ISLAMABAD   -  Pakistan and Oman on Tuesday expressed optimism about the future of bilateral trade and investment, underscoring the need for continued dialogue and cooperation to fully realize the economic potential of their relationship. Federal Minister for Commerce Jam Kamal Khan highlighted the significant po­tential for enhancing bilateral trade between Pakistan and Oman during a meeting with a high-level Omani delegation led by Ms Ibtisam Al Farouji.

The minister warmly wel­comed the delegation and un­derscored the historical ties and economic opportunities between the two nations. Jam Kamal Khan stated that the Ministry of Commerce is in the process of opening a new trade mission in Oman, which will ultimately enhance trade relations between the two countries. The minister invited Omani investment in both bi­lateral and trilateral modes and assured full cooperation and facilitation in this regard.

He informed the Omani del­egation about Pakistan’s strong sectors, such as IT, sports, re­newables, and fruits, and high­lighted incentives for invest­ment, including cheap labor, port handling, and logistics. The Ministry of Commerce has launched a new policy, “Middle East Reconnect,” to strengthen trade relations with Middle Eastern countries, including Oman. Ms Ibtisam Al Farouji, head of the Omani delegation, agreed that there is substan­tial potential for trade en­hancement between the two countries, particularly in steel, renewable energy, and the pharmaceutical industry.

She invited Pakistani in­vestments in Oman’s manu­facturing sector, offering in­centives such as cheap gas and raw materials. She also showed interest in acquiring raw materials from Pakistan, due to close proximity and low logistics costs, especially in iron ore, fruits, and veg­etables. She also informed the minister that she had a couple of meetings with the Chamber of Commerce and would hold sectoral business meetings tomorrow in Islamabad. Both sides expressed optimism about the future of bilateral trade and investment, under­scoring the need for contin­ued dialogue and cooperation to fully realize the economic potential of their relationship.

Meanwhile, in a significant move to bolster the local auto­motive industry, Federal Min­ister for Commerce Jam Ka­mal Khan assured members of the Pakistan Automotive Manufacturers Association (PAMA) of his support in ad­dressing their pressing con­cerns. During a meeting on Tuesday, Jam emphasized the government’s commitment to enhancing the local manu­facturing sector, which he believes is crucial for increas­ing the country’s exports and local industrialization. PAMA members identified serious concerns and issues faced by them. Minister Jam Kamal expressed his intention to personally visit truck manu­facturers. “If our trucks meet international standards, it is imperative that we support our local industry,” he stated, highlighting the potential for domestic manufacturers to contribute significantly to Pakistan’s export growth.

“The special incentives for imports will destroy local man­ufacturers,” Waheed warned, urging Minister Khan to inter­vene and support policies that build confidence in the local industry. He stressed the im­portance of a long-term policy framework that would favor local production and ensure the sustainability of domestic manufacturers. This meeting comes at a time when the Paki­stani automotive sector is wit­nessing significant growth.