Muscat: A webinar titled "Enhancing Trade Relations between the Sultanate of Oman and the Kingdom of Bahrain" was convened today to explore ways to strengthen trade ties among small and medium enterprises (SMEs) from both nations. The event was a collaborative effort organized by Youth Projects "Sharakah" and the United Nations Industrial Development Organization (UNIDO), in partnership with the Ministry of Commerce, Industry and Investment Promotion in Oman and the Ministry of Industry and Commerce in Bahrain.
According to Oman News Agency, the objective of the webinar was to facilitate SME growth and market access by examining trade and investment opportunities available in Oman and Bahrain. The event aimed to introduce the regulations and procedures governing trade exchanges, thereby fostering sustainable partnerships and increasing trade volumes between the two countries.
The webinar underscored the growing economic ties between Oman and Bahrain, highlighting the importance of SME participation in international trade. It provided a platform to present investment and trade opportunities, share expertise and success stories, and address challenges that companies face when entering new markets. The event also aimed to establish direct communication channels between business owners and private sector support institutions, enhancing trade and investment cooperation opportunities for SMEs in both nations.
Targeting entrepreneurs and at least 70 SMEs from Oman and Bahrain, the program also attracted exporters, importers, and entities supporting the SME sector, along with relevant investment and trade institutions. The Ministry of Commerce, Industry and Investment Promotion, through "Oman Exports," contributed with a working paper on export opportunities for Omani SMEs and mechanisms for market entry, highlighting support services to enhance the competitiveness of Omani exports.
The webinar is anticipated to raise awareness of available trade and investment opportunities between Oman and Bahrain. It seeks to build networks of professional and commercial relations among participating companies, improve understanding of regulatory, customs, and quality standards, and explore new opportunities for trade and investment partnerships. Additionally, it aims to lay the groundwork for future cooperation and joint programs between institutions supporting the private sector in both countries.