FTA AWARENESS CONFERENCE HIGHLIGHTS OMAN'S BFIF

UNCLAS MUSCAT 000016 SIPDIS SIPDIS STATE FOR NEA/ARP, EB/CBA (DWINSTEAD) STATE PASS USTR FOR JBUNTIN COMMERCE FOR ITA COBERG E.O. 12958: N/A TAGS: PREL ECON ETRD BEXP MU SUBJECT: FTA AWARENESS CONFERENCE HIGHLIGHTS OMAN'S BFIF PROGRAM REF: A. 06 MUSCAT 1203 ¶B. WINSTEAD-GRIMM EMAIL OF 9/25/06 ¶1. On December 6, 2006, the Embassy, in coordination with the Ministry of Commerce and Industry, Omani Center for Investment Promotion and Export Development (OCIPED),and the Oman Chamber of Commerce and Industry (OCCI),sponsored a successful "2006 Oman-U.S. Free Trade Agreement (FTA) Awareness Conference." The one-day event, which drew approximately 300 attendees from the public and private sector, provided Oman's business community with the opportunity to learn more about the expected benefits of the FTA in promoting economic growth, creating employment, benefiting consumers, and fostering transparency. ¶2. Commerce and Industry Minister Maqbool bin Ali Sultan, OCCI Chairman Salem al-Ghattami, the Ambassador, and Assistant USTR for Europe and the Middle East Shaun Donnelly offered their perspectives on how the FTA could spur greater trade and investment through new opportunities made possible by revised regulations under the FTA. Representatives from GE, Pfizer, Parsons, Lucent, Microsoft, and Booz Allen Hamilton, among others, also discussed how the FTA could encourage increased sales and investment opportunities by reducing tariffs, promoting competition, securing intellectual property, and ensuring a predictable, legal framework for trade and investment. ¶3. The event, which was well-received by conference participants, garnered significant media attention. The Omani government intends to build upon the conference through additional FTA promotional efforts, including both domestic and U.S. FTA promotional roadshows. ¶4. The Embassy appreciated Business Facilitation Incentive Fund (BFIF) assistance in staging this conference. The Embassy deposited $6,000 of BFIF monies into an escrow account held by OCIPED prior to September 30, 2006. These funds were used by the planning committee, of which the Embassy was a member, to defray conference-related expenses. Per ref A, the Embassy also used $1,469.20 in BFIF assistance during FY 2006 toward defraying the cost of sending its Economic/Commercial officer to a June 2006 FSI Commercial Tradecraft Training program, bringing Embassy Muscat's total BFIF expenditure for FY 2006 to $7,469.20. ¶5. The Embassy looks forward to continuing BFIF assistance in supporting its commercial service efforts. GRAPPO