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France seeks to enhance trade relations with Oman

France seeks to enhance trade relations with Oman

MUSCAT: France says it is keen to expand the scope of its investments in the Sultanate Oman and enhance the currently ‘modest’ bilateral trade.
France is the 18th largest provider in Oman’s market and has so far made investments in a number of areas including oil and gas, water and electricity as well as construction and advertisement, said Jean-François Mirailles, Economic Counselor and Head of the Economic Department at the Embassy of France in Muscat.
The total value of investments that France has made in Oman so far (total investment stock) stood at OMR403.5 million in 2013, showing an increase of 18.2 percent compared to 2012.
Meanwhile, the annual investment flow from France to Oman reached OMR78.2 million in 2014, François Mirailles said.
According to the data provided by the official, Oman’s total investment stock in France was OMR6.4 million in 2013, down from OMR9.3 million in 2012.
While keeping an eye on investment opportunities in Oman and seeking to attract Omani investments, the Embassy of France has taken certain measures to enhance the volume of exports and imports between the two countries.
The economic counsellor explained that OMR210 million worth of goods were exported to Oman compared to OMR188 million in 2013.
Military equipment, petroleum equipment and aeronautical equipment are some of the items that France exports to the Sultanate, he said.
Oman’s exports to France reached OMR33.5 million in 2014, compared to OMR81.2 million in the preceding year, he noted, adding that France would welcome more products from Oman.