March 19, 2024

Oman-Jordan Trade Set to Surge in 2024: OQ’s Polymer Exports Spearhead Expansion

Press release
Polymers Trading

OQ’s Luban Polymer Contributions Propel 2023’s $91 Million Export Revenue, Comprising 30% of Total

The polymer trade between Oman and Jordan is set for substantial growth in 2024, driven by strategic collaborations that have masterfully tackled recent logistics challenges. Central to this optimistic outlook is the partnership between Oman's OQ and Jordan's NABASCO, which has been pivotal in navigating logistics complexities with innovative and timely solutions.

Synergistic Partnerships Enhancing Trade Dynamics

A significant factor contributing to this expected growth is the innovative development in road transport between Sohar in Oman and Amman in Jordan. This initiative has drastically reduced lead time from 55 to 7 days, transforming the logistical landscape for polymer transport. The cooperation between Omani and Jordanian partners was instrumental in developing these solutions, ensuring that all processes, from documentation to importation and adherence to safety standards, were streamlined for efficiency and compliance.
HE Fahad Abdul Rahman Alojaili, the Omani Ambassador to Jordan, praised the collaborative spirit that has been essential in overcoming logistical hurdles. "The synergy between Omani and Jordanian entities, especially between OQ and Nabasco, has led to significant advancements in our trade capabilities, showcasing our collective ability to find effective solutions in challenging times," he stated.
Oman-Jordan Trade Set to Surge in 2024: OQ’s Polymer Exports Spearhead Expansion
The partnership's success is further underscored by Nabasco's strategic investment of up to $7 million in Oman, encouraged by the country's inviting investment climate and the promising opportunities within the Ladayn Polymer Park. While the park is part of a broader narrative, it signifies Oman's commitment to industrial advancement and its strategic vision to attract foreign investment, aligning with the nation's 2040 vision for economic diversification.

Key Figures Driving the Sector Forward

The momentum behind this trade growth is also driven by industry leaders from OQ Marketing such as Buthaina Al Shezawi, Vice President of Global Sales and Abdulrahman Tamtami, Vice President of Global Marketing, and Ameed El Saadi, Managing Director at NABASCO. Their dedicated efforts have not only boosted demand for Omani polymers in Jordan but also contributed to the optimisation of the supply chain, showcasing the potential of collaborative innovation in addressing complex challenges.

Looking Ahead: A Future of Growth and Cooperation

The Managing Director of OQ Marketing, Sadiq Al Lawati, commended the achievements of the partnership, “The strategic alliance between OQ and NABASCO, coupled with the targeted investments and logistical innovations, is poised to catalyse significant growth in the polymer trade between Oman and Jordan. These collaborative efforts, particularly in logistical problem-solving, are set to strengthen economic ties and pave the way for future trade expansions and cooperative ventures.”

As this partnership evolves, it promises to unlock new opportunities for regional trade and cooperation, reinforcing the economic bond between Oman and Jordan. The strategic initiatives undertaken, in line with Oman's 2040 vision and the proactive approach to overcoming supply chain challenges, herald a future brimming with possibilities for economic prosperity and industrial innovation.

This anticipated growth in the Oman-Jordan polymer trade exemplifies how strategic partnerships, conducive investment environments, and innovative logistical solutions can lead to significant economic progress. It underscores the potential for continued growth and collaboration, marking a progressive chapter in the economic relations between Oman and Jordan.