Doing Business in Oman

The objectives of the subject “International Trade and Business in the Sultanate of Oman” are the following:

1. To analyze the Omani Economy and Foreign Trade;
2. To know the business opportunities in the Sultanate of Oman;
3. To explore the Omani trade relations with the country of the student;
4. To know the Omani Trade Agreements;
5. To examine the profile of Omani businesspeople and companies;
6. To develop a business plan for the Omani market.

The Subject “Foreign Trade and Business in Oman” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Doctorate: Islamic Business, World Trade.

Masters: International Business, Foreign Trade.

Learning materials in or Omán Oman.

1. Credits of the subject “Foreign Trade and Business in Oman”: 1 ;
2. Duration: one week.

1. Corridor of the Ashgabat Agreement;
2. North-South Corridor (India-Russia);
3. Access to the:
   1. China-Pakistan Economic Corridor;
   2. India-Chabahar (Iran)-Afghanistan Economic Corridor;
   3. Kyrgyzstan-Tajikistan-Afghanistan-Iran Transport Corridor (KTAI-ECO).

Omani Preferential Access and Free Trade Agreements:

1. Oman and the Arab Economic Area;
2. Gulf Cooperation Council (GCC);
3. Greater Arab Free-Trade Area (GAFTA);
4. Indian-Ocean Rim Association (IORA);
5. Islamic Trade Preferential System (TPS-OIC);
6. BADEA;
7. US-Oman Free Trade Agreement;
8. Oman has Free Trade Agreements with India, China, South Korea, Singapore, Australia, the European Free Trade Association (EFTA), New Zealand, Thailand, the United States, the European Union and the MERCOSUR.

1. WTO
   1. Agreement on Trade in Services (GATS);
   2. Agreement on the Application of Sanitary Measures;
   3. Agreement on Technical Barriers to Trade;
   4. Agreement on Preshipment Inspection;
   5. Agreement on Safeguards;
   6. Trade Facilitation Agreement.
2. WCO
   1. Revised Kyoto Convention.
3. International Road Transport Union (IRU)
   1. TIR Convention;
   2. Guidelines on Safe Load Securing for Road Transport.
4. International Bureau of Containers and Intermodal Transport (BIC);
5. Chicago Convention (ICAO);
6. International Maritime Organization (IMO)
   1. Istanbul Convention - not a member.
7. Customs Convention on Containers (CCC, UN) - not a member.

Islamic Organizations:

1. Arab League (LAS);
2. Summit of South American-Arab Countries;
3. Asia-Middle East Dialogue;
4. Islamic Development Bank (IsDB);
5. Economic and Social Commission for Western Asia (ESCWA);
6. Organization of Islamic Cooperation (OIC)
   1. Committee for Economic Cooperation (OIC-COMCEC);
   2. Islamic Chamber of Commerce and Industry (ICCI);
   3. Islamic Centre for Development of Trade (ICDT);
   4. Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC).
7. Arab Gulf Programme (AGFUND);
8. Arab Trade Financing Programme (ATFP);
9. Arab Development Funds;
10. Afro-Arab Cooperation;
11. Arab Bank for Economic Development in Africa (BADEA).

Global Organizations:

1. Asia Cooperation Dialogue;
2. UN
   1. UNCTAD;
   2. ITC;
   3. WIPO.
3. WB;
4. WTO;
5. IMF.

The Sultanate of Oman.

1. The capital of the Sultanate of Oman is Muscat (1.2 million people);
2. Oman is a Monarchy;
3. Thanks to its strategic location at the Persian Gulf entrance, Oman is considered as a country of significant geostrategic value;
4. Oman shares borders with Yemen, Saudi Arabia, and the United Arab Emirates;
5. Abolition of Slavery in Oman: 1970;
6. Official language of Oman: Arabic;
7. Area of Oman: 309,500 square kilometers;
8. Omani Population: 4.3 million people.

Religion in Oman.

1. Islam Sunni is the main religion in Oman;
2. Maliki is the main school of Islamic Jurisprudence.

Oman belongs to the Arab Economic Area (Islamic Civilization).

Economy of Oman

1. The main natural resources of Oman are petroleum and natural gas;
2. The proven petroleum reserve (4 billion barrels) are not crucial, so the Omani Government wants to make Oman one of the leading natural gas Exporter;
3. The main products manufactured in Oman are textiles, cement, furniture, fertilizers, and fiberglass products;
4. The main suppliers are the United Arab Emirates (UAE), Japan, and the United Kingdom;
5. The main Omani export markets are China, Japan, and South Korea;
6. The currency of Oman: Rial (OMR).

The largest Omani companies are located In Muscat:

1. Suhail Bahwan, retail partner for firms such as Toshiba, Subaru, Seiko, Hewlett-Packard, General Motors, RAK Ceramics;
2. Saud Bahwan Group: Toyota regional distributor, Daihatsu and Hertz Rent-a -Car;
3. Zubair Automotive, Mitsubishi distributor, Chrysler, or Dodge.

The Mina Sultan Qaboos is the largest commercial port. The port is also a vital Foreign Trade centre between the Persian Gulf, Indian subcontinent, and Far East with an annual volume of 1.6 million tones.

The creation of the Jebel Ali Free Zone in Dubai - the United Arab Emirates, has made increasingly diminish its importance in the region.

Hasan Juma Backer Trading & Contracting has invested 700 million dollars in the dry port project of the Port of Abidjan.

Oman is a member of the United Nations (UN), International Monetary Fund (IMF), World Trade Organization (WTO), Group World Bank (WB), Gulf Cooperation Council (GCC), Greater Arab Free-Trade Area...

United States-Oman Free Trade Agreement (FTA):

(c) EENI Global Business School (1995-2023)
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