WT/TPR/M/418  
16 February  2022 
(22-1436) Page: 1/42 
Trade Policy Review Body  
17 and 19 November 2021  Original: English  
 
  
TRADE POLICY REVIEW  
OMAN 
MINUTES OF THE MEETING  
Chairperson: H.E.  Dr Athaliah Lesiba Molokomme (Botswana)  
CONTENTS  
 
1  INTRODUCTORY REMARKS BY THE CHAIRPERSON  ................................ .......................  2 
2  OPENING STATEMENT BY THE REPRESENTATIVE OF OMAN ................................ ..........  4 
3  STATEMENT BY THE DISCUSSANT  ................................ ................................ ..............  10 
4  STATEMENTS BY MEMBERS  ................................ ................................ ........................  14 
5  REPLIES BY THE REPRESENTATIVE OF OMAN AND ADDITIONAL COMMENTS  .............  35 
6  CONCLUDING REMARKS BY THE CHAIRPERSON  ................................ .........................  41 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies provided 
by Oman are reproduced in document WT/TPR/M/ 418/Add.1  and will be available online at 
http://www.wto.org/english/tratop_e/tpr_e/tp_rep_e.htm.  WT/TPR/M/418 • Oman  
 
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  1  INTRODUCTORY RE MARKS BY THE CHAIRPERSON  
1.1.  The third Trade Policy Review of Oman was held on 17 and 19  November  2021. The 
Chairperson, H.E.  Dr Athaliah  Lesiba  Molokomme (Botswana)  welcomed the delegation of Oman , 
headed by H.E.  Mr Qais bin Mohammed  Al Yousef, Minister of Commerce, Industry and Investment 
Promotion;  H.E Dr Saleh  Said Masan, Undersecretary for Commerce and Industry ; 
H.E. Mr Ambassador  Idris Al Khanjari, Permanent Representative of Oman  to the WTO; the rest of 
the delegation; and the discussant, H.E. Ambassador Mujtaba Piracha  (Pakistan) . 
1.2.  The Chairperson was pleased that, in addition to physical presence, the meeting also benefited 
from the Interprefy online connection, allowing for a wi der participation of the Membership, in 
particular of officials who could not make the journey from Muscat given the current circumstances.  
1.3.  The Chairperson recalled the purpose of TPRs and the main elements of procedures for the 
meeting. The report by Oman is contained in document WT/TPR/G/ 418, and that of the WTO 
Secretariat in document WT/TPR/S/ 418. 
1.4.  Questions by the following delegations were submitted in writing before the deadline:  Iceland; 
the European  Union; Brazil; Canada; Singapore; the United  States; Israel; the Kingdom  of 
Saudi  Arabia; and India . The following delegations submitted written questions after the deadline:  
China; Thailand; and Turkey.  
1.5.  At the time of its previous Review in 2014, Oman had experienced a high GDP growth rate, 
and have had  weathered well the global economic and financial crisis. Members had commended 
Oman's relatively open trade and investment regime, with generally low tariffs, and few non -tariff 
barriers. Members also had applauded Oman's firm commitment to the multilater al trading system.  
1.6.  During the review period, Oman had faced a double challenge from low oil prices and the 
COVID -19 pandemic. Oman's economy grew to a peak in 2016 at a rate of 5.1% before it began a 
sharp slowdown in 2017. The economy contracted by 0.8% i n 2019, and by a further 6.4% in 2020. 
As vaccine rollout gradually restored domestic activity along with the recovery of external demand, 
the economy is expected to grow by 2.5% in 2021.  
1.7.  In the wake of the COVID -19 crisis, Oman had adopted trade facilitat ion measures to ease the 
disruption. These measures included the practice of "direct" imports from the country of origin. 
Members have showed great interest in knowing the implementation details .   
1.8.  As has been recalled in the previous Review, diversifying the economy away from hydrocarbons 
has remained a challenging priority for Oman; the narrow economic, export, and fiscal base could 
have exposed the Sultanate to vulnerabilities. In this regard, Members had shown interest in Oman's 
National Program for Enh ancing Economic Diversification (a.k.a. the Tanfeedh Programme).  
1.9.  Resulted from low oil prices during most of the review period, government revenues had 
decreased by two thirds since 2014. During the review period, new taxes such as value added tax 
(VAT) a nd excise tax had been introduced to increase revenue. Members were interested in knowing 
more about the implementation of the recently introduced excise tax, especially on carbonate drinks . 
1.10.   Oman's tariff was based on the GCC's common external tariff, with a simple average at 5.5%. 
There were no tariff quotas. All tariff lines were ad valorem and bound. In 2021, there were 26  lines 
carrying rates higher than the corresponding bound rates.  
1.11.   Other areas dr ew Members' attention, as indicated in the ir advance written questions, include  
Oman's last enactment of the New Foreign Investment Law, and the incentives provided by the New 
Law; state -owned enterprises and the privatization programme; the government procurement 
regime; the Omanization policy; S PS measures on agri -food products; intellectual  property 
protection, as well as women empowerment.  
1.12.   Oman  received 243 advance written questions from 12  delegations for this review, out of 
which 209 were sent within the established deadline, covering a broad  range of topics. Prior to this 
meeting, Oman had already provided written replies to most these questions and the Chairperson 
was looking forward to hearing Oman's updates on these issues during the two -day meeting . WT/TPR/M/418 • Oman  
 
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  1.13.   This meeting was a  good opportunity for  Members to discuss in greater detail issues of interest 
to them and of systemic importance to the multilateral trading system. It was also an opportune 
moment for Oman to update the Membership on the impact of COVID -19 on its economy and 
measures it ha d taken in response. The Chairperson was looking fo rward to a fruitful exchange.  
1.14.   The Chairperson closed her introductory remarks by wishing Oman a very successful third 
Trade Policy Review.  
 
  WT/TPR/M/418 • Oman  
 
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  2  OPENING STATEMENT BY THE REPRESENTATIVE OF OMAN ( H.E. MR QAIS BIN 
MOHAMMED AL YOUSEF ) 
2.1.  On behalf of the Sultanate's delegation, I should like to thank our Chairperson H .E. Ambassador 
Dr Molokomme, Permanent Representative of Botswana to the WTO, as well as today's discussant, 
H.E. Ambassador  Dr Piracha , Pakistan's Permanent Representative to the WTO. We welcome their 
invaluable contribution.  
2.2.  Special thanks go to Mr  Alfaro, Director of the WTO Trade Policies Review Division and his team 
for their outstanding efforts and support during this exercise perio d.  
2.3.  I would also like to thank all WTO Members who have submitted questions and comments and 
delegations attending this morning's event. This reaffirms your interest in the development of Oman 
and its trade and investment policies.  
2.4.  It is also important to acknowledge and thank my colleague H.E.  Dr Saleh Said Masan, 
Undersecretary for Commerce and Industry  at the Oman's Ministry of Commerce, Industry and 
Investment Promotion , and the O man's Mission to the WTO for its dedication in making this exercise 
succes sful despite the ongoing challenges of the COVID -19 pandemic.  
2.5.  We also extend our congratulations to H .E. Dr Ngozi Okonjo -Iweala on her appointment earlier 
this year as WTO's Director  General. Oman looks forward to working constructively with WTO 
members un der the leadership of the newly elected Director  General.  
2.6.  On a different note, I would like to share with you our joy that this week's WTO Trade Policy 
Review coincides with Oman's National Day, celebrating as we do tomorrow the 51st anniversary of 
the Ren ewed Renaissance.  
2.7.  Indeed, I would like to take this opportunity to pay tribute to His late Majesty  Sultan  Qaboos 
bin Said, the father of our nation, who sadly passed away 10 January  2020 under whom Oman began 
its renaissance, achieving tremendous social an d economic progress and development.  
2.8.  Today, His Majesty Sultan Haitham bin Tarik builds on this remarkable legacy, leading Oman 
on its renewed renaissance journey of development in peace and prosperity. As a nation, we move 
forward with purpose along with strong and active faith.  
Trade Polic y Review Introduction  
2.9.  The Trade Policy Review mechanism is one of the WTO's most successful initiatives, helping 
achieve transparency and greater understanding of Members' trading policies and practices and the 
impact these have on the multilateral trading system. Reviews such as this lead to a smoother 
functioning of the multilateral trading system.  
2.10.   The reports by Oman and by the WTO Secretariat are before the distinguished delegates. 
They cover in a comprehensive fashion information on the Sultanate's economic, trade and 
investment policies.  
2.11.   During the period under review, Oman has continued to implement its trade policies 
consistently with its WTO obligations, maintaining an open, free and transparent economy.  
2.12.   Since our last TPR in 2014, the global economy has faced a numbe r of new challenges, in 
particular, COVID -19 pandemic . Despite the devastating impact of the pandemic, Oman's public and 
private sectors have shown great resolve and ingenuity, and stand together, committed to building 
a revived, rejuvenated, resilient, di gitally driven economy.  
2.13.   Under the wise leadership and guidance of His Majesty Sultan Haitham bin Tarik, and as part 
of the new State Basic Law, the Sultanate deploys a trade policy based on economic openness.  
Oman: An Overview  
2.14.   Politically stable and strat egically located at the nexus of east -west trade routes, Oman has a 
skilled and educated workforce, world -class infrastructure and business -friendly regulatory WT/TPR/M/418 • Oman  
 
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  framework. Equipped for the challenges of the digital economy, we are a competitive nation with a 
range of attractive investment opportunities . 
2.15.   As a matter of fact, Oman with its location, we cover almost 1.9  billion of world's population 
within four hours -flight from Oman, and with strateg ic location and equipped with a state 
infrastructure of three  international ports , four international airports, and all connected with world 
class roads, makes it a good place for starting a business.   
2.16.   With a population of 4.4 million we are a young nation, approximately 26% of our population 
is aged 15 to 29. And o f the 28,419  Omanis graduating from higher education in the 2017 -2018 
academic year, 61% were women.  
2.17.   We have a working population of 2.2  million. And there is evidence of growth in the current 
labour market with as many as 32,000 new jobs set to be create d for Omani high school leavers and 
graduates this year.  
2.18.   With regards encouraging entrepreneurship and trade, Oman's SME Development Authority 
saw the number of registered SMEs rise to 54,804 in June  2021, an increase of 23.2% compared to 
same period last year.  
2.19.   Oman has an ambitious economy with a trade surplus of US D 7.3 billion as of the end of 
June 2021. After a challenging 2020, our non -oil exports were valued at US D 6.2 billion in the 
first half of 2021 compared to US D 3.6 billion end of June  2020. Gr owth drivers were mineral and 
chemical products, base metals and prepared foodstuff and beverages. Our total GDP at current 
market prices in 2020 was US D 72.6 billion .  
Oman Vision 2040  
2.20.   Guiding our economy and economic development is Oman Vision  2040. Launched in January 
of this year, this is an ambitious development strategy that identifies 12  national priorities covering 
the entire spectrum of Omani life.  
2.21.   These include creating a strong administrative and regulatory framework that facilitates job 
creation, in addition to investment and business growth that are central to building new sustainable 
infrastructure.  
2.22.   Citizen well -being through healthcare and education and  ensuring fair distribution of 
development gains across the governorates are other key goals.  
2.23.   Oman Vision  2040 also aims to ensure that protecting the nation's natural resources and 
unique environment requirements are balanced with the Sultanate's economic  growth.  
2.24.   We are proud of this action -oriented plan designed to chart a new, bold and su stainable future 
for Oman.  
2.25.   Oman Vision  2040 targets several economic indicators including a commitment to raise real 
GDP per capita by 90% and real GDP growth by 5% annually over the course of the next 20  years.  
2.26.   Looking to enhance the contribution of fore ign direct investment to GDP by 10%, Oman 
Vision  2040 envisions our share of non -oil activities to grow to more than 90% of GDP and contribute 
40% to job creation by the private sector.  
2.27.   Priority sectors include , but are not limited , to manufacturing ; logistics; fisheries  and 
aquaculture; tourism;  mining ; and the low carbon economy.  
Manufacturing  
2.28.   Manufacturing is to play a significant role in Oman's economy with its GDP contribution 
projected to rise from 10.7% in 2021 to 15% by 2040.  WT/TPR/M/418 • Oman  
 
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  2.29.   Madayn, the national entity overseeing Oman's network of industrial estates saw total 
investment in its eight industrial estates reach US D 17.5 billion in 2020 . We are l ooking forward  the 
2021-2040 Industrial Strategy which envisages an annual growth rate of 5.3% at constant p rices.  
Logistics  
2.30.   Oman's National Logistics Strategy 2040 , launched in 2015 , has led to the implementation of 
several initiatives from the WTO's Trade Facilitation Agreement, helping further facilitate 
international trade.  
2.31.   Another efficiency initiative is the Directorate General of Customs' Bayan digital platform also 
launched in 2015, which integrates government services into a single electronic window allowing 
traders to submit electronic documentation to Customs officials .  
2.32.   The system has reduced the Sultanate's import clearance times to an average of seven hours 
and the time taken to complete export documentation procedures through the same platform has 
also been reduced to seven hours.  
2.33.   In fact, Oman has ranked top of the  GCC in the World Bank's Ease of Doing Business - Trading 
Across Borders Index five years in a row.  
Fisheries and Aquaculture  
2.34.   Fisheries and aquaculture remain key to Oman's diversification strategy. The government's 
dual aim is to boost food security while  increasing exports where possible.  
2.35.   In 2020, Oman Investment Authority restructured state -owned fisheries enterprises, merging 
Blue Waters, Al Wusta Fishery Industries and Oceanic Shrimp Aquaculture under the new umbrella 
Fisheries Development Oman.  
2.36.   Fresh  and frozen fish landings at numerous locations along the Sultanate's 3,165  km coastline 
totalled  580,240  tons in 2019, up from 279,160  tons in 2016 , representing an increase of 107%.  
Mining  
2.37.   Mining is also a government priority. Established in 2014 to reg ulate the sector, the Public 
Authority for Mining was merged with the newly created Ministry of Energy and Minerals in 
August  2020. 
2.38.   The 2019 Law of Mineral Wealth contains provisions relating to exploration and expropriation 
activities, as well as the type s of permits and concession agreements available.  
2.39.   The law increased the minimum mining license period from one year to five years and 
introduced flexible royalties.  
2.40.   Following the law's publication, in February 2020 the government announced 110  new mining  
blocks for exploration and investment and issued new licenses to several companies.  
Low Carbon Economy  
2.41.   Woven throughout Oman Vision  2040 are the government's ESG ambitions, making it the 
Sultanate's ESG blueprint.  
2.42.   In accordance with Oman Vision  2040 and  galvanized by the Paris Agreement and more 
recently the COP26 Summit, Oman looks to embrace the low -carbon economy. Indeed, the choices 
we make today will shape our trajectories for decades to come.  
2.43.   Since the launch of Oman's National Energy Strategy in 2 015, the Sultanate has embarked 
on a range of green energy projects with the goal of generating 30% of our electricity from 
renewables by 2030.  WT/TPR/M/418 • Oman  
 
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  2.44.   Also in 2019, a consortium of international companies secured financing for the 500  MW solar 
photovoltaic IPP a t Ibri - Oman's biggest solar PV project. The Asian Infrastructure Investment Bank 
loaned US D 60 million of the US D 400 million total amount, heralding AIIB's first renewable energy 
financing in Oman and the region.  
2.45.   A further example of Oman's ambitions in the low carbon economy is Hyport Duqm - a 500  MW 
green hydrogen plant slated for construction on the Special Economic Zone at Duqm.  
2.46.   Hyport Duqm will be established on land allocated by SEZAD for renewable energy projects, 
covering an area of 150  km2. 
2.47.   Hyport Duqm will also significantly contribute to the decarbonization of Oman's chemical 
industry, as well as provide gree n hydrogen and derivatives such as green ammonia to customers 
in Europe and Asia.  
2.48.   In August this year, the Ministry of Energy and Minerals in partnership with 13  government 
agencies, oil and gas operators, educational and research institutions and ports fo rmed Hy -Fly, a 
national hydrogen alliance which will work to support and facilitate the production, transport, 
domestic use and export of clean hydrogen.  
Public -Private Partnership  and Privatization  
2.49.   Oman has long recognized the private sector has the poten tial to add considerable value in 
the delivery and financing of services through public -private partnerships.  
2.50.   Modelled on international best practices, and since its launch in 2019, Oman's Public -Private 
Partnership Law has enhanced the Sultanate's appeal as a competitive investment destination in 
areas such as waste -to-energy, transport, ports, healthcare, education , renewable energy , and 
tourism sector .  
2.51.   Given Oman's successful track record of privatization in the electricity and power sectors , one 
stretc hing back as far as 1996 , we look to drive for further privatization and in doing so create a 
private sector empowered to play a more influential role in the development of the national economy.  
2.52.   To this end a new Privatization Law was issued in July  2019 in tandem with the  Public-Private 
Sector Partnership Law.  
Investment  attraction  
2.53.   The investment regime is another priority area for Oman's economic development. As a matter 
of conscious policy, the Sultanate actively promotes both domestic and foreign inves tment to 
enhance economic growth and development.  
2.54.   FDI in Oman end of Q2  2021 stood at US D 42.3 billion up from US D 39 billion for the same 
period in 2020.  
2.55.   In 2019, the Foreign Capital Investment Law was introduced which allows foreign ownership 
of up to 100% in almost all Omani economic sectors. This law has been designed to promote foreign 
capital investment in sectors including manufacturing, logistics, mi ning, tourism, fisheries, IT, 
healthcare,  and the low carbon economy.  
2.56.   Further facilitating investment in Oman is Invest Easy portal introduced in 2013. This is the 
Ministry of Commerce, Industry and Investment Promotion's one -stop-shop portal for registeri ng 
new businesses, reducing procedures and time to complete investor transactions.  
2.57.   Today, via Invest Easy, investors can obtain approval for more than  88% economic  activities , 
issuing one single document that includes all licenses and approvals from ten l eading authorities  
within minutes .  
2.58.   A further demonstration of Oman's strong commitment to opening up new routes for 
investment in the wealth of opportunities presented by Oman Vision  2040 is the Investor Residency 
Program, launched in September.  WT/TPR/M/418 • Oman  
 
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  2.59.   The progr am offers two extended residency options through real estate and commercial 
investment on a renewable five and ten -year basis.  
2.60.   We understand the effects of the pandemic on trade and investment will linger, and businesses 
are likely to remain cautious in co mmitting capital to new overseas productive assets. And we know 
that our agility in responding to the new demands of a post COVID -19 world, continuing to remove 
layers of bureaucracy, for example, will be critical to our continuing and future success.  
Fiscal reforms  
2.61.   A series of reforms were undertaken between 2014 and 2019 introduced to support fiscal 
consolidation.  
2.62.   Going forward, the Government targets primary fiscal balance by 2024 and will continue to 
pursue macroeconomic stability through a combinatio n of policies including the implementation of 
value -added tax which came into force April  2021, amendments to existing taxes and continuing 
efforts to improve the domestic business environment.  
2.63.   For example, announced in June  2020, Oman Investment Authorit y was established by 
merging the State General Reserve Fund, Oman Investment Fund and the government's ownership 
in all state -owned enterprises. As of June  2021, there were 29  companies in which OIA holds more 
than 40% shares.  
Medium -Term Fiscal Plan 2020 -24 and 10th Five -Year Development Plan 2021 -25 
2.64.   Complementing Oman Vision  2040 is the Medium -Term Fiscal Plan 2020 -2024 along with the 
10th Five-Year Development Plan 2021 -2025.  
2.65.   The Medium -Term Fiscal Plan has been developed as a holistic framework based on five pillars:  
support  economic growth; diversify and enhance government revenues; rationalize government 
expenditure and drive efficiency; enhance the social safety net; and strengthen public financial 
management.  
2.66.   The government will be periodical ly updating the Medium -Term Fiscal Plan based on changing 
macroeconomic and fiscal conditions and progress made.  
Government Response to COVID -19 – Economic Stimulus Plan  
2.67.   Announced in March this year , as a result of the pandemic, the Government, as a way of  
boosting the economy, launched the Economic Stimulus Plan which offers interest -free emergency 
loans, tax and fee reductions and waivers, the flexibility to pay taxes in instalments  and establishes 
a Job Security Fund to support citizens who lost jobs dur ing the pandemic.  
2.68.   The plan reduces land rents on the Special Economic Zone at Duqm and Madayn industrial 
estates by 25% for the period 1  January  2020 – 31 December  2022 and provides for a 50% 
reduction in fees for environmental licenses renewed in 2021.  
2.69.   Also contained in the Economic Stimulus Plan is provision for foreign companies to own land 
over 5,000  m2 or leased land that is either commercial or commercial -residential, tourism or industry 
related.  
2.70.   I would like to point out that the Economic Stimulus  Plan is a direct result of conversations 
held with local as well as international businesses.  
2.71.   As a result of fiscal measures taken and a relative rise in oil prices, in October, S&P Global 
Ratings revised Oman's rating in outlook to positive from stable.  The credit rating agency also 
affirmed the country's 'B+/B' long and short -term foreign and local currency sovereign credit ratings.  
2.72.   Moody's Investor Service also has changed the outlook on Oman's credit rating to stable from 
negative and affirmed its rat ing at Ba3.  WT/TPR/M/418 • Oman  
 
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  International Trade Policy  
2.73.   I should now like to focus on developments in Oman's international trade policy. The 
Sultanate's trade policy is rooted in the principles and rules of the multilateral trading system. As an 
ancient trading nation, Oman is conscious of and recognizes the importance of a rule -based 
international trading system.  
2.74.   Since its accession to th e WTO in November  2000, Oman's trade policy has conformed, in 
both letter and spirit, to the principles and rules of the WTO. Our trade regime is free and liberal, 
transparent,  and business -friendly.  
2.75.   The broad objectives of Oman's trade policy can be summarized as: expanding foreign trade 
resulting in the Sultanate's economic development; increasing the growth of tradable goods and 
services;  securing greater international market access for Omani goods and services;  growing 
employment opportunities for Omanis;  ensuring the availability of goods and services at reasonable 
prices in the domestic market;  protecting the interests of consumers; and raising the national living 
standard.  
2.76.   Oman has a simple, unco mplicated tariff regime and tariffs remain an instrument of Oman's 
trade policy. These apply to imports from most favoured nation except for imports from WTO 
Members with whom Oman has regional trade agreements or free -trade arrangements.  
2.77.   Oman is a genuin e believer in the basic principles of the multilateral trading system and strong 
supporter of the WTO.  
2.78.   We reaffirm the principles and objectives set out in the Marrakesh Agreement establishing the 
WTO. In this regard, Oman reiterates its commitment to the  Doha Development Agenda.  
2.79.   The WTO has stood the test of time and been a force for the expansion and liberalization of 
world trade. However, it needs further strengthening to fulfil its role as a bulwark against 
protectionism.   
2.80.   Oman stands firm to collabor ate and ensure the success of MC12 in that it delivers fair, 
meaningful,  and tangible outcomes for the entire membership and further enhances the role of the 
WTO.  
2.81.   The interests of developing countries must remain at the heart of the WTO and in any 
negotia tions via the Special and Differential Treatment provisions as an integral part of WTO 
Agreements.  
2.82.   Oman is a member of the GCC Customs Union and the Pan -Arab Free Trade Area. We also 
have a free trade agreement with the United States and, as part of the GC C, an FTA with Singapore 
and EFTA member states.  
2.83.   However, Oman believes in the primacy of the multilateral trading system and considers 
regional and preferential trading arrangements as complimentary to the multilateral trading system.  
2.84.   The Sultanate is grateful to the WTO Secretariat and to other international organizations for 
providing all  important technical capacity building and assistance to Omani officials. However, we 
recognize there is always a need for further training , particularly  for government officials to attend 
trade policy courses and when possible to intern at the WTO Secretariat.  
2.85.   To conclude, I thank you, Madam Chairperson, for presiding over today's session and convey 
my deep appreciation to the distinguished delegates for  sparing time to participate in Oman's Trade 
Policy Review.   
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  3  STATEMENT BY THE DISCUSSANT  
3.1.  I wish to warmly welcome the delegation of the Sultanate of Oman led by H.E.  Mr Qais 
Mohammed A l Yousef , Minister of Commerce, Industry and Investment Promotion who is attending 
this meeting virtually and thank him for the very informative and ins ightful opening  statement, 
H.E Dr Saleh Said M asan, Undersecretary for Commerce and Industry . Ministry of Commerce, 
Industry and Investment Promotion and the Oman Mission in Geneva led by H.E . Idris Khanjiri.  
3.2.  I would also like to take this opportunity to congratulate Sultanate of Oman on its 51st National  
Day of the Renaissance, which it celebrates tomorrow, and wish the people of Oman happiness and 
prosperity.  
3.3.  I wish to thank you Chair for your opening remarks and I also wish to convey my thanks to the 
Secretariat for all for their hard work in this TPR. We know from experience what a hard exercise it 
has been in these exceptional circumstances of the pandemic when physic al missions have not been 
possible.  
3.4.  I feel honoured  to be the discussant at this Trade Policy Review of the Sultanate of Oman. Our 
two countries share not only maritime borders but a long historic relationship based on brotherhood, 
commerce and a peoples' exchange.  
3.5.  An on a personal note I would tend to concur with people who have alluded to Oman as the 
Switzerland of the Gulf, which in my view is not in the least because of its pleasant mountainous 
geography, but its political stability and constancy in the  region. The Sultanate which has been 
established 50 years ago, is classified by the World Bank as a high-income country and has an 
impressive track record of political stability1.  
3.6.  For centuries, because of their geographical location, Omanis have been a n outward looking 
and a seafaring nation and this has influenced the nation's development and growth even in the 
recent past. The Government has been on the path of important reforms since 1995 to globalize, to 
liberalize and to diversify its economy as to  lessen its dependence on oil and gas. For over 
two decades not Oman has been an active member of the WTO.  
3.7.  The Government's impressive journey over the last 50 years cannot be summed up in my 
allocated speaking time. But I will try to the best of my abilit y to highlight the important steps and 
reforms made, the challenges faced by Government and its way forward.  
3.8.  During the period under review, the Government strategy outlined in its 9th five-year Plan from 
2016 to 2020 was to further enhance its economic d iversification . The 10th five-year Plan from 2021 -
2025 is an outset of Oman 2040 vision which focuses on five key sectors which are manufacturing, 
transport and logistics, tourism, fisheries, and mining.  
3.9.  The environment and the geographical location  of the country played a role in the choices of 
these five key sectors. Calling Oman just a Gulf State, I believe is a misnomer. Oman sits squarely 
on the Indian Ocean and is endowed with natural resources, has a fairly longish coastal line but is 
surrounded with mountains which limit the availability of arable land.  
3.10.   Policies for the development of SMEs and incentives for international investment were central 
in the diversification of the Omani economy.  
3.11.   A specific body overseeing the development o f SME (Riyad)2 was established in 2013 for SMEs 
to access funding and to enhance their competitiveness. For a comprehensive support and 
 
 1 Political Stability and Absence of Violence/Terrorism: Percentil e Rank in Oman was reported at 67.14% 
in 2019, according to the World Bank collection of development indicators .  
2 The Public Authority for the Development of Small and Medium Enterprises (Riyada) was established 
through Royal Decree No. 36/2013 in June 2013 and is headquartered in the Muscat Governorate. Its objectives 
are to develop SMEs by enabling them to: (i) access funding; (ii) instil a culture of entrepreneurship; (iii) promote 
employment opportunities, especially to young Omanis; (iv) assist  entrepreneurs in implementation and 
leadership tasks; (v) enhance competitiveness; and (vi) support innovation and economic diversification. To this 
end, Riyada provides training, support, and consulting services. Secretariat Report , page 46 . WT/TPR/M/418 • Oman  
 
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  development of SMEs an additional entity for SMEs dedicated for the young entrepreneurs the Al 
Raffd Fund was put in pl ace. The two entries were merged in 2020.  
3.12.   New regulations entered into force to attract foreign investment, particularly the removal of 
some conditions such as the requirement to partner with a local shareholder and the 30% Omani 
ownership. Numerous incentives  are now in place for investors both n ational and foreign. And to 
further strengthen the business environment, Oman has introduced its first anti -monopoly and 
competition protection law.  
3.13.   It is worth noting that despite the importance of the contribution of oil and gas to the GDP 
where it make s 60% of Oman total exports, the continued targeted reforms carried out by the 
Government have started to pay off, as according to the IMF in 2018 the real  non-hydrocarbon GDP 
has increased to 1.5%3. The Secretariat report has also mentioned the increase in the GDP in non -oil 
sector at a rate of 6.1% 4in 2016.  
3.14.   Let me briefly outline the major achievements as well as challenges in the five key priority 
sectors during the period under review.  
3.15.   In the manufacturing sector, during the period under review the  contribution to the GDP has 
been steady at 10%, while the industries in this sector are mostly  related to oil and gas. Reliance in 
the hydrocarbon manufacturing sector is a challenge due to the volatility and unpredictability of oil 
prices and demands. Th e government is committed more than ever to move from resource -based 
to capital -intensive and knowledge -driven sector.  
3.16.   Transport and logistics are one of main focus of the Government for economic diversification, 
where Oman aims to be a top  10 global tran sport hub. An important investment program  is in place 
to improve and increase the capacity of its networks which are not yet fully developed. To further 
support development in this sector, Oman has fully implemented all of its Trade Facilitation 
Agreement  commitments since 2020. This is indeed a remarkable achievement.  
3.17.   In the tourism sector, the growth registered during the review period was impressive. The 
contribution was at 2.3 % of GDP in 2020 and the Government aims to increase this contribution 
furthe r to 6%. However, the pandemic has set -back this industry globally.  
3.18.   In Fisheries, where Oman has a large coastal line, it is a net exporter of fish. Further incentives 
were provided in this sector to encourage foreign investment in form of tax exemptions a s well as 
traditional fishermen to improve their vessels. This is in order to achieve the ambitious target for a 
contribution of 2% of GDP and a growth of 5.6% per annum.  
3.19.   The Agriculture sectors proves to face important challenges because of the limited a vailability 
of arable land, the scarcity of irrigation water, the poor and declining quality of the soil due to 
increasing salinization, overgrazing, and adverse climatic conditions. Still the Government set an 
ambitious target of GDP  contribution to 3.1% by 2020, with annual growth topping 4.5%. The 
Government wants to lessen its reliance on food imports and at the same time ensuring food 
security. The Oman Food Investment Holding Company (OFIC) established in 2012 has been 
mandated t o invest in food security, economic diversification.  
3.20.   The last sector in focus is  mining, where its contribution to the economy has gradually 
increased, from 0.4% in 2014 to 0.9% in 2020. To further enhance the growth in this sector, the 
government has refo rmed its legal and institutional framework to provide investors with more 
incentives, guarantees, transparency, and certainty.  
Bilateral – multilateral relations  
3.21.   Let me now turn to the bilateral relations Oman has developed over the years to further 
support its economic development and social goals.  
 
3 Viewed at:  https://www.imf.org/en/News/Articles/2019/04/11/pr19113 -oman -imf-staff-concludes -
2019-article -iv-visit-to-oman   
4 Secretariat Re port, Table 1.3 Selected macroeconomic indicators 2014 -20. WT/TPR/M/418 • Oman  
 
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  3.22.   Oman has been part of the regional integration and economic cooperation in the Arab world 
with the GCC and the Pan -Arab Free Trade Area (PAFTA).  
3.23.   At the multilateral level, Oman is an active Member of the WTO a nd is striving to commit to 
the rules based multilateral trading system which Oman believes will support its development. It is 
an active participant in the current round of multilateral trade negotiations. As mentioned by the 
Government "The rule -based sy stem of the WTO is of benefit to all Members, but in particular to the 
smaller, developing countries" . This speaks volume on the importance of the multilateral trading 
system to the Omani Government. The largely open and liberal policies of the Government are based 
on the multilateral principles and rules of the WTO.  
Other instruments of reforms  
3.24.   In addition to the main instruments of reforms , I indicated earlier, Oman has been speeding 
up its privatization processes as part of its long -term strategy to all ow greater participation of the 
private sector in its economy.  
3.25.   The future national strategy to support the establishment of a knowledge -based economy and 
to promote innovation and competitiveness in accordance with Oman Vision  2040 has been 
developed clos ely with the WIPO.  
3.26.   Last but not least, the government's measures for the improvement and modernization of 
various legal frameworks is an important step. Among them are the revised Law on Combating 
Money Laundering and Terrorism Financing (ML/TF), the estab lishment of National Committee for 
Combating Money Laundering and Terrorism Financing, and the creation of the National Centre for 
Financial Information.  
Challenges  
3.27.   The path to transition to a diversified economy away from a growth driven by oil and gas ha s 
had some bumpy rides as a result of falling oil prices and the pandemic which hit the economy hard. 
All of Oman related oil sector suffered from the falling oil prices as well as the falling oil demand as 
a result of the pandemic. The tourism and aviatio n sectors registered significant losses. Oman's GDP 
has seen some bouts of contraction in the last few years.  
3.28.   During the period under review, the reforms the government has extensively pursued have 
started to pay off. However, growth remained a challenge, understandably due to overreliance on 
hydrocarbons.  
3.29.   These challenges have given the Government renewed determination and commitment for 
ambitious development and diversification as outlined in its Vision  2040, where the real GDP growth 
is aimed 5% annually for the next 20  years, with 90% being non -oil sector.  
3.30.   In terms of C OVID -19 response, the Government swiftly took measures to mitigate the 
impacts on the economy. Fiscal measures such as interest -free emergency loans, waiving or reducing 
selected taxes and fees, flexibility to pay taxes in instalments, and establishing the Job Security 
Fund to support citizens who lost their jobs were implemented.  
3.31.   In the tourism sector, tourism tax and municipal taxes were waived for two years. New 
measures to faci litate and accelerate the imports of goods were also introduced.5 
3.32.   Oman seems to have some of the essential ingredients to further develop its economy: an 
open economy, a stable country in a region in turmoil and a good reform strategies.  
3.33.   As we are reviewing today the trade policy of Oman, it is worth mentioning that some of the 
trade policy instruments deployed by the Government of Oman to pursue its ambitious objectives 
for prosperity and sustaining an economic could potentially be percei ved at times as inconsistent 
 
5 In the wake of the COVID -19 pandemic,  Oman  implemented  new import  measures.  Specifically, Asyad 
approved the practice of "direct" imports from the country of origin, with fewer clearance procedures to speed 
up the process and reduce costs procedures to speed up the process and reduce costs.  It also reinforced the 
transition to electronic submission of documents and virtual customs clearance , Secretariat report page 34 .  WT/TPR/M/418 • Oman  
 
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  with its international commitments. This is the reason for Members to seek further clarity on the 
choice of the some of the measures implemented by the Government, how will they achieve the 
goals the Government has set forth fo r its development and how are they in compliance with WTO 
obligations. The main points raised by members have been circulated by Secretariat and I invite 
Oman to share with Members the rationale behind its policy choices and provide further clarity on 
these measures.  
3.34.   To conclude, I feel that Oman is equipped with the right compass and the necessary means 
to gear up for its development and growth.  
3.35.   I wish Oman a very successful TPR and success in the implementation of its initiatives to 
become a developed co untry . 
  WT/TPR/M/418 • Oman  
 
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  4  STATEMENTS BY MEMBERS  
ICELAND  
4.1.  Iceland joins others in welcoming the distinguished delegation of Oman to their Trade Policy 
Review. We also express appreciation to the WTO Secretariat and Oman for the reports prepared, 
as well as to the discussant,  for the excellent framing of the issues for our discussion today.  
4.2.  First, I would like to mention the FTA between GCC and the EFTA countries - Iceland, 
Liechtenstein, Norway, and Switzerland that was signed in 2009. The FTA, which has served our 
countries well, covers broad range of areas including trade in goods, trade in services, competition, 
and government procurement as well as additional agreements on agricultural products.  
4.3.  Oman 's economy has in the past few years been affected by low oil pr ices then as with other 
countries it 's been heavily affected by the COVID -19 pandemic. Facing this health crisis Oman has 
undertaken various measures to mitigate the impact on it s economy.  
4.4.  The impact of this health crisis has revealed new challenges relati ng to trade and trade -related 
activities as it is widely recognised that the pandemic has affected women much harder that men 
and preventing them from participating in trade.  
4.5.  Identifying barriers that women face when it comes to participating in trade will  help in the 
development of policies and programs that encourage women 's participation in national and 
international trade and by doing so promotes sustainable socioeconomic development.  
4.6.  Important tool in advancing women 's economic empowerment is sharing o f best practices of 
respective experiences relating to those policies and programs and the trade policy review provides 
an excellent opportunity to do that.  
4.7.  Therefore, Iceland has submitted in advance written questions on the participation of women 
in the economy of Oman and welcomes Oman 's replies as the answers will be useful as we gather 
best practices.  
4.8.  Iceland appreciates Oman 's active engagement in WTO and their continued support for the 
multilateral trading system. We wish the delegation of Oman every  success for their Trade Policy 
Review.  
CANADA  
4.9.  Canada joins other WTO Members in welcoming H.E.  Mr Qais Mohammed  Al Yousef , Minister of 
Commerce, Industry and Investment Promotion , and the other members of the delegation from 
Oman today both virtually and in-person. We are very pleased to participate in the third Trade Policy 
Review of Oman. We thank the Government of Oman and the WTO Secretariat for their reports.  
4.10.   First, we would like to commend Oman for ratifying the Trade Facilitation Agreement since it s 
last Trade Policy Review, and for having officially implemented 100% of its commitment under the 
Agreement that since 2020.  
4.11.   Canada was also pleased to learn that since the last review, Oman has implemented reforms 
related to foreign capital investment, p rivatizations, public -private partnerships, and bankruptcy, to 
improve the business environment and labour market and obtain a competitive edge for foreign 
investment and  facilitate higher inflows of FDI.  
4.12.   These efforts have been fruitful since the Secreta riat has noted that foreign direct investment 
in Oman nearly doubled from 2014 to 2019 and  is expected to play an important role in Oman 's 
structural reform.  
4.13.   Canada congratulates Oman for improvements towards a stable and open investment 
environment with the modernization of their foreign investment regime in 2020. 100% 
foreign -owned companies are now permitted, and foreigners no longer need to partner with a local WT/TPR/M/418 • Oman  
 
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  shareholder. However, we note with concern that while the 30% Omani ownersh ip requirement has 
been revoked, registration fees for 100% foreign ownership have in fact increased to 
3,500  Omani  Rial (approximately USD 9,100).  In addition, some projects related to strategic 
development (public facilities, infrastructure, energy, road s, transport, and ports) must be approved 
by the Council of Ministers and meet additional requirements.  
4.14.   We were quite interested to learn about the launch this year of Oman 's "Vision  2040" agenda, 
which identifies a broad and ambitious set of national pri orities for the next twenty years, including 
economic diversification, fiscal sustainability, private sector development, the attraction of foreign 
direct investment, and international cooperation. Under Vision  2040 and successive five -year plans, 
we under stand that Oman intends to: achieve developed country status by 2040; diversify 
production and exports; achieve a balanced budget; attract foreign investment; and maintain low 
inflation rates. We commend your Government for setting out this bold agenda, on e we are confident 
will ensure the continued growth and prosperity of the Sultanate of Oman.  On the Vision  2040 
agenda, Canada has looks forward to reviewing the responses to questions raised regarding the 
policy of "Omanization " of the labour force, a pa rt of Vision  2040 that includes a temporary ban on 
hiring foreign workers.  
4.15.   In relation to the WTO 's deliberative function, Canada appreciates the excellent WTO 
notification record of Oman over the past decade. Such transparency ensures all WTO Members and 
their stakeholders remain updated on our respective trade policies, and any changes to them. In 
addition, we encourage Oman to participate in Joint Statement Initiatives at the WTO. We also 
encourage Oman to consider joining the Multi -Party Interim Appeal Arbitration Arrangement as soon 
as possible to ensure binding dispute settlement with access to appellate review in disputes.  
4.16.   In this period of unprecedented health and economic challenges due to COVID -19, the 
predictability and stability provided by the W orld Trade Organization (WTO) and the rules -based 
international trading system is crucial for both Oman and Canadian businesses and workers, as well 
as the path towards economic recovery. It is key to supporting a strong, sustainable, and inclusive 
economi c recovery from the COVID -19 pandemic.  
4.17.   Canada looks forward to a constructive exchange of views an all aspects of the trade regime 
and economy of Oman. We appreciate the responses from Oman to our questions and wish the 
delegation the utmost success during  this Trade Policy Review.  
BRAZIL  
4.18.   Brazil would like to thank the Government of Oman and the Omani Mission to the WTO, in the 
figure of Permanent Representative Idris Al Khanjari, for  engaging in Oma n's third Trade Policy 
Review and providing Members with a transparent overview of the country 's economic performance 
and ad herence to the multilateral trading system.  
4.19.   We would like to express our appreciation to the WTO Secretariat for its thorough and 
comprehensive report, as well as to the Chair, Ambassador  Dr Athaliah  Lesiba  Molokomme  
(Botswana), and the discussant, Ambassador  Muhammad  Mujtaba  Piracha (Pakistan), for their 
contribution to this crucial exercise on  transparency.  
4.20.   Oman is an important partner of Brazil. We enjoy an expanding economic relationship. Trade 
flows between Brazi l and Oman increased by 36% between 2015 and 2020, despite the effects of 
the worldwide pandemic.  
4.21.   We are proud to supply Oman with vital products for their economy and their food security, 
such as iron ore and poultry meat. Meanwhile, Oman is an important source of inputs for our 
agribusiness and our industry.  
4.22.   Investment is another relevant area of our relationship. In this, perhaps the flagship of our 
success is Brazilian mining company Vale 's iron ore  pelletizing plant, located in Sohar. It is the 
largest  foreign investment in Oman outside the hydrocarbon sector and also Brazil 's largest 
investment in the  Middle East. Brazilian companies have many other successful stories in Oman, 
especially in the areas of mining and food.  WT/TPR/M/418 • Oman  
 
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  4.23.   In both trade and investment, B razil wants to build upon our current partnership with Oman 
and fulfil our potential to go even further. We see a broad range of  trade opportunities that we have 
yet to harness. We have a specific interest in the Omani market for products based on bovine, swine 
and poultry meat, as  well as for live bovines and bubalines. We have submitted requests to the 
Omani authorities in order to receive the relevant export requirements. Our hope  is to be able to 
achieve progress, so that those products can become anoth er bulwark of our trade relationship.  
4.24.   The COVID -19 crisis had a major impact on both the world and the Omani economy. Falling 
oil prices were a substantial factor leading to a 6 .4% decline of the Omani GDP in 2020. We are glad 
to receive indication that t heir economy is ready to bounce back, with a 2 .5% growth estimate in 
2021.  
4.25.   We applaud Oman 's high level of engagement with the Trade Facilitation Agreement, including 
total implementation of their commitments. Other positive  developments during the review period 
were new investment laws, such as the 2019 Commercial Companies Law and the 2020 New Foreign 
Capital Investment Law, that reduced national ownership requirements and lessened the burden for 
foreign investment.  
4.26.   Let me conclude  by wishing Oman a very  successful and productive Trade Policy Review.  
SINGAPORE  
4.27.   Let me begin by conveying my warm greetings and appreciation to Minister of Commerce, 
Industry and Investment Promotion Mr  Qais bin Mohammed  Al Yousef , who is participating virtually 
from Muscat. I would also like to welcome the Omani delegation who are here with us today in 
Geneva, including Undersecretary for Commerce and Industry , Dr Saleh  Said Masan. We thank 
Oman for its comprehensive Government report and statement. We also thank the Chair Ambassador 
Athaliah Molokomme, Discussant Ambassador  Mujtaba  Piracha (Pakistan), as well as the Secretariat 
for their insightful reports and statements. Allow me to make three  points.  
4.28.   First, Singapore and Oman enj oy long -standing and warm political and economic ties. Being 
strategically located on major trade routes, Singapore and Oman have historically been active 
trading nations. Personally, I learned this first -hand as Co -Chair of the Jewel of Muscat Joint 
Worki ng Group, when Oman and Singapore collaborated to build and sail the Jewel of Muscat from 
Muscat to Singapore. For those who are not familiar with the Jewel of Muscat, it is a faithful 
reproduction of a seventh  century dhow that sunk in Belitung while ferr ying cargo from China to the 
Middle East. I am sharing this little anecdote to underscore Oman's role as a historical trading nation 
with deep connections with Asia.   
4.29.   In this context, there is significant potential for Oman and Singapore to expand our eco nomic 
partnership. In 2020, bilateral trade between Oman and Singapore amounted to around 
USD 480 million, which makes Oman Singapore 's nineth  largest trading partner in the Middle  East 
and North  Africa region. This represented a year -on-year increase of 6 %, despite the challenges 
arising from the COVID -19 pandemic. Singapore’s import of services from Oman also increased more 
than 20% in 2020 to reach USD  200 million. As Singapore and Oman expand our bilateral economic 
partnership, the FTA between the Gulf Cooperation Council (GCC) and Singapore signed in 2013 will 
continue to be the bedrock on which Singapore -Oman economic relations will grow from strength to 
strength.  
4.30.   Singapore also continues to deepen our collaboration with Oman at both the Government an d 
business levels. For example, the Singapore -Oman Joint Committee and the Singapore -Oman 
Business Council served as useful platforms to deepen collaboration and commercial partnerships in 
areas such as transport and logistics, infrastructure and engineeri ng, energy, and oil and gas. 
Singapore companies present in Oman represent a diversity of sectors, including aquaculture, cargo 
handling, urban planning, and Maintenance, Repair and Operations (MRO) of aircraft.  
4.31.   Second, Singapore commends Oman 's efforts t o embrace digital transformation as it seeks to 
diversify its economy. For example, the Digital Oman Strategy, which covers the development of 
digital government services, ICT industry development, digital standards, and infrastructure, 
constitute a key th rust of Oman 's economic development strategy as encapsulated in Oman 
Vision  2040.  Pivoting from reliance on the energy sector to pursue other growth areas with WT/TPR/M/418 • Oman  
 
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  digitalisation potential including manufacturing and transport, and logistics will strengthen th e 
resilience of Oman 's economy and support its economic recovery. Singapore will continue to work 
closely with Oman to explore new areas of collaboration, especially as we embark on post -pandemic 
recovery.  
4.32.   Third, on the multilateral front, Oman has been a  steadfast supporter of the WTO. In this 
connection, we want to encourage Oman to join the JSI on E -Commerce, which we believe will spur 
further growth for Oman 's small and medium enterprises (SMEs) and support the successful 
implementation of Oman Vision  2040.  
4.33.   Singapore would also like to encourage Oman to consider elevating its status as an observer 
to become a party to the Government Procurement Agreement (GPA), given the importance of 
establishing open, fair, and transparent conditions of competition i n government procurement 
processes. I wish Oman every success for its third  Trade Policy Review .   
UNITED  STATES  
4.34.   The United  States is pleased to welcome  Mr Qais bin Mohammed  Al Yousef , Minister of 
Commerce, Industry and Investment Promotion , and rest of  the delegation to the third  Trade Policy 
Review  of Oman. We welcome the Secretariat and Government reports and appreciate the 
opportunity to gain a clearer sense of changes to trade and investment policies in Oman since the 
last review in 2014.  
4.35.   The United  States and Oman enjoy a constructive bilateral relationship, with cooperation 
spanning many of the economic and security issues confronting the Middle East and the world. On 
the commercial front, bilateral trade continues to expand, and as we implement our  bilateral Free 
Trade Agreement (FTA), we look forward to continued engagement on trade issues.  
4.36.   In 2020, the value of U S goods imports from Oman was US D 815 million, with the top import 
categories in plastics at USD 274 million, aluminum at USD 189 million , iron and steel products at 
USD 106 million, jewelry at USD 64 million, and organic chemicals USD 46 million.  
4.37.   Our comprehensive bilateral FTA eliminated tariffs and other barriers on substantially all goods 
and services trade, thereby promoting economic g rowth and additional commercial opportunities. A 
number of the reforms that Oman has undertaken, not only supports their FTA commitments, but 
also benefits its ' other trading partners.  
4.38.   We hope that Oman will find this review to be useful as the country con tinues to open its 
markets for global trade.  The United  States has submitted a number of questions to better 
understand Oman 's processes and mechanisms, and we look forward to reviewing Oman 's responses 
to our written questions.  
4.39.   For example, the United  States understands that Oman and the other GCC Member State 
governments are currently considering revisions to the excise tax on beverages. We and other WTO 
Members have raised concerns in several fora about the implementation of this tax, and we ha ve 
asked for an opportunity to consult on necessary revisions, including switching to a graduated tax 
based on total sugar content – whether from either naturally occurring and/or added sugars  – 
exempting beverages with no added sugar and low caloric bever ages from the tax, and ensuring 
that there is no discrimination between energy drinks and other beverages currently covered that 
have similar amounts of sugar.  
4.40.   We remain particularly interested in the timeline to inform private industry, governments, and 
other interested parties about the study currently underway on a new excise tax model and Oman 's 
formal mechanism for consulting with interested parties regarding the selective tax, particularly in 
advance of any final decisions. We note differences among t he GCC Member State Governments in 
their implementation of the selective tax, and look forward to working with Oman work with the 
other GCC Member State Governments to ensure that any amendments to the Unified Excise Tax 
Treaty for the GCC address the issue of consistent implementation.  WT/TPR/M/418 • Oman  
 
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  4.41.   In addition, we submitted questions regarding its treatment providing fewer clearance 
procedures for "direct " imports from one of 86  commercial ports in certain countries vs. imports that 
arrive in Oman with intermediate  stop and whether Omani customs officials also provide advance 
rulings with regard to rules of origin in determining eligibility under preferential trade agreements.  
4.42.   The United  States has also raised detailed questions regarding intellectual property right s, 
Oman 's technical regulations and standards for imported halal products and notifications for 
domestic support programs, import licensing procedures, incentives to the free trade zones and 
measures aiming to increase exports of agricultural products, as well as the roles of Oman 's Export 
Credit Guarantee Agency, the Oman Development Bank and the Oman Food Investment Holding 
Company.  
4.43.   We also call on Oman to no longer seek special and differential treatment in current and future 
WTO negotiations. By taking this step, Oman would make a significant contribution to ensuring that 
the WTO remains a viable forum for meaningful trade negotiations.  
4.44.   The United  States greatly appreciates the opportunity to participate in this TPR review and 
looks forward to continuing  our work with Oman, and our trading partners, to strengthen the global 
economy and the multilateral trading system embodied by the WTO, allowing trade and investment 
opportunities to expand.  
ISRAEL  
4.45.   Israel would like to thank you, the Discussant H.E.  Mr Muhammad  Mujtaba  Piracha  (Pakistan), 
Oman, and the Secretariat for the detailed reports. Israel also welcomes Mr  Qais Mohammed Al 
Yousef, Minister of Commerce, Industry and Investment Promotion as the Head of the Omani 
Delegation to this TPR, Ambassador  Idris Al-Khanjari and DPR  Hilda Al -Hinai.  
4.46.   Israel welcomed the accession of Oman to the WTO back in 2000. Since then, Oman has 
proved that it is a loyal Member of the WTO and respects the rule based multilateral trading system 
and its values. Oman has adopted a  constructive and practical approach in the WTO and has 
contributed to the overall discussions and negotiations. Oman has contributed to the joint efforts to  
promote the rule -based multilateral trading system on the basis of its core principles  of 
(Non-discrimination) and transparency.   
4.47.   In the WTO, Oman is a Member of the Information Technology Agreement. Israel would 
welcome Oman 's accession to the Revised Information Technology Agreement, which we are 
confident would benefit Oman and all the other partic ipants. In the same vein, we would welcome 
progress in the accession process of Oman to the GPA.  
4.48.   During this exercise, Israel submitted questions to Oman, and we look forward to reviewing 
the replies in due course.  
4.49.   As we are nearing MC12, Israel looks fo rward to Oman 's continued contributions and 
constructive role towards a successful Ministerial.  Israel wishes Oman a very successful T rade Policy 
Review . 
EUROPEAN  UNION  
4.50.   On behalf of the European  Union, I would first like to welcome the delegation of Oman, led by 
H.E. Mr Qais bin Mohammed  Al Yousef, Minister of Commerce, Industry and Investment Promotion. 
I would also like to thank the WTO Secretariat and the delegation of Oman for their reports an d the 
Discussant H.E.  Mr Muhammad  Mujtaba  Piracha (Ambassador of Pakistan) for his remarks.  
4.51.   This is the third  review for Oman and I would like to start by noting that overall, the country 
is moving in the right direction.  
4.52.   Since the last review of Oman in  2014 (jointly with Bahrain and Qatar) the country 's economy 
was affected by the impact of the global pandemic and by the drop in prices in the international WT/TPR/M/418 • Oman  
 
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  energy markets, as the energy sector and the hydrocarbons production remains the backbone of 
Oman 's economy, industrial output and trade.  
4.53.   As already noted in previous reviews, Oman – similarly to other GCC countries  – is fully aware 
of the need to avoid too high dependence on the energy sector and the country is implementing 
specific strategies aiming  at diversifying their economies under the "Vision  2040". 
4.54.   In order to help this process in 2019 - jointly with our GCC partners  – the EU have initiated 
the "EU-GCC Economic Diversification Project " which is ongoing and aims at supporting economic 
diversifi cation in the Gulf economies. One of the key goals of the project is to learn from each other 's 
best practices through preparing specific studies and events (some of them having been hosted by 
Oman). The project involves stakeholders, both from the private  and public sector in areas, such as 
standards, investment promotion, IPR protection as well as in new emerging areas, including circular 
economy, digitalization and connectivity as well as employment and "Omanization ".  
4.55.   As part of this project in the context of the ongoing Expo  Dubai, significant events have been 
organized including a conference on the participation of women in the tech sectors and a high -level 
EU-GCC Business Forum focussing on economic diversification.  
4.56.   Oman is actively engaging in th is project, which the EU appreciates, and we think that these 
exchanges and long -term strategic plans will help the country to improve further its economy by 
making it more sustainable and knowledge -based in the coming years.  
4.57.   A word on our bilateral relat ionship. In 2018, the EU and Oman signed a Cooperation 
Arrangement to enhance our dialogue in areas of common interest, including trade, investment, and 
economic cooperation in general, which provides a well -established framework for our bilateral 
engageme nt. 
4.58.   The EU remains a very important trading partner for Oman with a bilateral trade in goods 
reaching EUR  3.3 billion in 2020 and trade in services amounting to EUR  2.9 billion in 2019 (last 
available data). The EU is the country 's sixth  trading partner an d the second source of imports 
covering more than 10% of country 's imports. EU FDI in Oman has also significantly increased over 
the past few years, with a stock of EUR  10.4 billion European investment in the country in 2019 from 
EUR 1.3 billion  in 2018 (l ast available data).  
4.59.   At the multilateral level, the EU commends Oman on implementation of all of its commitments 
under the Trade Facilitation Agreement and the amendment of the TRIPS Agreement in 2017 as well 
as their engagement in the WTO negotiations on fisheries subsidies. The EU stresses the need to 
achieve concrete results at the WTO 's 12th Ministerial Conference to show that the WTO can deliver 
on the economic recovery, on trade and health and on sustainability. We call for Oman 's cooperation 
in the W TO reform discussions. Specifically, on services, we encourage Oman to join the group of 
WTO Members that are committed to bringing the Joint Initiative on services domestic regulation to 
a successful conclusion by MC12. This initiative is of great importa nce to service suppliers across the 
world and will help them in their recovery from the pandemic. We also encourage Oman to join the 
MPIA.  
4.60.   Let me also welcome the accession of Oman to the Geneva Act of the Lisbon Agreement on 
Appellations of Origin and Geo graphical Indications. The Geneva Act is a significant tool for the 
protection of GIs around the world and it is for the time being the only multilateral basis for GI 
protection.  
4.61.   Despite these positive aspects, the EU submitted a number of questions and c oncerns, namely 
on public procurement requirements and procedures, standards for certain products and IPR.  
4.62.   We understand that in early 2021 the responsibility for food safety has been shifted from the 
Ministry of Commerce to the Division of Food Safety an d Quality Control under the authority of the 
Ministry of Agriculture. We are confident that the new organizational set -up is smoothly functioning 
by now and will shortly help resolving the market -access issue we have on the olive oil extra virgin 
and pomac e oil to Oman.  WT/TPR/M/418 • Oman  
 
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  4.63.   Let me conclude by recalling that the EU is looking forward to Oman 's responses to the 
questions we have put forward today and others that we have previously submitted in writing. On 
behalf of the EU, I wish Oman a very productive and successful review.  
KINGDOM  OF SAUDI  ARABIA  ON BEHALF  OF THE ARAB  GROUP  
4.64.   The Arab  Group is very pleased to take part in the third Trade Policy Review of Sultanate of 
Oman and wishes to extend a very warm welcome to its distinguished delegation headed by 
H.E. Mr Qais Mohammed Al Yous ef, Minister of Commerce, Industry and Investment Promotion.  
4.65.   I would like to take this opportunity to thank our brothers in Oman and the WTO Secretariat 
for their detailed and comprehensive Trade Policy Review reports. I also thank  the discussant 
H.E. Mr Muhammad Mujtaba Piracha , Ambassador and Permanent Representative of Pakistan to the 
WTO for his insightful comments.  
4.66.   Despite that Oman faced a double challenges as low prices of oil and the COVID -19 pandemic, 
Oman took a series of measures to lower the impact of them on the economy which resulted in 
expected growth of its economy by 2.5% in 2021.  
4.67.   The Arab Group would like to commend Oman for its Vision  2040 and successive five -year 
plans which aims to achieve developed cou ntry status by 2040, diversify production and exports 
away from oil, and create employment opportunities for Omanis. It Also be commended for reducing 
the average clearance time for imports to seven hours.  
4.68.   We congratulate Oman for officially implementing 1 00% of its commitments under the Trade 
Facilitation Agreement in 2020, and for introducing its New Foreign Capital Investment Law in 2020, 
and for its National Strategy for Intellectual Property which is currently under formulation.  
4.69.   We praise Oman for the changes and improvements that occurred in many areas during the 
review period such as the ones in the telecommunications infrastructure, and the legal framework 
for financial services as well as competition law.  
4.70.   Before I conclude, I would like to say a few  words on behalf of Saudi  Arabia. Saudi  Arabia and 
Oman enjoy a brotherly friendly trade relationship supported by shared membership in the GCC and 
Arab league, and they are prominent trading partners. Despite the pandemic, the trade exchange 
between the t wo countries in 2020 grew by 43% than it was in 2016, and Saudi Arabia amongst 
Oman 's top trading partners. Saudi -Omani Joint Business Council that was established to 
strengthening the cooperation between the two countries in various fields remains very ac tive in 
paving the way for closer economic ties to strengthen trade cooperation and to enhance investment 
opportunities in the two  countries.  
4.71.   Last July  2021, His Majesty Sultan of Oman Haitham  bin Tariq Al Said visited Saudi  Arabia 
and meet with the Custod ian of the Two Holy Mosques King  Salman  bin Abdulaziz  Al Saud, and 
HRH Prince Mohammad bin Salman, Crown Prince, Deputy Prime Minister and Minister of Defense. 
This visit is the first foreign visit of the Sultan of Oman, after assuming the reins of governm ent, 
which bears great meanings indicating the depth and sincerity of the relations between the two 
countries, the two leaderships and the two brotherly peoples. This visit comes with great outcomes 
such as welcomed the establishment of a Saudi -Omani Coord ination Council to strengthen their 
bilateral relations in various fields, directed to work on concluding a number of treaties and 
memorandums of understanding (M OUs) between the two brotherly countries for cooperation in 
different fields which contribute to achieve the objectives of the Saudi 's Vision  2030 and Oman's 
2040 Vision.  
4.72.   At the end, I would like to thank H.E.  Mr Idris Al Khanjari , Ambassador and Permanent 
Representative of Oman to the United Nations Office and other international organizations in Geneva 
and his distinguished team for the excellent cooperation between our two missions here in Geneva 
which serves our mutual interests.  
4.73.   To conclude, we wish our brothers in Oman a very successful Trade Policy Review.  WT/TPR/M/418 • Oman  
 
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  CHINA  
4.74.   China would like to extend our warm welcome to the delegation of Oman led by H.E.  Mr Qais 
Mohammed Al Yousef, the Minister of Commerce, Industry and Investment Promotion, to the third 
Trade Policy Review. We would like to thank the discussant, Ambassador  Muhammad Mujtaba 
Piracha for  his insightful remarks. My thanks also go to the Secretariat for their hard work to prepare 
this exercise.  
4.75.   China commends the efforts of Oman on its economic openness, diversification and long -term 
development. During the review period, economic diversif ication was an important component of 
Oman 's Development Plan  "Oman Vision  2040" lunched in 2019 further focuses on diversification, 
aiming to transform the economy to be more driven by the private sector, particularly to encourage 
more solid development o f small and medium -sized enterprises.  
4.76.   As a part of the diversification effort, FDI is expected to play an important role in structural 
reform. It is encouraging to learn that during the review period, FDI stock in Oman nearly doubled 
from USD  19.7 million  in 2014 to USD  37.9 million in 2019. We believe the 12  national priorities and 
their key performance indicators will help Oman achieve its goal toward a diversified and sustainable 
economy.  
4.77.   We congratulate Oman for its great achievements in reform and de velopment across many 
fields, such as optimizing government expenditures, adoption of new legislation on trade and 
investment policies. Among these, China welcomes the adoption of the new Commercial Companies 
Law and the new Foreign Capital Investment Law in Oman. The reform and modernization of Oman 's 
investment regime will improve the business environment for foreign investors.  
4.78.   China highly commends Oman 's strong support to the rules -based, transparent, non -
discriminatory, open, and inclusive multilateral  trading system. We recognize Oman 's constructive 
engagement in the WTO work, including its active participation in WTO regular bodies, as well as 
negotiating groups.  
4.79.   With a long history dating back to the ancient Silk Road, the ties between China and Oma n 
have exemplified the China -Arab relations and the friendly exchanges between the two great 
civilizations. China has been Oman's largest trading partner in recent years. Trade growth between 
the two countries averaged about 10.6% between 2016 to 2020. In the first half -year of 2021, 
bilateral trade volume reached USD  14.6 billion，an about 60% year -on-year increase. We expect 
to further strengthen the trade relationship with Oman in the future.  
4.80.   China would like to note that we have submitted written questio ns with the hope to have 
further clarifications on policies and regulations on intellectual property rights, cross -border 
e-commerce, and foreign investment. We appreciate Oman for their timely responses to our 
questions.  
THAILAND  
4.81.   Thailand welcomes the opp ortunity to participate in the third  Trade Policy Review of Oman. 
We wish to extend a warm welcome to the delegation led by H.E.  Mr Qais Mohammed  Al Yousef, 
Minister of Commerce, Industry and Investment Promotion.  
4.82.   We would like to thank you, Chair, for your comprehensive summary, the Secretariat for 
excellent work on the report, and the Discussant, H.E.  Mr Muhammad  Mujtaba  Piracha , Ambassador 
of Pakistan for his insightful analysis of Oman 's trade policy.  
4.83.   Thailand and Oman have long -standing relationship  since 1980s and we were delighted to 
celebrate the 40th anniversary of diplomatic relations between Thailand and Oman in 2020. 
Cooperation at various levels between people, businesses, and governments of both countries has 
laid out the foundation for stre ngthening relations and played a significant role in enhancing new 
opportunities and cooperation.  WT/TPR/M/418 • Oman  
 
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  4.84.   Thailand and Oman bilateral economic relations and cooperation have expanded steadily in 
many areas of mutual interests such as rubber, halal food, aquacultur e, energy, tourism, and 
healthcare. In terms of merchandise trade, Oman is the fourth largest trading partner of Thailand 
among the GCC countries, and Thailand is the second largest trading partner of Oman in ASEAN. In 
2020, bilateral trade amounted to USD 926.41  million  and Thailand 's imports from Oman registered 
at USD 566.35  million, increasing 13.05 % from 2019.  The top exported goods from Thailand to 
Oman are motor vehicles, and parts and accessories; organic chemicals; machinery, mechanical 
appliances;  rubber and articles; and seafood. Meanwhile, Thailand is among Oman 's top export 
destination for oil in Asia. Thailand hopes that our bilateral trade will continue to grow to further 
strengthen our economic relations.  
4.85.   In recent years, Oman 's economy has e ncountered challenges from fluctuating oil prices and 
the global economic slowdown due to the COVID -19 pandemic. Oil and gas still dominate the 
economy accounting for 26.2% of GDP and approximately 60% of merchandise exports according 
to the secretariat re port. Thus, Oman is encouraged to diversify her economic structure to other 
potential sectors such as services (transport and logistics and tourism), agricultures, and fisheries 
for longer term resilience. Thailand welcomes "Oman Vision  2040" and the 2016 -2020 Five -Year 
Development Plan which aim to serve this objective as well as to create greater employment 
opportunities and to steer Oman’s economy to achieve the developed country status by 2040.  
4.86.   Thailand values Oman 's contribution and firm commitment to strengthening the multilateral 
trading system. During the review period, Oman has expressed consistent efforts in ongoing reforms 
particularly in the area of customs clearance procedures with greater utilization of tec hnology as 
well as promoting trade facilitation implementation, contributing to achieve complete 
implementation of its commitments under the Agreement in 2020.  
4.87.   Moreover, we commend Oman 's efforts to liberalize her trade and investment regimes. Having 
privatization as one policy objective priorities and the recent implementation of competition law 
would reinforce economic progress and enhance consumer benefits greater access to variety of 
goods and services. In lieu of investment policy, we also believe tha t the new investment legislation, 
which entered into force in 2019 and 2020, would promote business -friendly environments and 
encourage greater participation from foreign investor and small and medium -sized enterprises 
(SMEs) and contribute to inclusive ec onomic growth in the country.  
4.88.   Aside from general positive economic outlook and favourable business environment, some 
areas of policies should be highlighted and require further clarifications.  
4.89.   In this review, Thailand submitted questions covering specific  aspects of Oman 's trade and 
economic policies, including eligible products for tariff exemptions and concessions, trade facilitation 
measures to minimize supply chain disruption, liberalization of services particularly in banking and 
telecommunication sec tor. Thailand hopes to receive responses to our questions in due course and 
will study them with great interest.  
4.90.   Lastly, Thailand looks forward to further strengthening economic cooperation with Oman, 
utilizing the strategic locations of the two countries in both regions in increasing mutual trade and 
investment values. Thailand also appreciates the leadership of Ambassador  Idris Al Khanjari  and we 
look forward to work closely with the Omani Mission to advance mutual interests of our two  missions.  
TURKEY  
4.91.   Turkey joins other Members in welcoming the delegation of the Sultanate of Oman, 
participating both virtually and in person and headed by H.E.  Mr Qais Mohammed  Al Yousef, Minister 
of Commerce, Industry and Investment Promotion.  
4.92.   We would like to th ank the Secretariat and the Government of Oman for their detailed reports 
as well as our discussant Ambassador Piracha of Pakistan for his enlightening comments.  
4.93.   Turkey commends Oman 's efforts to diversify its economy in order to address the challenges 
and ensure a strong recovery after the pandemic.  WT/TPR/M/418 • Oman  
 
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  4.94.   The Vision  2040 launched this year identifies its promising long -term goals regarding 
economic diversification, fiscal sustainability, private sector development, the attraction of sizeable 
foreign direct inve stment and international cooperation.  
4.95.   The privatization mandate remains to be of importance under Vision  2040 in order to reduce 
the state ownership and to transform the economy to be further driven by the private sector.  
4.96.   In this context, Turkey welcomes the new legislation on investments that was adopted in 2019 
and 2020. We believe that these amendments will help to improve FDI flow into the country.  
4.97.   It should also be underlined that the legal framework for financial services continued to be 
improved an d modernized during the review period. The authorities maintain the same licensing 
procedures for local and foreign -owned banks.  
4.98.   Turkey values Oman 's firm commitment to the multilateral trading system and the WTO. We 
welcome the ratification of the Trade F acilitation Agreement in 2017. Since 2020, Oman has 
implemented all its commitments under the Agreement.  
4.99.   Turkey believes that there are various opportunities for partnership with Oman. Therefore, 
we aim to strengthen our bilateral relations with Oman in e very field.  
4.100.   We consider that mutual high -level visits are important for the momentum we need. In this 
regard, Our Minister of Foreign Affairs, H.E.  Mevlüt  Çavuşoğlu visited Oman this year in February 
and October.  
4.101.   We would like to hold the next session of Joint Economic Commission in Ankara to boost our 
economic and trade relations.  
4.102.   In concluding, we thank the delegation of Oman in advance for their replies to our questions 
on specific aspects of its trade policy.  
4.103.   We take this opportunity to thank the dele gation of Oman, Ambassador  Idris Al Khanjari and 
his team for the excellent preparation for this review, as well as their contributions to WTO activities.  
We wish Oman a very successful Trade Policy Review.  
INDIA  
4.104.   At the outset, I would like to extend a ver y warm welcome to the delegation of Oman led by 
H.E. Mr Qais bin Mohammed  Al Yousef, Minister of Commerce, Industry and Investment Promotion .  
4.105.   India is pleased to be part of the Trade Policy Review of Oman and my delegation would 
further like t o commend the Government of Oman, the delegation in Geneva led by H.E. Mr Idris Al 
Khanjari , Ambassador and Permanent Representative of Oman and the WTO , and the  Secretariat for 
their comprehensive reports.  
4.106.   India would also like to thank the discussant H.E. Ambassador  Mujtaba  Piracha (Pakistan)  
for his insightful remarks.  
4.107.   India enjoys excellent bilateral relations with Oman, which can be  ascribed  to cordial, 
political, economic, cultural exchanges which  date back to centuries. The growing strategic relation s 
between the two countries have been folded faster  by the visit of the Indian Prime Minister to Oman 
in 2018. During the visit the two sides expressed satisfaction over the current status of bilateral 
relations and  agreed to further expand their cooperation to new areas of mutual interest including 
inter-alia, energy  security, renewable energy, and food security, with the view to take the 
partnership  to a higher level.  
4.108.   The presence of large Indian community in both these countries in another important aspect 
of the close bilateral relationship, these close ties further strengthen when Oman provided special 
medical assistance  to India during our difficult times in the pandemic this year, for which India 
expresses its deep gratitude to the Government and people of Oman.  WT/TPR/M/418 • Oman  
 
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  4.109.   The economic and commercial relations between India and Oman are robust and buoyant ; 
and the b uoyancy  comes from the latest trade data. I f we look at commercial relations between 
India and Oman,  bilatera l trade was of the order of USD 5.4 billion in the last year ; and I'm happy 
to share that in the first four months of this year, even being stuck by the pandemic , our bilateral 
trade with Oman is already 50% of what was done in last year.  
4.110.   Therefore, it shows that India and Oman are very important trading partners, India was the 
second largest market for Oman's crude oil exports for  2020, and even if we talk about non -oil 
exports, India was the third largest market for Oman for 2020.  
4.111.   Investm ent flows both ways hav e been robust , as reflected numerous joint ventures 
stablished both in India and Oman. The re are over 4,000 Indian -Omani joint ventures in Oman with 
estimated investment of USD  7.5 billion. Both, India and Oman accord  high priority t o strengthening  
economical and commercial relations between the two countries.  
4.112.   Economic cooperation between India and Oman is review ed thorough  the institutional 
mechanism of India -Oman Joint Commission , that meeting is at a ministerial level , the 
nineth  session of this Commission  was held virtually on 19  October last year. The JCM accorded  an 
opportunity to review the entire gamma  of bilateral economic relations between India and Oman, 
several new areas of cooperation were identified during the dis cussions such as food security, 
pharmaceutical, minerals, mining, and space cooperation.  
4.113.   We note with appreciation the report provided by the Secretariat for this Trade Policy Review, 
the report  underlines the negative impact on the economy due to the COVI D-19 pandemic , however 
now with recovery from pandemic and increased external demand and higher oil prices, the economy 
is expected to grow by 2.5% and we are glad that Oman has undertaken several steps to improve 
business climate, including permitting 100 % FDI in most of the sectors.  
4.114.   The long -term development plan has emphasised in Oman's Vision  2040 accompanied  by 
the five -year plans through liberalization, diversification and privatizations  have helped in the robust 
economic growth on diversification o f its economic skilled development and removal of income 
inequalities.  
4.115.   The Government's push towards economic diversification under its Tanfeedh programme has 
led significant emphasis  classifying , fisheries, manufacturing, mining, logistics, tourism, etc. as  
priority sectors, and we welcome the focus on this diversification  which seeks to transform Oman 
into a knowledge  and digital economy and India will be a willing partner  in their effort . 
4.116.   We would like to thank Oman for the replies to various posted by our  delegation that will be 
studied carefully by my Capital.  
4.117.   Finally, Oman has been an active Member and participant in the world across the  full WTO 
agenda and here I must mention the role of Oman's delegates from Oman, in particularly in all the 
discussion s where the developing countries used to meet together and had  travail  analysis  of any 
proposal at the WTO, so we expect that same participation  from the Omani delegation will continue 
in our dialogue on development related matters.  
4.118.   We look forwa rd to working with Oman in further expanding and fostering our trade and 
investment ties for mutual benefit.  
4.119.   To conclude, I extend my congratulations once again to Mr  Idris Al Khanjari , Ambassador 
and Permanent Representative of Oman and his delegation fo r their positive contributions and wish 
the entire delegation of Oman a productive and a successful Trade Policy Review.  
KINGDOM  OF BAHARAIN  ON BEHALF  OF THE GULF  COOPERATION  COUNCIL  (GCC)  
4.120.   We are delighted to participate in the third Trade Policy Review o f the Sultanate of Oman, 
and would like to warmly welcome H.E.  Mr Qais Mohammed  Al Yousuf, Minister of Commerce, 
Industry and Investment Promotion, H.E.  Mr Saleh  Said Masan, Undersecretary of the Ministry of 
Commerce, Industry and Investment Promotion and H.E. Mr Idris Al Khanjari, Ambassador and  WT/TPR/M/418 • Oman  
 
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  Permanent Representative of Oman to the UN, WTO and other international organizations in Geneva.  
We would also like to thank the WTO Secretariat for their efforts in preparing the detailed report.  
4.121.   We are delighted  to see all the positive transformations and economic growth mentioned in 
both reports. This of course comes after the global economy has faced many challenges during the 
review period, not least in light of the global pandemic, to which the Sultanate of O man has 
commendably responded by implementing a number of economic measures to reinstate 
macroeconomic stability and enable businesses to navigate the economic turbulence.  
4.122.   We are pleased that the report shows the various efforts undertaken by the Sultanate of 
Oman, under its Oman Vision  2040 development strategy, in advancing the country's economic 
development and diversification agenda , including, among other things, a commitment to raise real 
GDP per  capita by 90% and real GDP growth by 5% annual ly over the course of the next 20  years.  
4.123.   Looking forward, we view great interest and opportunity in investment in the Sultanate of 
Oman and its potential for attracting Foreign Direct Investment to our region. As the report shows, 
the investment regime is a priority area for Oman 's economic development as the Sultanate actively 
promotes both domestic and foreign investment to enhance economic growth and development. To 
this end, the Sultanate of Oman aims to enhance the contribution of foreign direct invest ment to 
DGP by 10%.  
4.124.   I cannot conclude this statement without highlighting Oman 's role as a long standing and 
strong supporter of the WTO and the multilateral trading system. During the period under review, 
the Sultanate of Oman deepened its active particip ation and deliberation at the WTO Councils and 
Committees , thereby attesting to its full support and belief in the effectiveness of an open and rules -
based multilateral trading system in contributing to global economic development and prosperity.  
4.125.   Finally, we would like to thank the discussant for his remarks and active discussion and the 
WTO Secretariat for their efforts in preparing the detailed reports and we wish the Sultanate of 
Oman every success in its Trade Policy Review.  
JORDAN  
4.126.   First, we fully assoc iate ourselves with the statement delivered by the Kingdom of 
Saudi  Arabia on behalf of the Arab Group. Jordan would also like to join other delegations in 
welcoming H.E.  Mr Qais Mohammed  Al Yousuf, Minister of Commerce, Industry and Investment 
Promotion a nd his distinguished delegation, and to congratulate them for participation in this crucial 
exercise as well as for the efforts of preparing Oman 's report, despite the challenges imposed by the 
pandemic.  
4.127.   We would like to thank the Secretariat for providing  a comprehensive and oversight picture 
of the main developments in the Oman 's economy and trade regime for the period under review. 
Our appreciation is also extended to the discussant for his insightful and thorough remarks.  
4.128.   We commend the Sultanate of Oma n for their commitment to trade liberalization under the 
multilateral trading system centred  on WTO since its accession in November  2000, and for a wide 
range of open, liberal, and transparent trade policy based on the rules and principles of the WTO 
aimed  at modernizing the economy.  
4.129.   This has been translated through its membership in the Gulf Cooperation Council and the 
Great Arab Free Trade Area together with its bilateral preferential agreements and FTAs signed with 
different countries and regions, includ ing Jordan, and the other FTAs which are negotiated. Those 
memberships attest to the commitment of our brotherly country Oman in its efforts to implement 
policies of trade liberalization and pursuing a policy of open trade that is all in compliance with an d 
supportive of the multilateral trading system.  
4.130.   As a WTO Member, we thank Sultanate of Oman for ratifying the protocol concerning the 
WTO Trade Facilitation Agreement in 2017 and officially implemented 100% of their commitments 
under the Agreement in 2020 . WT/TPR/M/418 • Oman  
 
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  4.131.   The sustained economic growth rates and the progressive economic policies are remarkable; 
which is shown at the launch of ambitious and comprehensive Vision  2040 enshrines the long -term 
goals of Oman that identifies economic diversification, fiscal susta inability, private sector 
development, the attraction of sizable foreign direct investment, and international cooperation.  
4.132.   We should not forget to mention the trade and economic policy measures adopted by the 
Government of the Sultanate of Oman, during the  period under review, reflect its commitment to 
the economic transformation and growth of the country. Especially, in the wake of the COVID -19 
crisis, Oman approved the practice of direct  imports from the country of origin, to speed up the 
clearance proces s and reduce costs. It also utilized the transition to electronic submission of 
documents and virtual customs clearance.  
4.133.   On the bilateral side, the brotherly and historical relations that Jordan and Oman enjoy, is a 
symbol of a successful and fruitful part nership, trade between Oman and Jordan has witnessed a 
remarkable growth, as both countries acknowledge that trade is one of the main means of 
development and to mutually benefit with the potentials available in both countries.  
4.134.   Finally, we would like to thank and congratulate the Permanent Representative of Oman in 
Geneva and his whole team for their very constructive role in preserving and consolidating the 
multilateral trading system.  We wish our brothers a productive and a successful Trade Policy Revie w. 
YEMEN  
4.135.   The Republic of Yemen wishes to congratulate the Sultanate of Oman on its third  WTO Trade 
Policy Review. Yemen congratulates Oman for its adoption and implementation of an open economic 
and trade policy. Despite a number of challenges, including the recent COVID -19 pandemic, the 
Government of Oman has continued to undertake reforms aimed at macroeconomic stability and to 
promote economic diversification thanks to increased private sector participation and foreign 
investment.  
4.136.   Yemen greatl y appreciates the ambitious goals of Oman, as detailed in its second 
Vision  2040, as well as its 10th five-year plan as an executive roadmap. The second Vision  2040 is a 
frame of reference for the national priorities and activities planned for the next two  decades. It is 
therefore unsurprising that this Vision has attracted high levels of stakeholder participation and 
achieved a national consensus.  
4.137.   Lastly, Chair, Oman actively participates in regular WTO activities, as well as in various areas 
of negotiatio n. The proactive policy adopted by the Government of Oman in relation to a number of 
reforms has greatly facilitated its engagement in the WTO multilateral trade negotiations.  
4.138.   We wish Oman every success in achieving its goals and in its third Trade Policy Review.  
ARGENTINA  
4.139.   We would like to join other Members in welcoming the delegation of Oman, led by 
H.E. Mr Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion.  
4.140.   We are grateful for the reports prepared by Oman and by the Secretar iat, which offer a 
comprehensive overview of this Member's trade policies. We also thank Ambassador  Muhammad 
Mujtaba Piracha for his comments and observations, which have allowed us to expand our knowledge 
of Omani business practices and the economic envir onment in which the country operates.  
4.141.   Argentina maintains strong trade links with Oman. Bilateral trade between our countries was 
worth USD  131 million in 2020. Our primary exports to Oman are cereals, animal feed, machinery 
and mechanical appliances. In t urn, Oman provides us with fuels, distillates and plastics.  
4.142.   Trade between our countries has increased significantly in recent years. It remains, however, 
far from its potential. We think that there are great opportunities for trade in the fields of 
pharmac euticals, food, and oil and gas -related products.  WT/TPR/M/418 • Oman  
 
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  4.143.   Argentina acknowledges the challenges facing Oman as a result of the economic crisis caused 
by the pandemic and the decline of international oil prices. These include the need to diversify the 
economy to re duce dependence on the oil sector; fiscal sustainability; and job creation. We welcome 
the fact that Oman is addressing these issues in its Vision  2040, maintaining an economic policy 
based on trade liberalization and the creation of a favourable business climate.  
4.144.   We agree with Oman that it is necessary to work in a responsible and constructive manner 
within the WTO to strengthen the rules -based multilateral trading system. In addition to its 
compliance with notification requirements, Oman is an active part icipant in WTO activities. Also 
noteworthy are the country's active role in the General Council, the Council for Trade in Goods and 
the TRIPS Council, and its support of the negotiations on the Doha Agenda in the interest of all 
developing countries.  
4.145.   We would like to take this opportunity to reiterate our intention to work with Oman to achieve 
substantive outcomes at MC12 with the aim of establishing a fairer multilateral trading system that 
meets the needs of developing countries.  
4.146.   Lastly, we would like t o emphasize that Argentina wishes to continue to expand its trade 
relations with Oman and believes South -South cooperation to be a key pillar in strengthening these 
ties, based on the principles of complementarity, equality and solidarity.  
4.147.   Allow me to conc lude by once again thanking the distinguished delegation of Oman, you, 
Ambassador  Piracha, and the Secretariat for this new opportunity to exchange views on Omani trade 
policies. We reaffirm the importance of this exercise in all its aspects and wish the M inister of 
Commerce, Industry and Investment Promotion and his whole delegation a successful conclusion to 
this Review.  
TUNISIA  
4.148.   My delegation has the pleasure of participating in the third  Trade Policy Review of the 
Sultanate of Oman and we welcome the Oma ni delegation, led by H.E.  Mr Qais Mohammed  Al Yousef, 
Minister of Commerce, Industry and Investment Promotion, to whom we would like to convey our 
appreciation for the exhaustive report on our brother country's economic situation and trade policy.  
4.149.   We also  congratulate the Secretariat for the comprehensive report presented to us for this 
Review and H.E.  Ambassador  Muhammad  Mujtaba  Piracha (Pakistan) for his pertinent comments.  
4.150.   My delegation would like to highlight the significant efforts made by the Sultana te of Oman 
since its previous Trade Policy Review to pursue its policy of economic and trade liberalization by 
strengthening the process of opening up its economy, establishing an environment conducive to 
promoting investment, and diversifying trade and ec onomic relations with its partners, including 
Tunisia.  
4.151.   Since its last Trade Policy Review, Oman has had to confront a dual challenge, namely, the 
decline in oil prices and, like all countries, the COVID -19 pandemic.  
4.152.   Oman has adopted a number of measures to  reduce its economic and social impact, which 
has enabled the progressive restoration of growth, estimated at 2.5% for 2021, in particular by 
allowing an early resumption of activities thanks to the efficient roll -out of vaccines to citizens.  
4.153.   Faced with t he demands of the pandemic, the Omani authorities have also shown 
considerable adaptability in facilitating trade during the crisis period, such as by reducing the average 
customs clearance time for imports to just seven hours and by strengthening electron ic transitions 
and virtual customs clearance.  
4.154.   The Sultanate of Oman is committed to an ambitious and consistent policy of encouraging 
investment in infrastructure and improving the social security coverage of Omani citizens.  
4.155.   In this context, my delegation would like to congratulate Oman on its Vision  2040 and its 
successive five -year plans aimed at achieving developed country status by 2040 by diversifying its WT/TPR/M/418 • Oman  
 
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  non-oil economy and creating employment opportunities for Omanis. In that regard, we would like 
to highlight the conclusions of the report on the impact of a low oil price on the growth of the non -oil 
sector, based on significant monetary stimulus measures.  
4.156.   The Sultanate, thanks to its Vision  2040, plans to capitalize on its potential in tourism, a key  
sector in the country's diversification programme and a major source of employment.  
4.157.   The report also highlights the still considerable involvement of the State in a number of 
competitive sectors. Removing investment restrictions and opening up to the private sector would 
be beneficial to the Omani economy.  
4.158.   Since joining the WTO, Oman has played a consistently active role in the Organization and 
has been an ardent supporter of the rules -based multilateral trading system. We appreciate its 
involvement in  negotiations, particularly on fisheries subsidies, a strategic sector for the Sultanate 
and for a number of developing countries.  
4.159.   Tunisia and Oman enjoy a close relationship of friendship and cooperation, and of trade 
between our countries, within the fr amework of the 1992 Muscat economic and trade agreement 
and the Greater Arab Free Trade Area.  
4.160.   The Trade Cooperation and Investment Committee, created in 2005, is responsible for 
monitoring the development of cooperation. Trade between our two countries was  worth close to 
USD 20 million in 2020.  
4.161.   Our two  countries are determined to strengthen and consolidate this cooperation in all areas, 
particularly those of shared interest, such as tourism, handicrafts, agriculture and fisheries.  
4.162.   Lastly, I would like to co ngratulate H.E.  Ambassador  Idris Al Khanjari, Permanent 
Representative of the Sultanate of Oman to the WTO, as well as his team, for their active 
engagement in the WTO's work and in the round of trade negotiations carried out in Geneva. We 
wish our brother s in Oman a very successful Trade Policy Review.  
REPUBLIC  OF KOREA  
4.163.   I would like to extend a warm welcome to the delegates in Geneva as well as in Muscat for 
the third Trade Policy Review of Oman. I would like to especially thank Minister of Commerce, 
Industry, and Investment Promotion, H.E.  Qais Mohammed  Al Yousef.  
4.164.   My special appreciation also goes to Ambassador  Muhammad  Mujtaba  Piracha (Pakistan) for 
his contribution  as a discussant and to the Secretariat for its informative report.  
4.165.   Also, I would like to thank Ambassador  Idris Al Khanjari (Oman) and his team for their hard 
work.  
4.166.   Korea takes note that although Oman is relatively less hydrocarbon -rich than its neighbou rs, 
Oman 's economy and trade continues to be heavily dependent on oil and gas and shows certain 
structural weaknesses since oil markets have been volatile.  
4.167.   As a result of the low oil price during the review period, government gross debt has increased 
from 5.4% in 2014 to 81% of GDP in 2020. Recent recovery trend of oil prices would be helpful to 
improve government debt in the future.  
4.168.   Korea would like to note that Oman has launched Vision  2040 in 2021. The Vision identifies 
economic diversification, fiscal sustainability, private sector development, the attraction of sizable 
foreign direct investment, and international cooperation.  
4.169.   Oman is a member of the GCC and the Pan -Arab Free Trade Area Treaty. Oman has an FTA 
with the United States, as well as with Si ngapore and the European Free Trade Association through 
the GCC. The GCC has started FTA negotiations with Korea from 2009, but the negotiation is 
currently suspended.  WT/TPR/M/418 • Oman  
 
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  4.170.   Under the new Foreign Capital Investment Law, the former requirement of 30% Omani 
owners hip was revoked. However, foreign investment projects must comply with inspection and 
monitoring procedures. Land ownership by foreigners is also generally prohibited. These remaining 
regulations might raise questions about the potential trade -distorting e ffects.  
4.171.   Korea was Oman’s fourth largest export partner in 2019 and third largest in 2020. As one of 
the largest petroleum suppliers to Korea, Oman has played an important role in Korea’s economic 
growth.  
4.172.   Although bilateral trade decreased in 2020 due to t he decline in oil prices, we believe that 
both countries will continue to build a comprehensive economic partnership based on the close 
economic relations developed so far.  
4.173.   Taking this opportunity, I would like to ask a few questions to the delegation of O man. 
4.174.   First, it appears that the agricultural sector in Oman faces various challenges, such as the 
scarcity of irrigation water and declining quality of soil due to increasing salinization. What is Oman's 
strategy regarding this matter?  
4.175.   Second, a lot of cou ntries in the world have great difficulty in attracting the young generation 
to be involved in the agricultural sector. What is Oman 's strategy for attracting young generation to 
the agricultural sector?   
4.176.   Third, Oman 's population is very young. The age -dependency ratio is below 40% and around 
half the population is under 30. This age structure implies pressures for the Government to create 
jobs for the young. What is Oman 's strategy for creating jobs for the young generation?  
4.177.   Fourth, if the COVID -19 pandem ic situation improves in the future, the tourism sector could 
be identified as key to the country 's diversification program and considered as a source of significant 
employment. However, state involvement in the sector is quite large, while foreign investm ent 
restrictions remain in place. Are there any plans to make a structural reform in the tourism sector 
to attract foreign investment?  
4.178.   Considering the large population of the young generation, we note that Oman needs to pay 
great attention to building hea lthy and skilled human capital. Education and vocational training are 
definitely the sectors to be financed by public resources. Young people in a young country can do 
anything positively in any area if they are well educated and trained.  
4.179.   Korea would like to once again highlight Oman 's efforts to contribute to a more open, 
transparent, and efficient overall trading environment.  
4.180.   Let me conclude by expressing our sincere appreciation once more to the delegation of Oman 
for its hard work and wishing the delegation a successful T rade Policy Review.  
QATAR  
4.181.   Qatar would like to associate itself by the statement delivered by the delegation of the 
Kingdom of Saudi Arabia on behalf of the Arab Group and the delegation of Bahrain on behalf of the 
GCC.  
4.182.   Allow me to start by extending our warmest welcoming messages to H.E.  Mr Qais 
Mohammed Al Yousuf, Minister of Commerce, Industry and Investment Promotion, and the whole 
Omani delegation whose efforts are very apparent in the reports and the statement. We would like  
to thank you also Madam Chair, as well as the Secretariat, and the discussant H.E.  Mr Mujtaba 
Piracha, Ambassador and Permanent Representative of Pakistan to the WTO, for his outstanding 
presentation.  
4.183.   Qatar and Oman share a multi -layer and robust politic al and economic relations, our 
countries are strong partners with similar economic characteristics.  WT/TPR/M/418 • Oman  
 
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  4.184.   For the period under review which was marked by an unprecedented health and economic 
crisis triggered by the COVID -19 pandemic, Qatar would like to applaud Oman commitment to keep 
its markets open, promoting competition, and supporting businesses and workers throughout the 
crisis; Oman has committed a considerable amount of its GDP in economic, social and health support.  
4.185.   We would like also to commend Oman on its Vision  2040 which constitutes guide and key 
reference for planning activities in the next two decades, prioritizing economic diversification, fiscal 
sustainability, private sector development, the attraction of sizable foreign direct investment, and 
international cooperation.  
4.186.   Qatar would like to note also that Oman has consistently supported efforts to strengthen the 
rules-based multilateral trading system and to ensure that the WTO remains relevant for the future.  
4.187.   Oman has participated actively in WTO negotiations to address important issues such as the 
fisheries subsides and is also actively involved in ongoing WTO discussions on forward -looking issues 
like trade and health.  
4.188.   In conclusion, we commend Oman role in the multilateral trading system and we  wish the 
Omani delegation every success for its T rade Policy Review . 
NEPAL  
4.189.   At the outset, I would like to extend my warm welcome to the delegation of Sultanate of 
Oman led by H.E.  Mr Qais Mohammed  Al Yousef , Minister of Commerce, Industry and Investment 
Promotion at this meeting convened for reviewing the existing trade policy of the country.  
4.190.   I wish to thank H.E.  Mr Mujtaba  Piracha (Pakistan) for his insightful deliberation as 
discussant for the review of Oman.  
4.191.   My delegation would also like to thank to the  Government of Oman and the WTO Secretariat 
for preparing and submitting the comprehensive reports on existing trade policy of Oman on their 
respective behalf.  
4.192.   In this occasion, I would like touch briefly upon the facts mentioned in the trade policy 
report s prepared and submitted by the Secretariat and the Sultanate of Oman.  
4.193.   The reports highlighted that the Government of Oman has shown continued commitment 
towards rule -based, predictable, and liberalized international trade policies and practices. This is 
praiseworthy chair.  
4.194.   As goals stipulated in "Oman Second Vision  2040" document which identifies economic 
diversification, fiscal sustainability, private sector development and the attraction of sizable FDI with 
targeted indicators and priorities seems to be instrumental for sustainable economic and social 
development of the  country.  
4.195.   Furthermore, the national blue print envisions the share of no -oil activities to grow to more 
than 90% of GDP, as well as a 40% contribution to job creation by the private sector. The five  year 
plan under the same vision document, aims at develo ping a society of creative individuals, a 
competitive economy, environmental and natural resources, besides a state with responsible 
apparatus are encouraging national commitments.  
4.196.   Efforts and achievements made by the Government of Oman in overcoming the c hallenges 
posed by different socio -economic phenomenon including C OVID -19 pandemic through 
macroeconomic stability including a combination of policy reforms, implementation of a value -added 
tax, amendments to several existing taxes and investment regimes, digitalization of economic and 
governance activities remained commendable.  
4.197.   My delegation believes that the current and long -term policy goals envisioned by the 
leadership in order to pursue sustainable economic growth, maintaining financial stability, WT/TPR/M/418 • Oman  
 
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  diversification of overall economy and trade and strong wiliness to increase investment in human 
capital are valuable efforts undertaken by the Government of Oman.  
4.198.   Let me turn to bilateral front. Nepal and Sultanate of Oman have been enjoying cordial and 
friendly relation since the establishment diplomatic relation in 1977. Mutual trust, respect, 
understanding and cooperation have remained the strong basis of bilateral relations.  
4.199.   Nepal and the Sultanate of Oman share common views on several global agenda and i ssues 
through different international forums such as the United Nations, Non -Aligned Movement (NAM), 
G-77, WTO , etc. 
4.200.   There is huge potential of further enhancing the bilateral cooperation between Nepal and the 
Sultanate of Oman in the areas of economic, tr ade, investment, tourism,  and foreign employment if 
explored well by both countries.  
4.201.   The bilateral trade between Nepal and Oman is growing over the period. In 2020, Nepal 
imported products from Oman of above NPR 4 billion whereas Nepal 's exports accounted just about 
NPR 1 million resulting above  NPR 4 billion negative trade balance for Nepal.  
4.202.   Tourism is another important area where both countries have huge potentials for mutual 
benefits. For instance, Nepal could provide best alternative ambience for Omani tourists to spend 
their holidays and in doing other touristic activities. Endowed with natural beauty, culture and 
hospitable Nepali people, Nepal can be destination of choice for Omanis.  
4.203.   The sultanate of Oman has become one of the most preferred destinati ons for employment 
opportunities for Nepali workers whereas honest and loyal Nepali youths are important source of 
labour  force in Oman to carry out the developmental and industrial works since the past numbers of 
years.  
4.204.   In this regard, my delegation hopes , by exploring and leveraging the cooperation in above 
areas, both countries will be able to further cement the bilateral ties in economic, trade and 
investment, social, cultural and people to people levels ahead in future.  
4.205.   Having said this Chair, I would like to express my best wishes to the delegation of Sultanate 
of Oman for the successful conclusion of this round of Trade Policy Review . 
EGYPT  
4.206.   Egypt associates itself with the statement delivered by Saudi Arabia on behalf of the 
Arab Group and wishes to join others in extending a very warm welcome to H .E. Mr Qais Bin -
Mohamed Al  Yousef, Honourable Minister of Commerce, Industry and Investment Promotion of 
Oman, and the esteemed delegation from Muscat and in Geneva.  
4.207.   We thank the Government of Oman and the WTO Secretariat for their detailed reports, as 
well as H .E. Ambassador  Mujtaba  Piracha (Pakistan) for his insightful comments as discussant.  
4.208.   Although Oman 's economy was heavily hit by the C OVID -19 pandemic to the extent that it 
contracted by 6.4% last year, it was able to swiftly respond with a series of commendable measures, 
which helped in making growth projections of 2.5% this year.  
4.209.   We hope that the pandemic would not impede Oman 's ambitious 2040 strategy, which paves 
the way for a sound macroeconomic foundation based on diversification, foreign investment and job 
creation.  
4.210.   We commend Oman 's commitment to the multilateral trading system. This is evident in its 
constructive contribution to various discussions at the WTO and exc ellent record in submitting 
notifications, as well as its full implementation of the Trade Facilitation Agreement, and transition to 
virtual customs clearance, reducing the average clearance time for imports to an impressive seven 
hours.  WT/TPR/M/418 • Oman  
 
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  4.211.   Egypt praises Oman  for implementing a set of economic reforms towards a more conducive 
and open trade and investment environment. In this regard, the Secretariat report highlights the 
Anti-Monopoly and Competition Law, and the legislation on Consumer Protection, both adopte d in 
2014, in addition to some progress to strengthen intellectual property rights, including the current 
formulation of the National Strategy for IP in route to a knowledge -based economy. We believe that 
continued reforms of such may help Oman 's quest for  economic diversification.  
4.212.   Egypt and Oman share brotherly, historical and well -established ties, and our economic 
relations are no exception. Bilateral trade witnessed steady figures during the review period and  has 
shown increasing trajectories in 2021 su rpassing USD half a billion.  
4.213.   Egypt applauds Oman 's positive contribution to the advancement of Arab economic 
integration. We share the membership of the Pan -Arab Free trade Agreement (PAFTA ) and  look 
forward to deepening  our economic relations in this reg ard. 
4.214.   Egyptian investments in Oman reached some USD 680 million this year, mostly in the fields 
of infrastructure and real estate, while Omani investments in Egypt have increased in the fields of 
industry, tourism, construction,  and agriculture. Nevertheles s, we strongly encourage Oman to 
continue expanding its investment flows to Egypt and make good use of increasing opportunities in 
various economic sectors.  
4.215.   Finally, Egypt congratulates our Omani brothers on their National Day tomorrow and  wishes 
them a su ccessful and fruitful Trade Policy Review.  
BANGLADESH  
4.216.   At the outset, Bangladeshi delegation welcomes H.E. Mr Qais bin Mohammed  Al Yousef, 
Minister of Commerce, Industry and Investment Promotion  and head of delegation for his 
introductory presentation at the third TPR of Oman. Bangladeshi delegation also thanks 
H.E. Ambassador  Mujtaba  Piracha (Pakistan)  for his insightful discussions. Our sincere appreciation  
also goes to the Government of the Su ltanate of Oman and the Secretariat for the comprehensive 
reports.  
4.217.   The relationship between our two countries have been friendly since the conception of 
diplomatic relations, o ur bilateral ties have been  further bolstered with the high -level visits from 
both sides .  
4.218.   Bangladesh is delighted to note the great strides and significant progress  that Oman has 
made during the review period. We see that the prudent macro -economic measures adopted by the 
country have resulted in impressive economic growth and remark able improvement in almost all 
indices.  
4.219.   As is relatively less hydrocarbon -rich than its neighbours, oil and gas still play a significant 
role in the Omani economy . In 2020, the oil and gas sector accounted for 26.2% of GDP, represented 
about 60% of Oman's merchandise exports, and contributed three quarters of total government 
revenues.   
4.220.   the review period, Oman faced a double challenge from low oil prices and the COVID -19 
pandemic; Oman's economy grew to a peak in 2016 at a rate of 5.1% before it began to sharp down 
in 2017. The economy contracted by 0.8% in 2019, and further 6.4% in 2020 . Oman operates a 
pegged exchange rate regime with the US  dollar. However, the liquidity in the domestic money 
market is highly associated with oil prices.  
4.221.   Merchandise im ports declined by about 25% during the review period, and export s dropped 
by about 28%, mostly owing to low prices of hydrocarbon exports. Consequently, the current 
account has been in deficit since 2015, and is estimated to continue its widening trend. As  of 
end-2020, the current account deficit was equivalent to 10% of GDP. Reflecting stable foreign direct 
investment (FDI) inflows and a bond issuance, Oman's international reserves slightly declined. Asian 
economies are Oman's top oil export markets, while  its Gulf Cooperation Council (GCC) neighbours 
are its major trading partners with regard to non -oil trade.  WT/TPR/M/418 • Oman  
 
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  4.222.   With the "Vision  2040" which is comprehensive and covers all aspects of development and 
real opportunities, Oman's Government hope to move to new s tage of progress.  
4.223.   The Sultanate of Oman recognize d Bangladesh in 1974 , Bangladesh established her 
diplomatic mission in Oman in March  1983. Since then, the two countries have been maintaining 
cordial relations. Oman was one of the first Arab countries to e xtend support to Bangladesh's 
membership at the UN and other international organizations. Bangladesh upgraded its mission in 
Oman in 1996 at the level of Ambassador , and Oman established its full -fledged embassy in Dhaka 
in 2012.    
4.224.   During the last decades bilateral trade between Bangladesh and Oman has g rown but in a 
low space. We have much more scope to expand and diversify the bilateral trade items ; Bangladeshi 
products like  RMG garments ; ceramics ; pharmaceuticals ; leather products ; frozen fish ; jute; and 
jute products ; processed food ; etc. were demanded and prospective the Omani market.  Our 
businessmen are confident  that they can supply most of the products to Oman at much more 
competitive prices.  We seek your cooperation for facilitating access of our products into the Omani 
market.  
4.225.   In this connection, we would like to propose  that our two countries could explore the 
possibility to maximize the available synergies in trade for mutual benefit.  
4.226.    To conclude , we wish t he delegation of Oman a productive and successful Trade Policy 
Review, my delegation will continue to work closely with the Omani delegation, led by Ambassado r 
H.E. Mr Idris Al Khanjari , to strengthen multilateral trading system, as we assist our countries to 
enhance our bilateral trade ties.   
HONDURAS  
4.227.   We would like to start by extending a warm welcome to the delegation of Oman, led by the 
head of delegation Mr  Qais Mohammed  Al Yousef, Minister of Commerce, Industry and Investment 
Promotion.  
4.228.   As usual, we extend our thanks to the Chair, the Secretariat and the discussant for their 
valuable observations and comments during this Review.  
4.229.   With regard to the reports under review, we are pleased to note that, during the review 
period, the Omani economy grew to a peak in 2016 at a rate of 5.1%, before it began a sharp 
slowdown in 2017 to then shrink in 2019 and 2020. The economy is expected to grow by 2.5% i n 
2021, as the vaccine roll -out allows for the restoration of internal activity alongside the recovery of 
external demand.  
4.230.   On the other hand, we take note of the economic goals established by Oman in its 
Vision  2040 and its successive five -year plans, with  the aim of reaching developed country status 
by 2040, diversifying its production and exports, creating employment opportunities, achieving a 
balanced budget, attracting more foreign investment, maintaining low inflation rates and reducing 
its oil depende ncy. 
4.231.   We also note with interest the National Innovation Strategy, which reflects the vision and 
progress of Oman in its efforts to become one of the world's 20  most innovative countries by 2040, 
based on the pillars of human capital, institutional and comm unity integration, intellectual property, 
knowledge transfer and economic diversification.  
4.232.   The reports indicate that, since the last Review, Oman's telecommunications infrastructure 
has improved significantly and, as part of the implementation of the Natio nal Broadband Strategy, 
Space Communication Technologies, a 100% state -owned company, was created in 2018 to focus 
on the national satellite project.  
4.233.   On the other hand, we note that the agriculture, livestock and fisheries sectors are 
considered key to the  Omani diversification strategy and, in October  2017, Oman introduced its WT/TPR/M/418 • Oman  
 
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  first ever agricultural insurance, which not only covers farmers against the loss of or damage to 
agriculture crops and greenhouses, but also extends to stockbreeders and fishermen.  
4.234.   We are pleased to see that Oman has improved its ranking in Transparency International's 
Corruption Perceptions Index and that the country is in the very high human development category. 
It also ranked 68th out of 190 economies in the World Bank's Ease of Doing Business index, taking 
32nd place in the Starting a Business indicator, and ranked 63rd out of 193 economies in the 
Telecommunications Infrastructure Indicator in the United Nations E -Government Survey 2020.  
4.235.   Lastly, Honduras acknowledges the contributions and the active participation of Oman across 
WTO bodies and we wish the country every su ccess with its Trade Policy Review.  
JAPAN  
4.236.   Japan welcomes the Delegation of Oman led by H.E.  Mr Qais Mohammed  Al Yousef, Minister 
of Commerce, Industry and Investment Promotion. We sincerely appreciate the reports prepared by 
the WTO Secretariat and the Gov ernment of Oman, which form the basis for our discussion today. 
We are also grateful to the Discussant, H.E.  Mr Muhammad  Mujtaba  Piracha, Ambassador of 
Pakistan, for his insightful remarks.   
4.237.   Japan welcomes Oman's efforts on the structural reform, includin g privatization, in order to 
foster economic diversification based on the "Oman Vision  2040". Although the COVID -19 pandemic 
has had adverse impacts on Oman 's economy, Japan expects that it will continue to grow under the 
multilateral trading system.  
4.238.   Since  the last TPR of Oman in 2014, we have forged a more solid economic relationship 
between our two countries. The Japan -Oman Investment Agreement came into effect in 2017. In 
December  2019, dozens of Japanese companies carried out business missions to Oman, including 
visits to the Duqm Special Economic Zone, and exchanged opinions on investment in the country. 
Former Prime Minister Abe visited Oman last year in order to further strengthen relations between 
Oman and Japan. Next year marks the 50th anniversary of the establishment of diplomatic relations 
between Japan and Oman, and we would like to continue accelerating our cooperation.  
4.239.   Japan acknowledges that Oman has been engaging in pluri -lateral agreements at the WTO, 
such as the Information Technology Agree ment and the Agreement on Government Procurement, 
as a participant and an observer respectively. We look forward to Oman 's further contributions 
towards MC12.  
4.240.   Japan values the fact that the environment for foreign direct investment has been improved 
with the New Foreign Capital Investment Law that came into effect in January  2020, removing the 
local shareholder requirement. We also recognize that Oman has signed and concluded 35  bilateral 
investment agreements and 35  tax treaties, including those with Japa n.  
4.241.   On the other hand, at the ground level, it has been reported that some contractors faced 
challenges due to the lack of coordination between the central government and relevant 
organizations in government -led projects. Therefore, we expect Oman to make further efforts to 
improve its business environment.  
4.242.   Regarding the issuance of visas to foreign workers, Japan recognizes that visa applications 
are often rejected, and the criteria are unclear. We are also informed that the authorities recommend 
Japanese companies to prioritize the hiring of Omani people. However, it can be challenging for 
Japanese businesses to follow the recommendation when they need to secure technicians with 
specific skills. Therefore, we expect to see an improvement in this situa tion in order to make it 
possible for human capital who can contribute to the Omani economy by participating in the 
economy.  
4.243.   To conclude, Japan expresses its appreciation for Oman 's participation in this Trade Policy 
Review despite the ongoing COVID -19 pan demic, as well as Oman 's efforts to improve its trading 
environment since the last review.  We wish the delegation of Oman every success in this Trade 
Policy Review.  WT/TPR/M/418 • Oman  
 
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  5  REPLIES BY THE REPRESENTATIVE OF OMAN  AND ADDITIONAL COMMENTS  
5.1.  On behalf of the Sultanate of  Oman 's delegation, I should like to thank our Chairperson 
H.E. Ambassador  Dr Athaliah  Molokomme, Permanent Representative of Botswana to the WTO and 
to the discussant H .E. Dr Muhammed  Mujtaba  Piracha, Pakistan 's Permanent Representative to the 
WTO and to all distinguished delegates for their presence and participation in this meeting and for 
their support and kind words of encouragement for the Sultanate of Oman's economic and trade 
policies.  
5.2.  Under the wise leadership and guidance of His  Majesty  Sultan  Haitham bin Tarik, the Sultanate 
of Oman continues to implement trade policies that are consistent with its WTO obligations, 
maintaining an open, free and transparent economy, fully conforming to the basic principles and 
rules of the multilateral trading syst em. 
5.3.  Indeed, this third Trade Policy Review reinforces our continued adherence to the rules, 
disciplines and commitments under WTO Agreements.  
5.4.  A number of distinguished delegates raised questions and made comments at the meeting held  
on 17 November  2021. I greatly appreciate their keen interest in Oman and will attempt to the best 
of our abilities to respond to these.  
5.5.  We have taken careful note of the concerns raised by the distinguished delegations and I am 
pleased to report that written replies hav e already been sent to the Secretariat.  
5.6.  Members raised questions about the policy of "Omanization " of labour force. I should like to 
make clear that this policy does not discriminate against foreign professionals nor prevent them 
from working in Oman and c ontributing to our continued social and economic development.  
5.7.  However, the policy is designed to provide career opportunities for young, qualified Omani 
nationals. Indeed, it is surely the responsibility of every government to provide attractive, rewarding  
and sustainable job opportunities to its citizens.  
5.8.  The Government and people of Oman greatly appreciate and respect the invaluable role foreign 
expertise has played and continues to play in our nation 's development. We fully acknowledge the 
need for international expertise where local skills are unavailable. Moreover, we understand that if 
we are to remain a successful economy then we must be able to attract and retain specialist talents 
in what is a highly mobile global market for skills.  
5.9.  Moving on t o the Government Procurement Agreement, some members have encouraged 
Oman to join the GPA. We thank them for their interest and advice. Oman is still in the process of 
examining the preparation required for its accession to the GPA. It's worth noting also that since 
2020 Oman was restructuring its government at a large scale and thus many ministries and 
authorities were merged to meet the new requirements of the current and future objectives.  
5.10.   With regards to concern raised by the European Union on food safe ty, we would like to assure 
that the Ministry of Commerce, Industry and Investment Promotion will continue coordination with 
the food safety and Quality control center to ensure that market access for importing of olive oil 
extra virgin and pomace oil woul d be carried out smoothly.  
5.11.   In relation to Brazil 's concern about their specific interest for products based on bovine and 
poultry, we would like to reinstate that a written response was submitted to the secretariat clarifying 
the inquiry and share the like wise hope that those products can become bulwark of our mutual trade 
relationship.  
5.12.   As for Thailand 's question about liberalization of services sectors particularly banking and 
telecommunication, we replied to these questions in written.  
5.13.   With respect to urg ing to involve in the Joint Statement Initiatives, Oman follows with great 
interest the progress in which members are making on this plurilateral negotiations and continues 
to assess the advantages of joining such initiatives.  WT/TPR/M/418 • Oman  
 
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  5.14.   Regarding questions on excise  taxes levied on beverages put by the United  States , the GCC 
Tax Working Group is reviewing all aspects related to the Unified Excise Tax Treaty for the GCC on 
beverage drinks. Stakeholders, including the private sector, are involved in this review process . 
5.15.   It is important to mention that Oman applies the same tax rate on all excisable goods and 
ensures equal tax treatment, whether those excisable goods are produced in Oman or imported.  
5.16.   I should also like to emphasize that the excise regime is not and has n ever been discriminatory 
in any way. The difference in the tax rate between energy drinks and sweetened drinks is based on 
the inherent difference between the types and contents of the beverages. Therefore, the appropriate 
tax rate applies to a drink depen ding on how it is categorized based on the legal definition for each 
type of beverage.  
5.17.   As mentioned, Oman is working with other GCC member states to ensure any tax amendment 
is implemented consistently. GCC members will agree on the principles and common f ramework for 
adapting any new tax policy and each state will implement based on its own policy and readiness.  
5.18.   In response to questions on women empowerment from Iceland. Article  17 of Oman 's Basic 
Statute of the State declares, and I quote:  "All citizens a re equal before the Law and share the same 
public rights and duties. There shall be no discrimination between them on the grounds of gender, 
origin, colour, language, religion, sect, domicile, or social status. " 
5.19.   Today, I am proud to say Omani women work in  a wide variety of roles in the armed forces, 
police, major local and international companies, technology, medicine, finance, education, sport, the 
arts, and more.  
5.20.   Furthermore, there are no barriers to women conducting business in Oman and the 
government c reated a number of public organizations designed to support women 's participation in 
economic life.  
5.21.   Several members had comments related to Oman's investment regime . In response, I should 
like to draw your attention to Oman 's 2019 Foreign Capital Investmen t Law, which allows foreign 
ownership of up to 100% in almost all Omani economic sectors.  This important legislation specifically 
promotes foreign capital investment in sectors including manufacturing, logistics, mining, tourism, 
fisheries, IT, healthcare , and the low carbon economy.  
5.22.   Further facilitating investment in Oman is Invest Easy, the Ministry of Commerce, Industry 
and Investment Promotion 's one - stop-shop portal for registering new businesses – an online service 
that reduces procedures as well as time to complete investor transactions.  
5.23.   Today, via Invest Easy, investors can obtain approval for more than 1,500  economic activities , 
issuing one document that includes all licenses and approvals from ten leading authorities in less 
than 24  hours.  
5.24.   I am pl eased to report to members that since the launch of the new licensing approval service 
in April, nearly 54,000  applicants have received approvals. Licensing approvals that can now be 
issued in a matter of minutes.  
5.25.   It is also important to mention that Oman has made several liberal investment commitments 
in a number of key economic areas including banking, financial services and telecommunications.  
5.26.   On commercial registration fees paid by international companies, a topic raised by Canada, I 
am pleased to repor t that businesses registered in accordance with Oman 's foreign capital 
investment law and  investing in sectors supporting Oman 's diversifications efforts well be treated as 
same as companies owned by Omani nationals. This incentive covers 1,106  economic ac tivities.  
5.27.   We appreciate the comment made by Nepal with regards Nepalese nationals employed in the 
Sultanate of Oman. We warmly welcome and value their significant contribution to our ongoing social 
and economic development.  WT/TPR/M/418 • Oman  
 
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  5.28.   With regards to the issue raised  by Japan about visas. The Government of Oman should like 
to assure all Members that procedures for issuing visas have been streamlined.  
5.29.   As mentioned by H .E. Qais bin Mohammed  Al Yousef, Minister of Commerce, Industry and 
Investment Promotion in his addres s to the Secretariat on Wednesday, Oman introduced in 
September an "Investor Residency Program " which offers two extended residency options through 
real estate and commercial investment on a renewable five and ten -year basis. The IRP also offers 
residency opportunities to those wishing to retire in Oman.  
5.30.   On the matter of the GCC -South Korea FTA – this remains under active consideration by GCC 
members and we appreciate the attention the Government of South Korea has given to the FTA 
re-negotiation process.  
5.31.   I hope I have responded to most of the questions.  We also have  received follow -up questions 
from the United States.  These questions and any residual questions will be replied to, later, within 
the one-month  period.  
5.32.   To conclude, I should like to convey once again my sincere thanks to our Chairperson 
H.E. Ambassador  Dr Athaliah  Molokomme, Permanent Representative of Botswana to the WTO and 
to the discussant H .E. Dr Muhammed  Mujtaba  Piracha, Pakistan 's Permanent Representative to the 
WTO for their time, effort , and contribution in making Oman 's third  Trade Policy Review such a 
resounding success.  
5.33.   My special thanks go also to the WTO Secretariat for their excellent work regarding the 
preparation of Oman 's TPR reports and organization of this meeting. We ar e also grateful to 
interpreters for their hard work.  
DISCUSSANT  
5.34.   To have had the honour of being the discussant for their TPR, it provided me the opportunity 
to not only do a bit of desk research on the Sultanate but also reflect on the various comments and 
general drift of queries raised by many of the delegations that made statements on the first  day. I 
have also skimmed trough the record of the questions and the answers provided by Oman.  
5.35.   As a discussant my overall intake from the first day of  this trade policy exercise is that 
Members have generally supported the objectives set by Oman for its economic development. 
Members have commended Oman 's achievements and provided encouragements where Oman would 
need to fine tune some of its policies to achieve its development goals. Public policies are not carved 
in stone. They are organic and evolve with time and learning.  
5.36.   The various reforms the Sultanate has implemented as well as the future policies it has 
announced to lead the country onto its devel opment path, to mitigate the impacts of the pandemic, 
and to build a resilient economy, have attracted great interest from WTO Members.  
5.37.   I wish to thank Oman for providing in a timely manner, all the necessary clarifications in the 
areas of its trade polic ies for Members to better understand either the rationale or the way how 
Oman is implementing its trade policies in order to meet its developmental goals.  
5.38.   During the period under review, Oman has implemented a well -articulated strategy for its 
growth objec tives. It has placed SMEs at the center of its development, offered incentives to attract 
investments and introduced competition laws. The In -Country Value strategy which has targeted 
primarily the energy sector has been rolled out as national diversificat ion efforts. Massive investment 
programs have been put into place to improve the country 's transport network. The 
telecommunications infrastructure has also been improved. Furthermore, to ensure predictability, 
the Government has improved its legal framewo rk for financial services.  
5.39.   State ownership remains important and the Sultanate is committed to speed up the 
privatization reforms as it is fully convinced of the participation of the private sector to boost its 
economy. Partial privatization took place in telecommunications and electricity transmission during 
the period under review.  WT/TPR/M/418 • Oman  
 
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  5.40.   The reforms made by the Sultanate and its achievements in such a short amount of time are 
truly impressive. And I feel that Oman is on a learning curve on how to take forward i ts development. 
As the saying goes Rome was not built in one day and the highly ambitious objectives set by the 
Sultanate will not only need time but also strong commitment at every level.  
5.41.   Among WTO Members, some concerns surround the policy where the Gove rnment seeks to 
increase the participation of its nationals into the private labour market. Some of Oman 's trade 
policies applied as part of the GCC also made Members unsure of the objective of such policies.  
5.42.   Through this Trade Policy Review, Oman has had  a good learning opportunity to understand 
where it stands in the multilateral trading system so that it can make the necessary and relevant 
adjustments whenever it considers appropriate. An assessment of Members ' concerns will provide 
Oman with the necess ary tools to see the areas where some improvements maybe required while 
meeting its development targets.  
5.43.   Members don 't need reminding that trade and investment policies are amongst the many tools 
that our governments deploy for the achievement of their ov erarching social and economic objectives 
of public policy. The social and political context of the country under review is an important factor 
that helps us understand some of those policy options.  
5.44.   I sincerely wish to thank Members for their contributions  to this review exercise.  
5.45.   As this is only the third Trade Policy Review of Oman since it has joined the WTO in 2000, I 
hope that Oman will take full benefits from this exercise as a contribution to its overall strategy 
reforms when it is heading towards m ore ambitious development targets and at the same time facing 
the challenges of the pandemic.  
5.46.   In the end, I wish Oman success in all its initiatives, and I wholeheartedly congratulate 
H.E. Mr Qais Mohammed  Al Yousef , Minister of Commerce, Industry and Inve stment Promotion , and 
H.E. Dr Saleh  Said Masan, Undersecretary for Commerce and Industry of Oman and 
H.E. Idris Khanjiri  and the Omani Mission in Geneva for a successful culmination of their TPR, which 
was a good exchange of information and views.  
SRI LANKA  
5.47.   My delegation welcomes the delegation of Oman led by H.E.  Mr Qais Mohammed  Al Yousef, 
Minister of Commerce, Industry a nd Investment Promotion for the third review of the trade policies 
and practices of Oman.  
5.48.   We thank H .E. Mr. Muhammad  Mujtaba  Piracha, Ambassador of Pakistan, the discussant, for 
his report and insights and the WTO Secretariat and the Government of Oman for  their 
comprehensive reports made available to the delegations in advance of this meeting.  
5.49.   My delegation noted that in 2021, Oman launched its Vision  2040 enshrines the long -term 
goals of Oman.  As noted, the Vision  2040 is the guide and key reference for planning activities in 
the next two decades to achieve the developed country status by 2040.  
5.50.   We are happy to note that Oman believes that the WTO is the best available forum for 
liberalization and expansion of international trade. We noted that Oman grants  at least most -
favoured -nation (MFN) treatment to all of its trading partners. We appreciate it s active participation 
in the current round of multilateral trade negotiations in particular in services and fishery subsidies.  
5.51.   Since 2020, Oman has officially implemented 100% of its commitments under the Trade 
Facilitation Agreement. During the review period, Oman submitted numerous notifications to the 
WTO and has never been directly involved in any WTO dispute. We encourage Oman to maintain 
those remarkable a chievements in the future as well.  
5.52.   On bilateral economic relations, Sri  Lanka and Oman are signatories to bilateral agreements 
on Air service Agreement, Bilateral Development Advisory Agreement and double taxation avoidance WT/TPR/M/418 • Oman  
 
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  Agreement. However, my delegati on noted that current bilateral trade and other economic 
cooperation in particular Foreign Direct Investments between the two  nations are at a minimal level.  
5.53.   We believe that there are many areas to be discovered to strengthen the bilateral relations 
betwe en the two  countries and we look forward to exploring those opportunities for further 
collaborations in the future.  
5.54.   In concluding Madam Chair, my delegation appreciates the dynamic role played by 
Ambassado r H.E. Mr Idris Al Khanjari , Permanent Representative to the WTO and his dynamic and 
able team in Geneva for their proactive engagement in ongoing activities of the WTO.  
5.55.   We wish the delegation of Oman a successful deliberation and productive outcomes on its 
Trade Policy Review.  
EUROPEAN  UNION  
5.56.   On behalf of the EU, let me first thank Oman for the insightful overview regarding of the main 
trade and economic developments that occurred during the review period.  
5.57.   The EU appreciates the opportunity to receive in -depth information about mo dernisation and 
diversification strategy by Oman notwithstanding the challenges generated by the global pandemic. 
The EU stands ready to continue supporting these efforts.  
5.58.   However, and in spite of these efforts, the economy of Oman has been affected by the  
pandemic in the past two years with significant impact on government revenues.  
5.59.   The EU considers it important that Oman continues and steps up its engagement for the 
efficient functioning and modernization of the multilateral trading system.  
5.60.   The exchanges in the past two days also underlined the need for Oman to address certain 
conce rns by the WTO Members in a number of areas important to ensure predictable trading 
conditions with Oman.  
5.61.   The EU appreciates the responses provided by Oman to these questions and we do not have 
follow -up questions.  
5.62.   In conclusion, the EU would like to tha nk the delegation of Oman for seriously engaging in 
this important transparency exercise, helping to improve the framework of economic cooperation 
with the country and demonstrating its commitment to WTO. We are confident that our good 
cooperation will con tinue.  
MOROCCO 
5.63.   Morocco congratulates the Government of Oman for its commitment to the multilateral trading 
system and its third  Trade Policy Review, thereby contributing to compliance with WTO rules, in 
particular the principle of transparency. We also wel come the active engagement of Oman in 
negotiations on certain bilateral and regional trade agreements, taking into account the country's 
contribution to a free and open trading system.  
5.64.   First of all, my delegation would like to congratulate the Sultanate of  Oman for its 
management of the dual challenges it had to face in 2020, namely the decline in the price of oil and 
the COVID -19 crisis, by adopting the measures needed to progressively rebuild the national 
economy, which is expected to grow by 2.5% in 2021 . Oman established its strategic goals in its 
Vision  2040, which is aimed at acquiring developed country status by 2040 and at diversifying 
production and exports in order to be less dependent on oil and create employment opportunities 
for Omanis. This Vis ion will enable the country to build a sustainable and increasingly diversified 
economy by developing new strategic sectors and channelling energies towards industries and 
services with a long -term competitive advantage. Morocco congratulates the Sultanate  of Oman for 
this choice and strongly encourages the country to pursue this diversification policy, while wishing 
it every success in its implementation.  WT/TPR/M/418 • Oman  
 
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  5.65.   The Trade Policy Review report reveals the remarkable process made by Oman in recent years, 
particular ly at the legislative level with the adoption of a new investment law in 2019 and 2020, 
containing several investment incentives, and a competition law, which enables the proper 
functioning of the market and ensures that everyone enjoys the same access con ditions.  
5.66.   Morocco welcomes the decision of Oman to make free trade a preferred means of increasing 
competitiveness and productivity over the long -term. It was this approach that led to the free trade 
agreement establishing the Greater Arab Free Trade Area, which has broadened the horizons of 
economic operators in our two countries, especially as our respective economies have 
complementarities and potential that have not yet been fully exploited.  
5.67.   We also reiterate our commitment to further promoting the level  of cooperation with this 
brother country, in view of our excellent bilateral relations and the strategic partnership that links 
us via the Gulf Cooperation Council. All areas of shared interest, especially economic and commercial 
ones, should be strengthe ned to consolidate trade levels and improve investment opportunities. The 
Kingdom of Morocco wishes the Sultanate of Oman a successful Trade Policy Review.  
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  6  CONCLUDING REMARKS BY THE CHAIRPERSON  
6.1.  Oman's third  Trade Policy Review has provided Members  a good opportunity to examine its 
economic, trade, and investment developments since the previous Review. Members  also learnt 
about the unique challenges caused by the COVID -19 pandemic that has impacted trade and t he 
global economy.  
6.2.  The Chairperson thanked  the delegation from Muscat, headed by H.E.  Mr Qais bin Mohammed 
al Yousef, Minister of Commerce, Industry and Investment Promotion, for his remarks and 
participation from capital.  
6.3.  She further expressed her a ppreciation to the discussant, H.E.  Ambassador  Mujtaba  Piracha of 
Pakistan for his thoughtful comments and remarks. She thank ed the 26  delegations that took the 
floor during these two days and those that participated through the advance question and answer 
process.  
6.4.  Members commended Oman on its generally overall open trade and investment regime. They 
observed that Oman had generally low tariffs and few non -tariff barriers to trade. As member of the 
GCC Customs Union, Oman applies a common external tariff, and common legislation on customs 
procedures, valuation, and contingency measures.  
6.5.  Members recognized the double challenge arising from low oil prices and the COVID -19 
pandemic that Oman faced during the review period. Members were generally pleased with the p olicy 
measures taken by Oman to mitigate the impact of the pandemic, particularly on the most vulnerable 
in the society. Members were also pleased to know that the economy had begun to recover in 2021. 
In the context of the COVID -19 pandemic, many Members were interested in learning more about 
Oman's recently adopted practice of approving so -called "direct" imports from certain countries, 
versus imports that arrive in Oman with an intermediate stop, to speed up the clearance process 
and reduce costs.  
6.6.  Membe rs recalled that diversification away from hydrocarbons had remained a top priority for 
Oman and encouraged it to continue this policy in the future. Members wished to know more about 
Oman's efforts of diversification and digital transformation. In this co ntext, many Members 
welcomed the launch of "Vision  2040" and the long -term goals included in the 10th Five-Year Plan. 
They strongly believe that the twelve national priorities and their performance indicators would help 
Oman achieve a more diversified and sustainable economy in the long run, and could help Oman 
achieve developed country status by 2040. With regard to Oman's diversification plans, many 
Members underlined the need for a further reduction of state ownership though privatization.  
6.7.  Members commen ded Oman for its strong commitment to the multilateral trading system and 
its active WTO participation, including for its engagement in the negotiations on fisheries subsidies 
and its track record in submitting notifications. They congratulated Oman for ra tifying the Trade 
Facilitation Agreement, and for having officially implemented 100% of its commitments under the 
Agreement since 2020. At the same time, several Members encouraged Oman to join Joint 
Statement Initiatives, notably on e -commerce and domesti c services regulation, and to become 
party to the Government Procurement Agreement (GPA). Many Members also recognized Oman's 
participation in regional integration, such as the Gulf Cooperation Council and the Pan -Arab-Free 
Trade Area.  
6.8.  Foreign investment h ad featured prominently in many interventions and in the advance written 
questions. Members congratulated Oman for its improvements towards a stable investment 
environment. In particular, they applauded Oman for the adoption of the Commercial Companies 
Law and the new Foreign Capital Investment Law adopted in 2020, and specifically for the abolition 
of foreign ownership limits.  
6.9.  They noted that reforms related to foreign capital investment, privatization, public -private 
partnerships, and bankruptcy, had imp roved the business environment and led to higher inflows of 
foreign investment. However, remaining investment regulations on inspection and monitoring 
procedures, as well as the prohibition of land ownership by foreigners were seen as potential 
obstacles t o a higher inflow of FDI.  WT/TPR/M/418 • Oman  
 
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  6.10.   On sectoral policies, some Members wished to learn more about incentives for the agricultural 
sector, and how challenges such as declining soil quality as well as scarcity and salinization of 
irrigation water could be overcome. Wi th regard to the tourism sector, some Members mentioned 
that this sector could be key to the diversification program and a source of significant employment. 
However, heavy state involvement and foreign investment restrictions remained in place which 
inhibi t the inflow of foreign investment to this sector. Given Oman's geographic location, the 
potential of transport and logistics for economic diversification was also highlighted.  
6.11.   Other issues of interest for some Members included: IPR protection, the partici pation of 
women in the economy; the design of the excise tax on carbonated beverages; free zones and 
special economic zones; public procurement procedures; import licensing procedures; standards for 
imported halal products; applied rates exceeding bound ra tes on 26  tariff lines; and measures to 
create jobs for the younger generation.  
6.12.   These were the main areas of discussion at this review that has allowed us to gain a better 
understanding of Oman's trade, investment, and related policies. Oman received over 240 advance 
written questions and it was commended for having replied to most of them prior to this meeting.  
6.13.    Oman was requested to reply to any late submissions and follow -up questions at which time 
the third Trade Policy Review of Oman will successfully conclude.  
6.14.   The Chairperson concluded by congratulating Oman on the successful conclusion of its 
third Trade Policy Review and thank ed all the delegations for their cooperation and assistance.  
 
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