Basque companies are committed to selling their products in the Emirates and Oman

The range of sectors with business opportunities is wide

Seven Basque companies will participate in a trade mission to the Emirates and Oman, organized by the Bilbao Chamber, with the collaboration of those of Álava and Gipuzkoa and with the support of the Economic Development Department of the Basque Government.

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The objective is to learn about possible business opportunities, contact clients, as well as increase and enhance sales in these two countries. The sectors represented are: naval industry, electrical equipment manufacturing, construction, machinery, technology, innovation and food industry.

 

Emirates, with a population of 9,5 million inhabitants, is one of the richest countries in the world, with a high per capita income. The country's economy is growing more and more, in recent years the GDP has increased by 4%.

 

Infrastructure, renewable energy or telecommunications, are presented as the best future business options for Basque companies. Also everything related to the environment, biotechnology, health sciences, aeronautics, food, textiles or water treatment.

 

Euskadi-Emirates trade balance

 

In 2017 the Basque exports They reached 114 million euros, 13% less compared to 2016 with sales of 131 million euros, mainly aircraft, paper and aluminum. Imports, on the contrary, have increased by an amount of 24 million euros in 2017, specifically paper, cardboard and clothing.

 

For its part, Oman, has 4,1 million inhabitants. Its economy registers strong growth of 3%, although it is extremely dependent on oil, which represents 46% of the gross domestic product.

 

The areas of interest for Basque companies are the agri-food sector, environment, engineering, construction and infrastructure.

 

Euskadi-Oman trade balance

 

exports They reached 25 million euros in 2017, 12% more than in 2016 with sales of 22 million euros, especially chemical components, rubber and their manufactures. Imports focused more on machinery and mechanical devices and consumer goods.