Muscat – Oman’s exports to China saw a significant jump of 26.7% to a total of US$36.24bn in 2022. The overall trade volume between the two nations also saw an increase – of 25.8% – amounting to US$40.45bn.
Chinese investments in Oman in 2022 reached US$9.5bn, with new direct investments surging to US$21.74mn, marking an impressive growth of 116.75%.
These figures were disclosed by H E Li Lingbing, Ambassador of China to Oman, at an Omani-Chinese Forum in Salalah titled ‘Historical Relations and Promising Prospects’.
The event, a collaboration between Oman-China Friendship Association, the Chinese Embassy in Oman and Al Roya newspaper, celebrated significant milestones – tenth anniversary of the Belt and Road initiative and the 45th anniversary of diplomatic ties between the two countries.
Sheikh Ghosn Hilal al Alawi, Chairman of State Audit Institution, presided over the ceremony. Hon Hatim Hamad al Ta’ee, Member of State Council, highlighted Dhofar’s historical significance as a bridge between Omani and Chinese cultures. He recounted how Dhofar was a beacon guiding Chinese vessels, highlighting the importance of Omani frankincense to Chinese maritime expeditions.
H E Lingbing conveyed her pleasure at revisiting Salalah, her previous trip having been to inaugurate the monument of Chinese navigator Zheng He.
Dr Khalid al Saeedi, Chairman of Oman-China Friendship Association, praised the forum for showcasing the enduring relationship between the two countries. He acknowledged the shared commitment of both nations to increase trade and economic ties.