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Economic Policies In Oman Essay

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National policies are those policies, which the government adopted at national level in detection of national objective. Every country has their different policies. These policies are the guideline for present and future decisions. National policies are usually not for limited time they have long-term objective. Economic policy decisions are set by the State in a given economic space, which, in order to achieve specific economic and social goals through a number of means and tools. Economic policies aimed to economic growth, job creation, price stability and promotion of exports. This essay will discuss the Omani national policies set by the government, which has pursued to stimulate the national economy through trade and investment, and will …show more content…

Oman national policies are increasing the standard of living of people, reduction of inequality among region and different groups of income. Government encourage effective private sector and provide suitable environment to realize the economic diversification. Government also concerned with its past achievement and encourages developing it more. Oman …show more content…

Oman is working under the rules of World Trade Organization for making and implementing its trade policies. Oman joined WTO in November 2000 as a member before it Oman followed the trade policies of multilateral trading system. In Oman, there are no regional or sub-regional governments and trade policies are applying at national level. The main purpose of Oman trade policy is to maximize the growth rate of Oman economy and provide more employment opportunity to its citizens and expend its trade by removing or plummeting barriers to import and export, it will increase market access of Omanis product and service. Oman realizes the importance of economic growth, industrial development, quality of facilitating trade, Human resource, skill upgrading and safety. Oman also understand the importance of trade and treat fairly with all his stakeholders that is why Oman rewarded one of the most favored nation (MFN) treatment to all its trading partners. Oman is actively participating in multilateral trade negotiation and has shown interest in NAMA and services. As Oman is a developing country, so it believes that special attention and interest is very necessary to increase trade and investment of a country [Trade

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