Colombo: The Omani-Sri Lankan Businessmen’s Forum, being organized today at the National Chamber of Commerce and Industry, Sri Lanka, is exploring ways of forging commercial and investment partnerships.

Eng. Ridha Jumaa Al Saleh, Chairman of Oman Chamber of Commerce and Industry (OCCI), said he looked forward to an expansion of commercial and investment exchange, which experienced a stage of fluctuation over recent years.

By 2021, commercial exchange between the two countries stood at about $113 million, said Al Saleh, noting that the volume of exports accounted for $99 million and import $13 million. In 2020, commercial exchange between Oman and Sri Lanka stood at $44 million, compared to $75 million in 2019, Al Saleh added.

Meanwhile, Nandika Buddhipala, Chairman of the National Trade Chamber, Sri Lanka, said that commercial ties between Oman and his country are deep-rooted and that these relations have to be utilized to bolster business and investments. He hoped that such forums will develop economic and investment relations between the two countries.

On his turn, Omar Libi Amir, Ambassador of Sri Lanka to the Sultanate, said that the two countries boast a wide range of resources that can be utilized to augment investment and commercial exchange between their respective private sectors and business communities.

The forum included a presentation by the OCCI that displayed investment opportunities available in the Sultanate of Oman, namely in industrial, commercial, tourism, logistics and economic zones and free zones. The presentation also showcased incentives offered by the Omani government to investors wishing to operate in the Sultanate of Oman.

Likewise, the Sri Lankan side rolled out investment opportunities available in the democratic socialist republic, notably in economic sectors and the port city of Colombo.

During the forum, bilateral meetings were held between members of the Omani commercial delegation and their Sri Lankan counterparts. The meetings shed light on various aspects of commercial and investment cooperation.

The forum saw the signing of a Memorandum of Understanding between the OCCI and the Sri Lankan National Trade Chamber dealing with means of boosting business ties and developing commercial and industrial relations between the two chambers.