MUSCAT – The Bilateral trade between India and Oman is to flourish Post the execution of the Comprehensive Economic Partnership agreement (CEPA) between India and the Sultanate. said His Excellency Qais Al Yousuf, Minister of Commerce, Industry and Investment promotion. Al Yousuf was speaking at a meeting of The Board of Directors of Indo Gulf & Middle East Chamber of Commerce (INMECC) held at the Ministry. The priority of the country is to focus on promoting the Industrial Sectors engaged in Manufacturing, Transport and Logistic, Tourism, Energy and mining and food security, he added.
His Excellency assured his full support for INMECC’s future endeavours and further mandated that the activities of the Oman Chapter of INMECC have to be carried out under the umbrella of Oman chamber only and to this extend a registration will be initiated.
The meeting also discussed the possibilities of holding joint events with OCCI on;
- Startup Investments and hosting related events in Oman This initiative aims to foster innovation and entrepreneurship, creating new opportunities for both countries.
- Invest Oman and Oman Business Forum: Discussions cantered on the role INMECC can play in supporting Invest Oman and the Oman Business Forum. The goal is to build and enhance these initiatives, contributing to the economic landscape of Oman.
- Annual Mega Event: The idea of organising an annual mega event, with participation from Invest Oman, the Oman Chamber of Commerce and Industry, and INMECC was proposed. This event aims to positively impact the overall business landscape of Oman.
- Hospitality Infrastructure Utilisation: The meeting also discussed cooperation for better Hospitality Infrastructure Utilisation. India being a closest neighbour with almost 20 percent of the world’s population, suggestions were made on how to better utilise Oman’s hospitality infrastructure and increase its visibility in India to attract more tourists.
- Investments in healthcare Sector. Another major area discussed was to attract more investors to the healthcare sector in Oman. It was suggested that in order to bring in more investors to this sector, INMECC requested the Minister to address obligatory insurance requirements and to streamline and regulate the payment cycle to service providers. This step is crucial to attract more investors to the healthcare sector in Oman
The meeting was attended by Dr Suresh Madhusudhanan, the Secretary General of the Board of Directors of INMECC, Vice Chairman Dr James Mathew UAE, Dr Siddeek Ahmed Saudi Arabia, and Directors Rajesh Sagar from Kuwait and Davis Kallukaran from Oman along with the Oman Chapter President Mohiuddin Mohammed Ali.
Indo Gulf Middleast chamber of Commerce, a not-for-profit corporate entity registered in India has signed an agreement with Oman Chamber of Commerce and Industry following a joint communique issued by the Ministers of Both India and Oman last year. Since then Both OCCI and INMECC has jointly conducted several programs. The seminars held on the Opportunities and challenges in the Fisheries sector and the tourism sectors were noteworthy.
The Indo Gulf and Middle East Chamber of Commerce (INMECC) is an initiative of leading professionals and businessmen in India and Middle East countries. This Chamber is dedicated to protecting and promoting trade and industry through a strong network of government agencies, Indian and Middle East embassies, consulates, and business and professional leaders in both regions. Since its inception in March 2022, INMECC has strived to act as a catalyst for community growth and prosperity. INMECC is committed to leveraging opportunities that benefit its members and promote sustainable development across our regions. Currently, INMECC has a presence in UAE, Oman, Saudi Arabia, Kuwait, and Indian states such as Kerala, Maharashtra, New Delhi, and Tamil Nadu, with plans for further expansion into other Middle Eastern nations.
The delegation for this meeting was led by INMECC Oman Chapter President Mohiudeen Mohammed Ali, along with Oman Director Davis Kallukaran, Vice Chairmen Dr James Mathew and Dr Siddeek Ahmed, Secretary General Dr Sureshkumar Madhusudhanan, and Director – Kuwait Rajesh Sagar.
Photo Caption:
INMECC delegation felicitating the H.E. Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion. From left to right: Dr Sureshkumar Madhusudhanan, Mohiudeen Mohammed Ali, Davis Kallukaran, Dr James Mathew, Rajesh Sagar, Dr Siddeek Ahmed
Photo: V K Shafeer
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