Friday 15 / November / 2024
Muscat: The trade between the Sultanate of Oman and the Kingdom of Saudi Arabia registered a 123 percent rise by the end of 2022 to reach OMR2.7 billion compared to the end of 2021.
Bandar bin Ibrahim Alkhorayef , Minister of Industry and Mineral Resources in the Kingdom of Saudi Arabia, said that this remarkable growth in trade reaffirms the joint interest for integration between the two countries.
He said that there are opportunities in the fields of logistics and mining in both the countries, which can provide raw materials for basic products in both the countries.
He said that the two countries aspire for development of the industrial sector through adopting the technologies of the 4th industrial revolution to make available high quality products.
On the integrated economic zone (under incorporation) in the Governorate of Al Dhahirah , he said that such economic zones would save the costs and accelerate exchange of trade and motivate investors in both the countries.
The Minister praised the strong relation between the Sultanate of Oman and the Kingdom of Saudi Arabia in various fields.
He described the relationship as “a source of pride for the two countries and is considered a model for joint work” . He also stressed his country’s keenness for boosting cooperation in the various fields with the Sultanate, mainly in economic field.-----ONA
