Karachi: In a significant move towards bolstering economic ties, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Oman Chamber of Commerce and Industry (OCCI) have resolved to enhance collaboration and foster joint investments. This commitment was underscored during a recent visit by an FPCCI delegation to Oman, which marked a pivotal step in strengthening bilateral relations.
The delegation, spearheaded by Senior Vice President Saqib Fayyaz Magoon, engaged in fruitful discussions with Hamood Al-Saadi, Deputy Chairman of OCCI. Noteworthy participants included Vice President Muhammad Aman Paracha and Chairman of the FPCCI Pakistan-Oman Business Council, Nadeem Mehmood Magoon, among other prominent figures.
Throughout the visit, the delegation partook in various events and dialogues with influential personalities. At Pakistan House in Muscat, they were joined by Bilal Hasan, Deputy Ambassador of Pakistan to Oman, and Ishrat Bhatti, Commercial Counselor. Entrepreneurs from the Pakistani business community in Oman, such as Mian Muhammad Riaz Mumtaz and Syed Fayyaz Ali Shah, also played an integral role in these discussions.
The delegation was briefed on Oman's strengths in sectors like IT, pharmaceuticals, and food processing. Aman Paracha presented insights on Pakistan’s economic advancements and potential for partnerships with Omani enterprises, highlighting the opportunities for mutual growth.
During media interactions, Aman Paracha noted the participation of high-ranking officials and business leaders, creating a conducive environment for new investments. The discussions underlined key areas for potential collaboration, including food security, ICT, healthcare, and textiles, among others.
Paracha emphasized the mission’s aim to build enduring cooperative bridges and broaden economic and trade integration, while easing visa processes. He articulated a strong desire to enhance economic ties, drawing on the historical connections between Pakistan and Oman.
Saqib Fayyaz Magoon highlighted the strategic importance of Oman’s location and investment climate, urging both nations' business communities to seize shared incentives and engage in joint ventures for competitive advantage on the global stage.
A significant outcome of the visit was the announcement of strengthened maritime links, including a direct ferry service from Gwadar, enhancing connectivity and trade.
The forum also featured B2B meetings among business leaders, fostering partnerships and exploring joint investment opportunities, laying the groundwork for enhanced economic cooperation.