Trade and Industry Minister Mandisi Mpahlwa and his counterpart from Oman, Bin Ali Sultan Maqbool, signed a trade and technical cooperation agreement in Pretoria on Monday.
Mpahlwa said the economic growth currently being experienced by South Africa allowed for many more partners and that Oman should be one of them.
South Africa was making it easier for other countries to invest.
”It is government’s view that investing in South Africa should be a smooth process without any unnecessary bureaucratic challenges and hindrances,” said Mpahlwa.
Maqbool said both countries could cooperate in the sectors of tourism, fisheries and shipping.
”I suggest a one- or two-day seminar be held in Oman in 2007 to present the investment opportunities available in Oman and the tourism services that Oman needs that could be provided by a South African company,” he said.
Oman imports from South Africa were $29,2-million in 2005, up from $25,7-million in 2004, an increase of 13,6%.
Oman’s exports to South Africa in 2005 were $24-million compared with $3,8-million in 2004, a more than fivefold increase. Maqbool said this was due to a sharp increase in crude oil exports by Oman to South Africa during 2005.
South Africa’s total trade with Oman in June 2006 amounted to R1,6-billion.
”However, there is a lot of room for improvement in our trade relations, especially involving re-export of South African goods and services from Oman and other countries in the region,” he said, a sentiment also shared by Mpahlwa.
South Africa will lead a business delegation to Oman next year February to discuss further investment opportunities. — Sapa