By Rebecca Olson, CEO of Oman American Business Council (AmCham Oman)

Fifteen years ago, the governments of Oman and the United States made a forward-thinking investment in their economic partnership with the US-Oman Free Trade Agreement (FTA). This remarkable achievement positioned Oman as one of just 14 FTAs globally, granting Omani exporters and US businesses unparalleled, duty-free access to each other’s markets. Over the years, the FTA has significantly boosted bilateral trade, created jobs, and strengthened economic ties between the two nations.

Both governments deserve recognition for laying a strong foundation. The US has been a steadfast partner, providing tools, expertise, and an open market. Oman’s leadership has embraced the agreement, creating an environment conducive to trade and investment. Both governments’ efforts can be compared to building a smooth, well-paved road: the foundation is in place, and the path to success is clear.

But here’s the key: a road, no matter how well-built, will not generate success on its own. It is the private sector’s responsibility to provide the cars – investment, effort, and strategy – and drive on that road to reach the opportunities ahead. Businesses must be willing to invest in market entry, build relationships, and adapt their products or services to meet the demands of a competitive global market.

The potential benefits, particularly for Omani exporters, are not just significant – they’re transformative. With duty-free access to the largest market in the world, Oman’s industries – plastics, aluminum, fisheries, agriculture, and so many more – have unparalleled opportunities to grow and succeed. However, long-term success requires investment from both the public and private sectors.

When it comes to investment, OABC took a big step this year as a nonprofit business council seeking to support companies in Oman. After years of hearing comments about how people aren’t utilising the US-Oman FTA enough, we decided to do something practical about it. OABC hired a full-time Trade and Development Director to guide companies through the export process and provide research, matchmaking, and compliance support. This investment helps address barriers, but businesses must be ready to take the next steps themselves, committing time and resources to access the US or Omani markets. Just look to other FTA countries to see how this pays off in the end.

Governments also play an essential role in ensuring that the “road” remains clear and well-maintained. For the US, an investment in additional resources – such as hiring a Commercial Officer who reports to the US Department of Commerce at the US Embassy – can enhance support for businesses seeking to utilise the agreement. For Oman, investment in export-readiness programs, SME development, and coordinated initiatives will help pave the way for even more companies to benefit from the FTA. Importantly, a US presence is needed for Oman stateside, to help the country market itself and support its businesses to compete in such a vast market.

It’s not just financial investment into resources that is needed, but also the investment of time as it’s directed towards stronger collaboration. A shining example of what is possible can be seen in Jordan’s Tijarah Coalition, a 34-entity coalition of private and public sector stakeholders focused on collaborating to utilise the US-Jordan FTA. By coordinating efforts between public and private sectors, Jordan has maximised its FTA with the US, growing exports exponentially. Their model, with a focused FTA Unit residing within the local American Chamber of Commerce Affiliate (AmCham Jordan), demonstrates the power of cooperation. Oman can adopt a similar approach, tailored to its strengths, to achieve even greater success.

This month, in honor of the 15th anniversary of the FTA, we are excited to launch a 24-page US-Oman FTA Guide, created to empower businesses with trade data, opportunities, and practical tips for using the FTA. This guide is a tool to help businesses take the wheel and drive on the road that has been built for them.

The US-Oman FTA has no expiration date, and the foundation built by both governments remains strong. Now is the time for greater synergy, strategic investments, and commitment from all sides. It’s too big an opportunity for all parties to not collaborate. Together, engaging as both the public and private sector, we can turn this agreement into a catalyst for transformational growth, benefiting Oman and the United States for decades to come.