08 February 2012
MUSCAT -- The trade and commerce relations between the Sultanate of Oman and the United Kingdom are on a steady growth and Omani exports to Britain increased by 22 per cent last year, according to UK Ambassador to the Sultanate Jamie Bowden. "The bilateral trade relations are constantly flourishing along with other diplomatic ties and the fact that more and more takers are present in Oman for UK products takes hope of further improvement," the ambassador told the Observer on the sidelines of a UK products campaign at the Lulu Bausher. According to a recent report issued by the UK Trade and Investment Department at the British Embassy in Muscat titled 'UK Trade in Goods with the Middle East and North Africa 2011 -- January-November 2011' based on the BIS analysis of data from Revenue and Customs, the total imports from the Sultanate amounted to £142,033,684 against £116,187,974 in 2010, shooting jump of 22 per cent.
The bilateral trade figures between the two countries also have shot up from £495,727,834 to £499,828,448 which marked a one per cent increase. In the previous period between January-June 2011 UK exports to Oman stood at £200 million which represented the same level as the same period in 2010.
UK imports from Oman were £95 million representing an increase of 70 per cent on the same period in 2010.
The report further says that Oman is the UK's 54th largest export market in the world and the UK's 9th largest trading partner in the Middle East. The UK is Oman's 9th largest importer, after the UAE, India, China, Germany, Saudi Arabia, Malaysia and Italy with a total market share of 2.1per cent. Oman exports power generating machinery and equipment, plastics in primary forms, electrical machinery, electrical appliances, other transport equipment, and articles of apparel and clothing accessories to the UK.
MUSCAT -- The trade and commerce relations between the Sultanate of Oman and the United Kingdom are on a steady growth and Omani exports to Britain increased by 22 per cent last year, according to UK Ambassador to the Sultanate Jamie Bowden. "The bilateral trade relations are constantly flourishing along with other diplomatic ties and the fact that more and more takers are present in Oman for UK products takes hope of further improvement," the ambassador told the Observer on the sidelines of a UK products campaign at the Lulu Bausher. According to a recent report issued by the UK Trade and Investment Department at the British Embassy in Muscat titled 'UK Trade in Goods with the Middle East and North Africa 2011 -- January-November 2011' based on the BIS analysis of data from Revenue and Customs, the total imports from the Sultanate amounted to £142,033,684 against £116,187,974 in 2010, shooting jump of 22 per cent.
The bilateral trade figures between the two countries also have shot up from £495,727,834 to £499,828,448 which marked a one per cent increase. In the previous period between January-June 2011 UK exports to Oman stood at £200 million which represented the same level as the same period in 2010.
UK imports from Oman were £95 million representing an increase of 70 per cent on the same period in 2010.
The report further says that Oman is the UK's 54th largest export market in the world and the UK's 9th largest trading partner in the Middle East. The UK is Oman's 9th largest importer, after the UAE, India, China, Germany, Saudi Arabia, Malaysia and Italy with a total market share of 2.1per cent. Oman exports power generating machinery and equipment, plastics in primary forms, electrical machinery, electrical appliances, other transport equipment, and articles of apparel and clothing accessories to the UK.
UK exports to Oman mainly consist of general industrial machinery and equipment, power generating machinery and equipment, other transport equipment excluding road vehicles, professional, scientific and controlling instrumentation and miscellaneous manufactured articles. "The UK is an open market and we are ready to cater to the needs of the region. A wider campaign on UK products can make the British products widely available at reasonable costs," the ambassador said.
© Oman Daily Observer 2012
