can cooperate with Omani universities and students, Liao said, expressing hope that relations between Taiwan and Oman would prosper further.
© Times of Oman 2015
