Pakistan and Oman are two brother countries and are tied into the knots of deep rooted, time tested historical relations. These relations are all weather and are up to gross root level. Both countries are on same page having similar notion on many regional and international issues. Both countries are striving for peace, stability, cooperation in the region and are staunch supporter of sharing resources, technologies, ideas to eliminate poverty, illiteracy, extremism and terrorism. Oman is the nearest Arab country for Pakistan. Pakistan attaches immense importance to its fraternal relations with Oman. Pakistan and Oman started ferry service in January, 2017 which opened a new chapter of friendship between two brother countries.
Pakistan needs Omani investment in various sectors including energy, tourism, textile and religious education. Pakistan also needs Omani support in signing Pakistan GCC Free Trade Agreement. Oman is hosting a sizeable Pakistani diaspora. Pakistan can provide men-power in various fields including engineering, information technology, medicine, accountancy, education and technical workers.
Sultanate of Oman is an Arab country on the southern coast of the Arabian Peninsula in western Asia. Holding strategically important position at the mouth of Persian Gulf the country shares land borders with United Arab Emirates, marine borders with Iran and Pakistan.
Sayyid Qaboos bin Said is the Sultan of Oman. He is visionary, dynamic and sincere leader and under his leadership many steps has been taken to modernize Oman to cope the emerging challenges to pace with modern world. Slavery was outlawed in 1981. Oman became founder member of The Six Nations Gulf Cooperative Council (GCC). Oman practices free economy. Tourism is the fastest growing industry. It has free trade agreement with United State of America. Therefore Pakistani investors can invest in Oman which could be helpful to enhance Pakistani exports and re-exports.
Oman has proved reserved of petroleum are about 5.5 billion barrels. Oman is the gateway for Pakistan to enter into Gulf region. CPEC is the game changer in the region and brother country can take the advantages of enormous opportunities available here.
ECONOMY
GDP (PPP) : $ 187.9 billion
GDP ( official exchange rate) : $71.93 billion
Exports : $31.9 billion
Export commodities : Petroleum, re-export, fish, metals
Export Partners : China 43%, UAE 11%,
Imports : $ 22.71 billion
Import commodities : machinery, transport equipment,
Food
Import partners : UAE 35.5%, US 27.8 % Brazil 4%
Trade between Oman and Pakistan
year Export
Million $ Import million $ Balance of trade $ million Total export of Pakistan US$ billion Share in total export Total import of Pakistan Share in Total import
2012 185.9 640.4 -454.5 24.62 0.8 43.813 1.52
2013 258.1 1073.8 -815.7 25.121 1.8 43.775 2.52
2014 221.1 1217.1 -995.9 24.722 0.9 47.545 2.6
2015 220.1 436.1 -226.0 22.689 0.6 43.99 1.0
2016 87.3 331.4 -244.1 20.435 0.40 47.175 0.7