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Oman, Japan discuss means of
enhancing economic ties
Macki stresses need to speed up signing of double taxation pact
TOKYO — Ahmed bin Abdulnabi
Macki, Minister of National Economy and Deputy Chairman of the Financial
Affairs and Energy Resources Council, met here yesterday with the Japanese
Minister of Economy and Industry. They discussed means of developing
bilateral relations. Macki said that Japan is a strategic partner of the
Sultanate and figures as the second importer of Omani oil.
Macki pointed out that commercial exchange between the two countries
witnessed great growth recently. The private sectors have a chance for real
investments to be explored and utilised to the best interest of both sides.
Macki said that the two countries should speed up the signing of agreements
on double taxation and mutual protection of investments, thereby providing
legal protection for investments and commercial exchange.
Macki also stressed the keenness of the Sultanate and other GCC states to
expedite negotiations towards the signing of a free trade agreement, which
will considerably boost investment and trade opportunities. The Sultanate
and other GCC states were not severely impacted by the global financial
crisis, thanks to good financial and economic policies pursued by the member
states, said Macki, adding that the revenues from oil prices will be
utilised to reinforce the member states' monetary reserves to help overcome
the crisis which might continue for two years.
The two sides discussed the situation of oil prices on the international
markets, noting that the current oil price is not in the interest of
exporters and consumers and that a $70 to $80 should be the price for the
time being. Macki also held a meeting with the Deputy Foreign Minister of
Japan and another meeting with the Chairman of Nomura Company of Japan. The
meetings dealt with means of reinforcing bilateral relations. — ONA
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