Panalpina will launch operations in Oman in the third quarter of 2019, having previously been represented by an agent.
The Oman office will be based in Muscat and cover core activities such as airfreight, ocean freight and customs clearance.
The registration of Panalpina Oman has been completed with minority shareholder Daoud Group, a family-owned Omani business conglomerate.
Oil and gas dominate Omani exports, though dates are also important, while major imports include motor vehicles, technical equipment, computer hardware and software, consumer products, textiles and foodstuffs.
The government is aiming to diversify the economy by focusing on agriculture, fishing, tourism, mining, public utilities and manufacturing.
Together with large infrastructure projects and its transhipment hub for Qatar, Oman is becoming the business hotspot in the Middle East.
Charles Francis, country manager for Qatar, Kuwait and Oman says: “Oman has become a pivotal geographical location for cargo flows to and from Qatar. Unlike some of the Gulf Cooperation Council (GCC) countries, Oman has not introduced economic sanctions and its trade with Qatar has increased by more than three times since the embargo started two years ago.”