OCCI hosts workshop on US tariffs, impact on Omani exports

Muscat: Oman Chamber of Commerce and Industry (OCCI) on Wednesday organised a virtual workshop titled "US Tariffs and their Impact on Omani Exports."

The workshop studied the potential impacts of the US tariffs on Omani exporting companies and the national economy at large.

The workshop focused on proposed mechanisms for dealing with the US decision on tariffs and the measures that Omani establishments and companies can take to mitigate any related negative impacts. It also considered strategies for maintaining the competitiveness of Omani products in US and global markets.

HH Sayyid Dr. Adham Turki Al Said, Chairman of OCCI Economic Committee, said that imposing a global customs tariff of a certain percentage on goods exported to the United States poses a new challenge to the Omani economy, notably with regard to commercial exchange.

For his part, Saud Ahmed Al Nahari, member of the Board of Directors of the OCCI, said, “The workshop is part of the Chamber's efforts to keep pace with developments in global trade policies. It also explores ways to help Omani companies prepare for any potential impacts, given the fact that the new US tariffs may pose challenges to Omani exporters.”

For her part, Emmee Haun, Managing Partner of Oman Trade Office in the United States, said, “continuous benefiting from the free trade agreement (FTA) between the Sultanate of Oman and the United States gives Omani exports a margin of competitiveness and constitutes an important factor in mitigating the effects of the new customs tariffs.”

Michael Ford, CEO of Tradebridge Consulting, stressed the importance of Omani enterprises’ monitoring developments in customs tariffs, verifying customs tariff codes and the country of origin, to ensure maximum gains from the exemptions and incentives available under the FTA.