The container traffic at Oman’s major sea ports increased by 6 per cent annually going up from 3 million units equivalent to 20 cubic foot in 2007
Container traffic on the rise
The container traffic at Oman’s major sea ports increased by 6 per cent annually going up from 3 million units equivalent to 20 cubic foot in 2007 to 4 million units in 2011, a report from the Kuwait Financial Centre (KFC, Markaz) showed.
The Sultanate’s strategic location on the Gulf and at the centre of the commercial route linking the East and the West guarantees easy access to the markets of the Middle East, Asia, Africa and Europe, the KFC said in its report.
The report also spoke about the many steps that were taken by the government of Oman to reduce reliance on oil and to diversify its sources of income. These measures saw the Sultanate’s oil exports falling to 71 per cent in 2011 from 81 per cent in 2004.
The government is striving hard to make the private sector the main source of economic activities which is why the economic policy-makers in Oman are focusing on providing world-class infrastructure including construction of new ports that are linked to free trade zones.
