Pretoria - President Jacob Zuma concluded the first day of his visit to the Sultanate of Oman with a plea to business to translate the close political ties and friendship between the two countries into mutual economic benefit.
Zuma spent the better part of his day in talks with his counterpart Sultan Qaboos bin Said at the Al Alam Palace discussing and reviewing bilateral relations, as well as developments in the world such as North Africa and the Middle East. He also addressed a business forum.
He told the forum that Pretoria was committed to creating the correct and enabling environment for Oman traders to do business.
He said Pretoria saw "great potential" in the Omani economy, which has over the past 41 years developed at a rapid pace, thanks to prudent and visionary policies that have prioritised infrastructure projects such as airports, railways and harbour developments.
"We, as South Africa, are serious when we say we wish to deepen and broaden our economic ties with Oman through stronger trade and investments between the two countries. We believe that there are several lucrative opportunities where our two economies can complement each other."
Zuma gave the multibillion dollar Sohar Free-zone development project in the north of Muscat as an example of the many business opportunities that existed in Oman. He said South African businesses had an opportunity to get involved, or for the country's expertise to make a contribution.
"We urge you, therefore, as the two business communities, to take advantage of the opportunities presented today by both countries," said Zuma, hopeful that his visit would lead to further high-level exchanges between the two countries.
"Let us work together to grow our two economies, use our vast natural resources and create the much needed job opportunities and a better life for all our peoples."
On the recent developments in North Africa and the Middle East, the two leaders agreed that regular consultations should be held in order to explore ways in which the respective countries could contribute to peace and security.
Since diplomatic relations between South Africa and the Oman were established after South Africa's first democratic elections in 1994, relations have expanded in various fields, aided by the exchange of high-level visits, the negotiation of bilateral agreements and greater people-to-people contact.
However, despite the opportunities that exist, the potential for closer collaboration has not yet been fully exploited.
Trade volumes remain low and the South African government wants to see this changing for the better. South Africa wants to see an expansion and growth of investments, defence cooperation and tourism linkages amongst others.
The two leaders signed a Supplementary Protocol amending the Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income.
