March 23, 2014
Muscat: The two-way trade between Oman and the United Kingdom surged ahead by 35.03 per cent to £771 million in 2013, over the previous year, mainly on account of a phenomenal growth in the latter's exports to the Sultanate.
The United Kingdom's exports to Oman soared to £555 million in 2013 from £451 million in the previous year, while the Sultanate's exports to Britain marginally came down to £116 million from £120 million during the period.
This figure excludes UK's service exports to Oman, including international transport, travel and financial and consultancy services.
"I think given the length and breadth of our commercial relationship, I would like to see a greater presence (of British companies) in Oman," Jamie Bowden, British Ambassador to the Sultanate told Times of Oman in an exclusive interview.
The major products of Britain's export to Oman include defence and security equipment and machineries.
Bowden said that the companies from the United Kingdom, which has a long history in developing railway lines, have been involved in the bidding process for Oman railway project right from the beginning.
"We expect UK companies to be consortium partners or sub-contractors during the life of this project," the ambassador said, adding; "There are also several niches for hi-tech, specialised products. UK's competences are well-regarded in areas such as security systems, operation, maintenance, management, training and inter-modal transport facilities."
Arup is engaged in a rail socio-economic impact study. Grant Thornton has also bagged a contract linked to Oman Railway project. "We are aware that several UK companies have expressed interest in training and empowering Omani nationals and are in dialogue with potential local joint venture partners. The acquisition by Babcock of the National Training Institute is a concrete step in this direction."
Referring to co-operation between the two countries in developing small and medium enterprises (SMEs), he said the United Kingdom has around 500,000 SMEs and these are vital for the economy, accounting for half of all private sector output and almost 60 per cent of private sector jobs.
"The UK's assistance to Oman's SME sector has been discussed at all levels." In particular, SME development is a key feature of a half-yearly ministerial level meeting, the UK-Oman Joint Working Group.
"Here, we explore together opportunities for co-operation, such as on training and mentoring programmes for SMEs, instilling entrepreneurship in the education system as well as how the British government has developed its own policies and legislation to help the sector grow and how this might apply in Oman. At the working level, we have organised field visits to the UK for Public Authority for SME Development, and other Omani agencies, in order to share experiences and expertise With British businesses and government ministries."
© Times of Oman 2014
