Wednesday 13 / November / 2024
Muscat: His Excellency Dr. Thani Ahmed Al Zeyoudi, Minister of State for Foreign Trade, in the United Arab Emirates, praised the intensive efforts made by the government of the Sultanate of Oman under the leadership of His Majesty Sultan Haitham bin Tarik in attracting investments and growing foreign trade.
"The directives of the leadership of the two brotherly countries are keen to enhance joint economic and commercial work," the Minister said
Al Zeyoudi explained that his visit, accompanied by his delegation to the Sultanate of Oman, discussed ways to expand commercial partnerships while ensuring the presence of the private sector from both countries at the core of joint work, which will have a major role in implementing these partnerships during the coming period in the strategic sectors.
His Excellency added that the two sides discussed opportunities for cooperation in areas and sectors of common interest, and to communicate directly with businessmen to enter into trade and investment partnerships in the two brotherly countries, and to exchange experiences between the two parties. He also reviewed the comprehensive economic partnership agreements signed by the United Arab Emirates in the past period and the possibility of expanding this partnership by working with the Sultanate of Oman.
His Excellency touched on the smooth flow of trade between the two brotherly countries, especially through the land ports that connect them, which enhances the chances of increasing the volume of trade exchange and promoting investments between the two sides.
The Minister pointed out that the volume of trade exchange between the two countries during the past nine months exceeded more than OMR 3.7 billion, equivalent to 36 billion UAE dirhams.
"The number of companies whose owners are of Omani nationality operating in the UAE has reached approximately 6,280 companies by the end of 2022. Direct investment statistics between the two sides show that it is around 15 billion dirhams, equivalent to OMR 1.6 billion, and more than 85 percent of it is going from the UAE to Oman," Al Zeyoudi said.
His Excellency the Minister of State for Foreign Trade affirmed that there is direct coordination between those concerned in the Omani-Emirati Joint Economic Committee and the Omani-Emirati Business Forum and keenness to intensify efforts during the next phase to enhance the presence of Omani-Emirati investments in both countries and take advantage of the opportunities available in vital sectors such as food, medicine, logistics, various industries and future sectors in digital technology.
