Raising the profile of Omani exports worldwide and improving bilateral trade opportunities in between Oman and Canada, OCTAL, one of the Sultanate's primary merchants, signed up with hands with the Omani Ministry of Business and Industry to make sure exports of Omani polyethylene terephthalate resin(PET resin) are nonstop to Canada with no additional duties enforced.

The win for Omani industry can be found in the wake of a questions conducted by the Canadian International Trade Tribunal right into the effect of unloading and funding of PET resin originating in or exported from China, India, Pakistan, and Oman on Canadian industry, which caused the finding of negligible.

" Oman has a home window of possibility to accelerate economic growth and boost task production and investment possibilities by remaining to promote a progressive international trade policy," said OCTAL's CEO, Nicholas Barakat. "The ongoing implementation of Oman's diversification agenda, boosting of exports and investment for the future by nurturing innovation, are crucial elements for Oman to achieve its economic growth aspirations."

Barakat, added "The win for Omani PET material in the Canadian market is a real testimony to Omani production, its abilities and most importantly, its assurance for the country's expanding exports and global trade, which is significantly taken into consideration the modern engine of success."

The size of the economy in Oman has been expanding steadily, and market conditions are secure. Oman and Canada have a growing trade and investment relationship. Canada's export credit agency, Export Development Canada categorized Oman as a key market for Canadian companies and investment.

OCTAL's credibility as a global leader in PET manufacturing has been driven by its strong dedication to global requirements at every phase of production. The company has recently been provided the Authorized Economic Operator status (AEO). This globally-recognized qualification is a tool made use of by the World Personalized Organization's (WCO) in order to recognize trusted economic operators. It is also supported by the World Trade Company's (WTO) Trade Facilitation Contract, in order to develop calculated collaborations to make certain security within business community and help with the international supply chain and global trade. The AEO standing makes it possible for OCTAL to elevate its manufacturing prowess,

boost its import and export portfolio, and enhance the calculated value of its trade administration operations in over 140 markets worldwide. The company obtained the certification as a result of its strong record of custom-mades compliance and security requirements.