Oman’s Entry to the World Trade Organisation, Trade Liberalisation and Trade Achievements

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

This paper provides an exploratory account of Oman’s trade policy and performance following membership to the World Trade Organisation (WTO) in 2000, revealing significant progress in shaping an outward-oriented competitive economy. Oman’s trade contributes to some 94 % of its gross domestic product (GDP) and trade surplus has been recorded consistently since 2000. Oil and gas contribute to just over 67 % of Oman’s export income while motor vehicles principally designed for transport represent the largest import expenditure. Much of Oman’s trade is concentrated in the Asian subcontinent, amounting to some 78 % of total imports and 58 % of total exports. China, Japan and India are Oman’s top three export markets for oil. For non-oil products, the United Arab Emirates is its major export market as well as the main import market. While Oman’s trade regime is liberal, it is more restrictive than that of an average high-income non-Organization for Economic Co-operation and Development country. Oman’s continuous reform of trade law and practices in several areas with greater conformity with the provisions of the WTO is necessary for maintaining the momentum in trade performance.

Original languageEnglish
Pages (from-to)123-134
Number of pages12
JournalAtlantic Economic Journal
Volume43
Issue number1
DOIs
Publication statusPublished - 2015

Fingerprint

World Trade Organization
Trade liberalization
Import
Export markets
Income
Oil
Motor vehicles
Momentum
Expenditure
United Arab Emirates
Economic cooperation
Co-development
Conformity
Japan
Trade surplus
Asia
Gross domestic product
India
Gas
China

Keywords

  • Oman
  • Tariffs
  • Trade achievements
  • Trade policy

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

Oman’s Entry to the World Trade Organisation, Trade Liberalisation and Trade Achievements. / Gani, Azmat.

In: Atlantic Economic Journal, Vol. 43, No. 1, 2015, p. 123-134.

Research output: Contribution to journalArticle

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