Country Profile
From The Report: Oman 2015
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The year 2015 marks the 45th anniversary of the accession of His Majesty Sultan Qaboos bin Said al Said and the establishment of the Sultanate of Oman. While less hydrocarbons rich than its GCC neighbours, an increased focus on diversification is driving economic growth in the sultanate. In its eighth five-year plan (2011-15), the government has increased spending on key infrastructure projects, which is enhancing Oman’s status as a logistics hub in the region. Expansion and development of the three major ports at Salalah, Duqm and Sohar are ongoing, and major upgrades to the international airports in Muscat and Salalah are also under way. In addition to this, the planned National Railway Network is set to cover 2244 km and will connect the sultanate’s three port cities with other GCC countries, while, further afield, trade agreements with emerging Asian economies look set to boost opportunities for Omani companies. This chapter contains a viewpoint from Sultan Qaboos bin Said al Said; and interviews with Lim Hng Kiang, Singapore Minister for Trade and Industry; and Roberto Azevêdo, Director-General, World Trade Organisation (WTO).

Articles from this Chapter

Overview

The sultanate leverages its location for big gains
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The year 2015 will mark the 45th anniversary of the accession of His Majesty, Sultan Qaboos bin Said Al Said and the establishment of the Sultanate of Oman, making Oman the longest continually independent Arab country in modern history. November 18 is Oman National Day, which coincides with the sultan’s birthday. The sultanate’s influence in the region is felt above all in the vital role the country plays as a neutral power in the region. Enjoying peaceful relations with its neighbours, Oman…

Viewpoint

Sultan Qaboos bin Said Al Said on setting the framework for modern development
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Our determination to move forward with confidence towards the broader horizons of comprehensive, sustainable development, remains undiminished. While committed to preserving our own values and identity, we are enthusiastic about developing international relations to reinforce the advances we have already made. Further progress, we believe, can best be achieved through hard work and the pursuit of knowledge, which will prepare Oman and its citizens for dealing with the emerging realities of the modern…

Analysis

Trade partnerships with emerging Asian economies look set to create new opportunities for Gulf companies and drive domestic demand
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Following a negative period for the international shipping market, in 2012 the container route from Shanghai to the Gulf through Dubai experienced the second-highest freight rate growth in the entire Asian region. This news was part of an emerging trend of the maturation of GCC-Asia trade. A relationship that was once just based on energy demand is diversifying and the GCC is seen as a viable market for Asian goods and investment, a crucial transit point – given its developed infrastructure –…

Interview

Roberto Azevêdo, Director-General, World Trade Organisation (WTO): Interview
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Interview:Roberto Azevêdo What are the most significant benefits of WTO membership for countries like Oman that rely on hydrocarbons for the bulk of their income? ROBERTO AZEVÊDO: WTO membership brings many opportunities for acceding countries, and can translate into expanded trade flows and enhanced market access within the 160-member block. Trading within a system of internationally recognised rules, and in stable and predictable conditions, also provides incentives for small and medium-sized…