The win for Omani market came in the wake of an inquiry carried out by the Canadian International Trade Tribunal into the impact of dumping and subsidising of PET resin originating in or exported from China, India, Pakistan and Oman on Canadian market, which resulted in the discovering of ‘negligible’.
Octal’s CEO, Nicholas Barakat, mentioned, “Oman has a window of opportunity to accelerate economic growth and stimulate job creation and investment opportunities by continuing to foster a progressive international trade policy,” mentioned. “The ongoing implementation of Oman’s diversification agenda, boosting of exports and investment for the future by nurturing innovation are key elements for Oman to achieve its economic development aspirations.”
Barakat added, “The win for Omani PET resin in the Canadian market is a real testament to Omani manufacturing, its capabilities and most importantly, its promise for the country’s growing exports and international trade, which is increasingly considered the modern engine of prosperity.”
The size of the economy in Oman has been expanding steadily and industry circumstances are steady.
Oman and Canada have a expanding trade and investment connection. Canada’s export credit agency, Export Development Canada classified Oman as a important industry for Canadian companies and investment.
Octal’s reputation as a international leader in PET manufacturing has been driven by its powerful dedication to international requirements at each stage of production. The organization has not too long ago been granted the Authorised Economic Operator status (AEO). This globally recognised certification is a tool utilized by the World Custom Organisation’s (WCO) in order to determine trusted financial operators.
It is also supported by the World Trade Organisation’s (WTO) Trade Facilitation Agreement, in order to establish strategic partnerships to make certain safety inside the company neighborhood and facilitate the international provide chain and international trade.
The AEO status assists Octal elevate manufacturing prowess, boost import and export portfolio and boost strategic worth of trade management operations in more than 140 markets. The organization received the certificate due to a powerful track record of customs compliance and safety requirements.
Information Source: Muscat Daily