By: Kabeer Yousuf
MUSCAT: In the purview of the Free Trade Agreement (FTA) between the US and the Sultanate of Oman, American companies are seeking local partnerships in a cross spectrum of areas including setting up new businesses, mentoring, training and tourism, according to the US Ambassador to the Sultanate, Greta C. Holtz. Speaking to the Observer on the sidelines of the Oman American Business Council (OABC) networking reception at her residence, the ambassador said, “US companies are looking for better economic and social relations within the Sultanate, including ongoing corporate social responsibility (CSR) initiatives.
This US Embassy and OABC networking reception allows both sides to meet and talk about partnerships and CSR.” She explained that the areas of mutual interest include internships, summer jobs, mentoring, and building partnerships with budding Omani entrepreneurships for capacity building and other CSR initiatives in the Sultanate.
The networking event was attended by Omani entrepreneurs and OABC members. US-based companies registered with the OABC regularly provide internship opportunities and promote corporate social responsibility (CSR) in Oman. The 100 member strong OABC is dedicated to providing expertise and sustainable employment for Omani citizens in a variety of private sector fields. Omanis who have studied or attended training programs in the US often return to Oman and explore capacity building initiatives and promote trade ties between Oman and the US.
With more than 350 million customers, the US market offers ample opportunities for Omani suppliers to explore and make use of the benefits. At present, there are 112 companies with 100 per cent US share in the Sultanate.
“The FTA is a very good tool to connect the two nations and we need to fully explain the benefits for small, medium, and large Omani businesses to explore the market potential in the US.
SOURCE: OMAN DAILY OBSERVER