MUSCAT: Economic relations between Oman and Belgium are growing and will become stronger if the huge potential for cooperation in various fields is utilised, said a Belgian official.
Countries in the Middle East, especially in the Gulf region, are important markets for Belgium, said Kris Castelein, counselor – investment and trade, the Embassy of Belgium in Riyadh, Saudi Arabia. Belgium currently does not have an embassy in Oman.
Last year, a large delegation comprising around 300 members, led by Princess Astrid of Belgium, visited Oman on a trade mission which included the Omani-Belgian Businessmen Forum, Castelein told ‘Times of Oman’ in an exclusive interview during his recent visit to Muscat.
A number of Memoranda of Understanding (MoU) were signed last year and now it is important to do follow-ups to remain visible and use the existing potential, the official noted.
He said that the Port of Duqm Company, which is a joint venture between the government of Oman and Consortium Antwerp Port (CAP) in Belgium, is one of most well-known joint ventures between the two countries.
There are other known Belgian-Omani joint ventures and Belgian companies that are active in Oman in various sectors, Castelein said. These include a company involved in inspection and auditing and Carmeuse Group, a global leader in lime and lime-related products, he noted.
Phaeros, which is active in traffic management control in ports and related software, is working with the Port of Sohar, he said, adding, “Then we have the Oman National Transport Company which is working with a Belgian company in road safety software.”
Belgium is currently exporting around €160 million (OMR 67.2 million) and is importing around €85 million (OMR35.7 million) from the Sultanate, the official said.
The year 2012 was a top year for bilateral trade as export and imports witnessed a significant increase, Castelein said, adding that the volume of trade dropped afterwards partly due to the global financial situation but is picking up again now.
Imports from Oman are growing and there are many opportunities for cooperation not only in exports and imports but also in the field of services, he noted.
Gas and oil are extremely important sectors and Belgium can offer expertise in the field of green technology as well now that Oman is focusing on economic diversification, said the official.
