Economic engagement with Oman to increase

Bangladesh's economic engagement with Oman will increase in the coming days.

Two-way trade between Bangladesh and Oman stood at approximately $240 million in 2023, with expat Bangladeshis sending 923.75 million US dollars home last year.

Law, Justice and Parliamentary Affairs and Expatriates' Welfare and Overseas Employment Adviser Dr Asif Nazrul said this while speaking as the chief guest at a reception marking Monday's 54th National Day of the Sultanate of Oman at a city hotel.

Dr Asif Nazrul, in his speech, said, " In recent years, our bilateral cooperation has expanded beyond traditional sectors such as manpower and trade. The two-way trade stood at approximately $240 million in 2023, with Bangladesh exporting around $55 million worth of goods to Oman, while Omani exports to Bangladesh accounted for about $185 million. Both nations identified strategic collaboration opportunities for joint ventures in emerging sectors, including agriculture, climate change, renewable energy, and small-to-medium enterprise (SME) entrepreneurship. We have also prioritised investment in information technology and food security, recognising the potential for mutual growth."

Recalling the sacrifices of the brave students and citizens who sacrificed their valuable lives in the last July-August mass-uprising, Dr Asif Nazrul said their unwavering commitment to justice and democracy serves as a beacon, guiding the country's journey toward achieving an inclusive, just, and equitable society.

Asif Nazrul said that Bangladesh and Oman have enjoyed excellent bilateral cooperation since the inception of diplomatic ties in 1974.

Built on principles of fraternity, common values, and mutual cooperation, our relations continue to grow and strengthen each year. With shared values and mutual respect, our nations work in close coordination in various international forums, including the UN, OIC, NAM, etc., to pursue common goals and address global challenges.

The major element in our bilateral cooperation is the employment of a large Bangladeshi workforce in the sultanate of Oman, which currently numbers around 800,000.

"Bangladeshi workers are known for their hard work, loyalty, and dedication, and they have been positively contributing to the development of our economies. We thank Oman for providing our community employment opportunities and look forward to further collaboration. This symbiotic relationship benefits our two brotherly countries, fostering goodwill and enhancing mutual understanding, the adviser said.

Dr Asif Nazrul congratulated Sultan Haitham Bin Tarik and the brotherly people of Oman on this joyous occasion.

 "As we recognise the potential for increased trade, we look forward to hosting the next Foreign Office Consultations to explore avenues of cooperation to diversify and expand our commercial and economic collaboration,"  the adviser said.

"Our shared commitment to sustainable development, as reflected in Oman's Vision 2040 and Bangladesh's development Vision, underscores the alignment in our aspirations for the future. These visions provide us with a roadmap to enhance our economic partnerships further, with particular emphasis on renewable energy, education, and cultural exchange," said Dr Asif Nazrul

He also said, "Bangladesh and Oman share common values on humanitarian support, particularly in the context of regional crises. Both countries have consistently voiced their solidarity with Palestine and condemned the humanitarian crisis in Gaza. Such shared stances on regional and global issues have brought the two nations closer, fostering collaboration in international forums like the United Nations and the Organization of Islamic Cooperation (OIC).

Ambassador of the Sultanate of Oman to Bangladesh Abdul Ghaffar Al Balushi in his speech said that the Sultanate of Oman reiterates its call for an immediate ceasefire in the Gaza Strip, the lifting of the siege imposed on the innocent population, and the creation of safe passages for the delivery of humanitarian aid.

Abdul Ghaffar Al Balushi said that "Palestine is in the forefront of our diplomatic agenda. the Sultanate of Oman policy is unwavering in its support for the Palestinian people in their struggle to obtain their rights in accordance with international law. We call upon Israel to withdraw from the occupied Palestinian territories so an independent Palestinian state with East Jerusalem as its capital can be established as stipulated by Security Council resolutions."

Abdul Ghaffar Al Balushi said the Sultanate of Oman also calls for a ceasefire in Lebanon and a return to the path of a just and comprehensive peace in the region through dialogue and peaceful means.

"For centuries, Oman has been a crossroads for diverse peoples united in shared dreams. Harmony has guided our nation, enabling our achievements under His Majesty Sultan Haitham bin Tariq and the late Sultan Qaboos bin Said, along with the dedication of Oman's people," he said.

Abdul Ghaffar Al Balushi said the Sultanate of Oman's foreign policy is clear, consistent and transparent. It is guided by the principles of non-interference in the internal affairs of other states and the pursuit of mediation and dialogue in resolving disputes and conflicts. We seek to promote the values of peace and harmony among nations.

"On such basis and principles, my country has consistently called upon the international community to intensify efforts to stop the military escalation in the Middle East and has urged all parties to comply with international law, the United Nations Charter, and to respect the principles of peace and justice for all, said Oman Ambassador.

"At the same time, we affirm that the Sultanate of Oman will continue to play an active role in building a world of peace and stability through promoting the values of dialogue, understanding, international cooperation, and joint action with all countries to achieve a bright future for all,' said Abdul Ghaffar Al Balushi

The Oman diplomat also said that today, the world faces increasing challenges in maintaining its security, economic growth, and environmental sustainability. This comes as a result of the increase in conflicts and wars that have directly degraded people's lives, security and stability. We in the Sultanate of Oman believe that solutions to these challenges cannot be achieved through military power, sanctions, marginalization and double standards but rather through understanding and dialogue in a spirit of justice and cooperation to achieve collective security and global stability.

He also said, "Oman and Bangladesh enjoy firm political, economic, and cultural common bonds. We are two nations that strive to live in peace with their neighbours. We highly value harmony and tolerance internally, and we both seek to generate economic growth to ensure the well-being of our people. In such a spirit and context, both sides have worked hard to find synergies between our countries to further the common bonds we enjoy.

As a country that hosts a community of 700 thousand Bangladeshi workers that remit approximately one billion dollars a year and a country that has signed two long-term agreements to supply Bangladesh with LNG, the Oman diplomat said Oman likes to see peace, stability and economic prosperity in Bangladesh.

‏Domestically, Oman's Vision 2040 is our roadmap to sustainable development, focusing on economic growth, social progress, and the empowerment of all citizens. We are committed to fiscal stability, social welfare, and creating opportunities for youth and women to shape our future.

‏Oman is also a leader in clean energy, with ambitious projects to achieve net-zero carbon emissions by 2050. We are investing heavily in green hydrogen, aiming for significant production by 2030 and 2050, positioning Oman as a critical player in the global green transition.