Seminar explores cooperation between Oman and Egypt

Oman Monday 06/November/2023 14:29 PM
Seminar explores cooperation between Oman and Egypt

Cairo: The Egyptian Businessmen Association held here today a seminar themed “Cooperation Opportunities between Oman and Egypt in the field of Small and Medium Projects”.

The event aimed at highlighting incentives offered by the Sultanate of Oman to small and medium enterprises and investors.

Abdullah Nasser Al Rahbi, Ambassador of Oman to Egypt and its Permanent Representative to the Arab League underscored the historical relations between the Omani and Egyptian peoples. He added that His Majesty Sultan Haitham bin Tarik’s visit to Egypt on 21 May 2023 and his meeting with the Egyptian President Abdel Fattah El Sisi marked a positive step forward in boosting mutual relations in all political, economic, business and cultural spheres.

Al Rahbi pointed out that trade exchange between Oman and Egypt reached USD 1.1 billion in 2022 compared to USD 650 million in 2021. Moreover, Egyptian exports to Oman reached USD 200 million in 2022 compared to USD 163 million in 2021, constituting a rise by 24%. Egyptian imports from the Sultanate of Oman stood at USD 870 million in 2022.

The ambassador also said that Egyptian investments in the Omani market reached USD 680 million in 2022 (744 companies) with a total investment capital exceeding USD 1.8 billion in the fields of infrastructure, road projects and real estate investments.

Meanwhile, Al Rahbi said, Omani investments in the Egyptian market reached USD 77.5 million, distributed over 92 companies operating in the fields of industry, tourism, agriculture, construction and other fields.