MUSCAT: Italy is seeking greater co-operation with Oman in a wide range of areas including infrastructure, industrial co-operation, tourism, renewable energy and water treatment to boost commercial ties and bilateral trade, which currently stands at around OMR200 million, said an Italian official.
Italian companies are already involved in a number of infrastructure projects in Oman, but Luca Carpintieri from the Embassy of Italy in Muscat believes that Italian companies have a lot more to contribute to the Sultanate’s plans for developing roads, railways and ports.
“Other fields of interest for bilateral collaboration are in water treatment and waste management sectors as well as sanitary equipment,” Carpintieri, deputy head of mission and head of the commercial office at the embassy, told the Times of Oman.
He also noted that Italy possesses cutting-edge technologies and systems in the field of renewable energy, particularly solar and wind energy, which it is keen to offer to Oman.
According to Carpintieri, the Italian presence has more than tripled over the last two years and there are now more than 40 Italian companies operating permanently in the country through partnership and joint-ventures with Omani companies and more firms are being registered to enter the market.
While the field of major infrastructure works is a key area of partnership, the Italian companies and professionals are providing products and services in a wide range of areas, including building industrial plants, telecommunication, photovoltaic energy and tourism, in addition to exports and imports, culture, art and the food industry, he said.
Carpintieri added that the agreement to avoid double taxation signed in 1998 has been a driving factor behind the Italian presence in Oman, which is well established also with some prestigious brands in the automotive industry, such as Ferrari, Maserati, Fiat, Iveco Astra, Piaggio and Aprilia’s motorcycles as well as Magneti Marelli.
Duqm is also an area of focus for Italian companies and that is why the southern European country hosted a delegation from the Special Economic Zone Authority of Duqm in September 2014 that introduced the existing opportunities to Italian companies, he said.
“We also see great potential for increasing co-operation between small and medium enterprise (SMEs) in Italy and Oman. SMEs are very important for Oman, while Italy is known all over the world for its specialised manufacturing districts with highly innovative technological content,” he noted.
He added that several Memoranda of Understanding are actually in force with the Oman Chamber of Commerce and Industry (OCCI) to expand business opportunities between the two countries and a number of official visits to Italy and Oman have taken place in this context.
“The Italian Embassy in Muscat is actively engaged in promoting the commercial ties between Italy and Oman not only by supporting the Italian and Omani companies but also by promoting the Italian language and encouraging young Omanis to study in Italian universities and specialised institutions such as those for design, food and music,” said Carpintieri.
