Oman’s Trade Surplus with ASEAN Reaches $3.4bn

Oman's Trade Surplus with ASEAN Reaches $3.4bn -

Muscat (TDI): Oman is participating in the 59th ASEAN Foreign Ministers’ Meeting in Manila, Philippines, as it seeks to strengthen economic and strategic relations with Southeast Asian countries and expand cooperation in high-growth sectors.

Held under the Philippine chairmanship with the theme “Exploring the Future Together,” the meeting provides Oman an opportunity to deepen partnerships in logistics, maritime transport, energy, green hydrogen, food security, tourism, digital transformation, emerging technologies and advanced manufacturing.

Oman’s participation also coincides with the 50th anniversary of the Treaty of Amity and Cooperation in Southeast Asia, which promotes peaceful dialogue and regional cooperation. The Sultanate joined the treaty in 2022, reaffirming its commitment to diplomacy, mutual respect, peaceful coexistence and adherence to international law.

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Economic ties between Oman and ASEAN have continued to expand in recent years. Merchandise trade between the two sides reached around $15 billion by the end of October 2024, while Oman recorded a trade surplus of approximately $3.4 billion, highlighting Southeast Asia’s growing importance as one of the Sultanate’s key economic partners.

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Omani officials expect the ministerial meeting to help attract new investment, boost bilateral trade and create fresh opportunities for cooperation with one of the world’s fastest-growing regional blocs.

News Desk
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