President Pranab Mukherjee Tuesday said the bilateral trade between India and Oman has increased but still remains well below its potential and that both sides need to bring it to a higher level.
India’s relations with Oman are built on the strong foundation of historical and civilisational linkages.
India appreciates and values the strategic partnership reflected in the remarkable growth in the two countries’ overall relationship in recent times, Mukherjee said in an official release.
Commerce and Industry Minister of the Sultanate of Oman, Ali Bin Masoud Al Sunaidy, had called on him Monday.
The bilateral trade between India and Oman has increased from $4.6 billion in 2012-13 to $5.77 billion in 2013-14.
However, trade remains much below its potential and both sides need to bring it to a higher level commensurate with the depth of the bilateral relationship, the release quoted the President as saying.
Mukherjee said India is happy that the India-Oman joint commission meeting is taking place after a gap of four years.
He said he was sure that the deliberations of the 7th joint commission meeting would be productive and would help in further strengthening economic and trade relations between India and Oman.
Referring to the “Make in India” campaign, the president invited public and private sector companies of Oman to come and invest in Indian infrastructure and other sectors which offer good returns.