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Sultanate's Foreign Trade / Analysis Report
Muscat, December 28 (ONA)--- The statistical bulletin issued by the National Economy Ministry has shown that the Sultanate's foreign trade witnessed a 1.7% rise in the total value of commodity exports during the first six months of this year, compared to the same period in 2006.
The total value of commodity exports amounted to RO. 4155.2 million as at the end of June 2007, against Ro. 4085.6 million during the corresponding period in 2006.
This rise was attributed to a 73.6% increase in non-oil exports commodities, which amounted to RO.535.2 million at the end of June 2007, compared to RO. 308.3 million during the corresponding period in 2006.
Re-export trade also rose by 36.8% as at the end of June 2007 to RO. 485.9 million, compared to RO. 355.2 million during the corresponding period in 2006.
The Sultanate’s oil and gas exports declined by 8.4% during the first six months of 2007 to RO.3134.2 compared to RO.3422.1 million during the corresponding period in 2006, the bulletin said.
The United Arab Emirates topped the countries importing Omani non-oil exports as it imported RO. 229.9 million of commodities as of the end of June 2007 followed by the Republic of India with RO.63.8 million and then Kingdom of Saudi Arabia (KSA) with RO 34.2 million.
The UAE also topped the countries importing Omani exports "re-export" as it imported, as of the end of June 2007, RO. 263.2 million worth commodities followed by the Islamic Republic of Iran with RO.53.9 million and then K.S.A with RO. 21.4 million.
The commodities imports also recorded a 38.1% increase to hit RO .2710.4 as of the end of June 2007 compared to RO 1962.4 million during the corresponding period in 2006, the bulletin said.
The UAE also topped the countries exporting to the Sultanate, as the latter imported RO. 671.8 million of commodities from the former during the first six months of 2006 followed by Japan with RO.420.2 and then India with RO.187.4.
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Certificates of Tender Deposits/ Results
Muscat, Dec 28 (ONA)--- Certificates of tender deposits (issue No. 452) was held at the Central Bank of Oman (CBO) during this week. The total amount allotted was RO. 107 million.
A bulletin issued by the CBO stated that the average accepted interest rate of these certificates was 1.95% while the maximum accepted interest rate was 2.04%. The tenor of these certificates is 28 days so their maturity date is January 23rd 2008.
The certificates of deposit issued to licensed banks by the CBO as a monetary policy instrument aimed at absorbing excess liquidity at the banking sector in particular and maintaining stability of the interest rate and the money market in general. It should be noted that the interest rate on the repurchase transactions from current December 26th till January 1st 2008 is 5.87%.
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Winners of H.M. the Sultan’s Cup for the best five factories to be honoured tomorrow
Muscat, December 28 (ONA)--Under the auspices of Dr. Rajiha bint Abdulamir bin Ali, Minister of Tourism, a celebration will be held at Barr Al Jissah hotel tomorrow (Saturday) to honour winners of His Majesty the Sultan’s Cup for the best five factories for this year.
During the ceremony, 13 factories out of 34 participants at the competition will be honoured. While five factories will get His Majesty the Sultan’s Cup, another five factories will get the shield of the Ministry of Commerce and Industry and 3 others will be honored for their excellence in value added, quality and exports fields.
During the celebration Maqbool bin Ali Sultan, Minister of Commerce and Industry and Khalid bin Abdullah al Khunji, OCCI Chairman will deliver speeches. Two documentaries on the developments witnessed by the Omani industry and highlights on the distinguished 10 factories will be displayed.
On the sidelines of the event, an exhibition of the Omani companies and factories that have participated in this year competition will be organized.
It is worth-mentioning that H.M. the Sultan’s Cup for the best five factories is one of the initiatives taken by the government in a bid to encourage the industrial sector to improve the quality and quantities of their productions, providing job opportunities for job seekers and providing the required training for Omani human resources administrative and technical fields.
The technical committee of the competition has set up a number of criteria that provide small, medium and large sized enterprises with the opportunity to participate. These criteria include Omanization, marketing, replacing imported items with local products, the size of sales at the local market, the financial performance, the value added, the use of local materials, integration with other industries, production efficiency, the quality standards and meeting HSE requirements.
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PEIE / Meeting
Muscat, December 28 (ONA)---Maqbool bin Ali Sultan, Minister of Commerce and Industry and Chairman of Public Establishment for Industrial Estates (PEIE) Monday is to chair the meeting which will be held at the Ministry of Commerce and Industry headquarters.
The meeting will discuss a number of topics related to the industrial estates, the incentives provided to investors and providing the industrial estates affiliated to PEIE with appropriate infrastructure.
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Sultanate / Participation
Muscat, December 28 (ONA)--The Sultanate represented by the Ministry of Agriculture Saturday will take part at the training workshop which will be held at the Hashemite Kingdom of Jordan on the requirements to prepare the agricultural policies of the Arab countries to establish the Arab Customs Union.
The Sultanate will be represented at the three-day workshop by Eng. Khamis bin Ali bin Abdullah al Mafraji, Head of the Agricultural License Department at the Agricultural Quarries. Al Mafraji will also present a working paper on the Sultanate’s efforts to meet the requirements for the Arab Customs Union.
The training workshop will also discuss the agricultural policies related to utilization, maintenance and development of natural resources, auricular land passion, food security, having a strategic stock, consumption, supply, marketing, rates of agricultural products and the requirements for agricultural production. It will also discuss the foreign trade policies for commodities and agricultural products, the challenges in the way of preparing the national agricultural policies in the Arab countries to meet the requirements of setting up the customs union.
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Arab Rules and Certificates of Origin Seminar
Muscat, December 28 (ONA)---The Ministry of Commerce and Industry after tomorrow (Sunday) will organize a seminar at the Ministry’s headquarters on the Arab Rules of Origin and Arab Certificates of Origin.
The opening ceremony of the two-day seminar will be sponsored by Ahmed bin Suleiman al Maimani, Undersecretary of the Ministry of Commerce and Industry for Administrative, Financial and Regions Affairs.
The seminar aims at advising officials in charge of issuing the certificates of origin at the Ministry of Commerce and Industry, PEIE and Directorate General of Customs of the outcomes and the articles agreed upon by the Arab Committee for the Rules of Origin, said Abdullah bin Jumah al Shibli, Director of GCC Affairs department at the Ministry of Commerce and Industry, the Sultanate’s representative at the Arab Committee for the Rules of Origin. The seminar therefore aims at preparing the platform to implement these rules in the Sultanate after the enforcement date had been extended by the Arab League, he added.
In a statement to Oman News Agency (ONA), al Shibli said the Ministry of Commerce and Industry has made earlier preparations to implement these rules by printing the Arab Certificates of Origin which will replace the currently used certificates.
The seminar will also highlight the detailed rules related to agricultural commodities, processed agricultural commodities and textiles industry.
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Forum and Exhibition for the Producing Families
Salalah, December 28 (ONA)---The forum and exhibition for the producing families organized by the Ministry of Commerce and Industry in collaboration with the Public Authority for Craft Industries (PACI) will kick-off tomorrow (Saturday) at the wilayat of Salalah in the governorate of Dhofar under the auspices of Dr. Rasheed bin al Safi al Huraibi, member of the Majlis A’Shura for the wilayat of Salalah.
The organization of the exhibitions and forums for the producing families comes in response to the directives made by OCCI new board of directors in a bid to support the craft industries producing families in the Sultanate. The OCCI will provide every possible support for these families through organization of similar events and marketing their products or craft industries, Sabah bin Abdul Amir bin Ali, Director of the Specialized Committee at OCCI told Oman News Agency (ONA).
‘ OCCI will soon approve a number of plans to organize forums and exhibitions for the producing families during the period from February to April 2008 in a number of the Sultanate’s wilayats and governorates, he added.
‘ After Salalah, the Producing families forum and exhibition will be held in the wilayats of Nizwa, Ibri, Sur, Sohar and Al Buraimi, Musandam and Muscat governorates, he furthered.
During these forums, the products and craft industries of these families will be displayed including clay works, wood works, textile, palm tree leafs, leather industry, silver works, bone carving, sewing, embroidery and Bakhour manufacture, he added.
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