(MENAFN- Muscat Daily) Establishment of the Oman Business Council for Dubai and Northern Emirates is expected to boost economic cooperation and enhance trade and commerce between the business communities of Dubai and Oman.
With the establishment of this new council the total number of business councils operating under the umbrella of the Dubai Chamber of Commerce and Industry has reached 46 as the Oman Business Council in Dubai and Northern Emirates has 18 members from diverse economic activities including investments trading in petroleum and petrochemical products engineering construction real estate developing retail F&B industry general trading IT and banking services a press release said on Tuesday.
Atiq Juma Nasib senior vice president for commercial services sector at the Dubai Chamber welcomed the formation of the new council which he said is a positive step in enhancing bilateral relations between the two countries especially as this is the first council from the GCC region which enjoys special trading ties with Dubai.
'This new council will help business communities of the UAE and Oman to establish stronger trade ties while contributing to the economic development of Dubai as presently there are 362 Omani ownership and partnership companies operating in the emirate while the country occupies 17th rank on the list of the Dubai's trading partners' Nasib said.
He said the value of Dubai's non-oil trade with Oman rose from AED19.1bn in 2013 to AED21.7bn in 2014 and the establishment of the council will help take the bilateral relations between the UAE to a higher level in the long run.
Nabil Daud chairman of the Oman Business Council lauded Dubai Chamber's efforts in helping the establishment of the council. 'This is a continuation of the chamber's effective role in supporting the private sector and representatives of business councils while creating a fertile ground for businessmen and investors in Dubai and the northern emirates' he said.
Daud said that the Oman Business Council's objective is to enhance the role of Omani companies in developing trade and economy in the region while providing support and consultation to individual businesses and companies as well as facilitating smooth exchange of experiences amongst important commercial sectors.
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