Oman-China trade hits record high of $40.45bln

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Muscat – China’s Ambassador to the Sultanate of Oman, Li Lingbing, has announced that the relations between the two nations have witnessed remarkable development across various fields.

During a media briefing held by the Embassy of the People’s Republic of China in Muscat on Wednesday, Li Lingbing, Ambassador of the People’s Republic of China said, “I would like to briefly summarise the cooperation between the two countries since the establishment of diplomatic relations 45 years ago, especially in 2023. The friendly relations between China and Oman are deeply rooted in history. The stories of Zheng He and Abu Obeid are well-known in both countries. The sailing ship Sohar in front of the Oman Council Building and the Zheng He monument on the seaside in Salalah are the perfect symbol of the two countries’ friendship.”

She added, “By the end of 2022, the bilateral trade had reached an impressive US$40.45bn. Moreover, China stands as Oman’s largest trade surplus contributor and the third-largest trade and investment partner.”

Explaining the areas of cooperation during the past year, the ambassador said the Chinese company Bestong signed an agreement with the Salalah Free Zone, which will invest US$230mn in the first phase of the project, including the establishment of a ferrosilicon alloy project (annual production capacity of 90,000 tonnes), and a packaging paper manufacturing project (annual production capacity of 300,000 tonnes), and the marine water desalination project (annual production capacity of 2.2 million tonnes), indicating that this project is still in the preparation stage.

She informed that there are currently many areas of joint cooperation between the two friendly countries, including renewable energy. The Sultanate of Oman enjoys unique geographical advantages and abundant natural resources for wind and solar energy. China is leveraging complementary advantages and continuing to expand cooperation in the fields of green hydrogen, wind energy, photovoltaic energy, and electric cars.

“In the past year, with the joint efforts of both sides, China-Oman relations and practical cooperation have achieved fruitful results, with many more examples not listed here. China has always regarded Oman as an important partner in jointly building the ‘Belt and Road’ and is willing to continuously consolidate the China-Oman strategic partnership, deepening exchanges and practical cooperation in various fields. In the new year, we will make even greater efforts toward this end,” said Li Lingbing.