FCCISL strengthens economic cooperation with Oman

Thursday, 17 July 2025 00:16 - - {{hitsCtrl.values.hits}}

B2B partnerships and CACCI 2025 participation on the horizon

The Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) has taken a significant step towards strengthening economic cooperation with the Sultanate of Oman, following a productive meeting with Ambassador of Oman in Colombo Ahmed Ali Said Al Rashdi.

The high-level discussions focused on expanding bilateral trade, investment, and tourism opportunities. The Ambassador emphasised Oman’s strategic value as a regional trade hub, citing existing Free Trade Agreements with the United States, European Union, and the United Kingdom, as well as ongoing negotiations for an FTA with India. He also highlighted Oman’s investor-friendly environment, with customs duties at 5%, VAT at 15%, and corporate taxation capped at 15%.

“Oman is open and eager to engage with Sri Lankan businesses,” stated Al Rashdi. “Our economic policies are designed to attract partnerships, and we see Sri Lanka as a natural partner for trade, tourism, and investment, particularly as we continue to expand our infrastructure, including seven newly developed international airports.”

FCCISL President Keerthi Gunawardane warmly welcomed the prospect of deeper collaboration, noting the strong potential in tourism, logistics, ICT, agro-processing, and manufacturing. He expressed FCCISL’s readiness to host a Business-to-Business (B2B) meeting in Colombo for interested Omani business leaders and to organise a reciprocal B2B visit to Oman, fostering direct linkages between the private sectors of both countries.

To institutionalise these efforts, FCCISL also proposed signing a Memorandum of Understanding (MoU) with the Federation of Chambers of Commerce and Industry in Oman, aiming to establish a formal channel for ongoing cooperation and joint initiatives.

In a key highlight, Gunawardane extended an official invitation to the Ambassador and a delegation of Omani business leaders to attend the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) Annual Conference and CACCI Expo 2025, to be hosted in Sri Lanka later this year. The event will gather over 27 national business delegations from across Asia and the Asia-Pacific region.

FCCISL also offered to allocate exhibition space at the CACCI Expo 2025 for Omani companies interested in promoting their offerings—especially in sectors such as tourism, investment, food processing, logistics, and trade services.

“This partnership has great strategic value,” said Gunawardane. “Oman’s location and trade agreements make it a powerful gateway to markets in the Gulf, Africa, and beyond. We are committed to building a mutually beneficial bridge between our two business communities.”

The FCCISL looks forward to taking these initiatives forward and working closely with the Embassy of Oman to foster long-term, high-impact collaboration.

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