Oman's exports surged by 14.4 percent in the total value of commodity exports over a year to 5130.6 million rials in 2004 from 4486.6 million rials in 2003. Releasing the figures, the Ministry of National Economy has attributed the rise to 16.5 percent increase in oil and gas exports which amounted to 4172.1 million rials by the end of 2004 against 3581.7 million rials a year before. Non-oil commodity exports rose by 38.2 percent to 420.3 million rials from 304.1 million rials during the period under review, while re-export trade fell by 10.4 percent to 582.2 million rials from 600.8 million rials. The UAE topped the list of Oman's non-oil exports, importing from Oman goods worth 126.7 million rials. The UAE also topped the countries importing re-export stuff from Oman with 230.2 million rials. According to another report released by the state news agency ONA, the first round of negotiations meant to establish a free-trade zone between the GCC states and China will commence on April 23. Dr Abdul Malik bin Abdullah Al-Hinai, the economic affairs undersecretary at the Ministry of National Economy, who will head the Omani team, said the first round will focus "on liberalization of commodity and service trade and joint investment.''
