Oman, Philippines explore stronger trade, investment ties
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MAKATI CITY — Oman and the Philippines are seeking to expand trade, investment and labor cooperation as senior government officials and business leaders from both countries met to discuss new economic opportunities.
The discussions took place Sunday, 26 July, during the Third Oman–Philippines Forum: Strategic Majlis, which brought together the foreign ministers of both countries, diplomats and private-sector representatives to discuss cooperation in trade, maritime connectivity, logistics, tourism, energy, technology and human capital development.
Omani Foreign Minister Sayyid Badr Hamad Al Busaidi said both countries' complementary economies create opportunities to strengthen cooperation in trade, investment, logistics, tourism, energy and technology.
"We welcome the role of businesses, investors, entrepreneurs, and innovators from both countries turning these opportunities into lasting ventures. By creating stronger connections between our private sectors, we can expand economic cooperation and lead open new horizons for mutual benefit."
He also cited the Filipino community in Oman as an important contributor to bilateral relations.
"The partnership between Oman and the Philippines has great potential, and through our collective efforts, we can ensure that it continues to deliver meaningful benefits for our peoples."
Oman Ambassador Nasser bin Said bin Abdullah Al Manwari said recent agreements in health, agriculture, fisheries and trade, along with a visa exemption agreement for holders of diplomatic, official and special passports, have strengthened bilateral cooperation.
He also pointed to the opening of the Oman Visa and Medical Examination Centre in Manila, saying the facility is expected to streamline work visa processing for Filipinos and support legal labor mobility.
Bilateral trade between Oman and the Philippines reached about $250 million last year, reflecting growing commercial ties, he said.
Foreign Affairs Secretary Theresa Lazaro said Oman and the Philippines are well positioned to serve as gateways linking the Gulf Cooperation Council and Southeast Asia.
"As maritime nations that share historical connection to sea-based trade and navigation, today, we must actively translate the shared geographic identity into a strategic economic advantage. Oman serves as a stable strategic gateway to the Gulf Cooperation Council and the broader Middle Eastern market," she said.
Lazaro said the Philippines' location provides access to the more than 680 million consumers in the ASEAN market and called for stronger maritime, air and logistics links to facilitate trade between the two regions.
She also said negotiations on an Investment Protection and Promotion Agreement and an Avoidance of Double Taxation Agreement are expected to strengthen investor confidence and support cross-border investments.
The forum will conclude with business-to-business meetings focused on renewable energy, logistics, food security, tourism, digital transformation and education.
