Oman Sees Limited Impact from New US Tariffs, Eyes Strategic Trade Opportunities
Muscat, The Gulf Observer: Dr. Nasser Al-Maawali, Undersecretary of the Ministry of Economy, addressed the United States’ recent imposition of new tariffs on Omani imports, assuring that the overall impact on Oman’s economy is expected to be limited and not a major concern in the medium to long term.
In a statement issued following the US announcement, Dr. Al-Maawali clarified that the tariffs do not apply to key sectors such as Omani oil, gas, and refined products, which remain unaffected.
While acknowledging potential ripple effects stemming from global trade disruptions and a possible slowdown in global economic growth, he emphasized Oman’s ability to seize new opportunities arising from these developments. In particular, Dr. Al-Maawali pointed out that higher US tariffs on imports from other countries could open doors for Oman to deepen trade ties with those affected and attract foreign investments.
He also noted that Oman could strengthen its role as a strategic transit hub, providing market access for countries now facing higher barriers to the US. Enhancing supply chain cooperation with tariff-impacted nations could further reinforce Oman’s position in global trade networks.
Highlighting the country’s economic adaptability, Dr. Al-Maawali stressed that Oman remains focused on transforming challenges into opportunities, guided by its geographical advantage and proactive economic planning. These efforts are in line with the goals of Oman’s broader economic diversification and development vision.
