Tuesday 22 / April / 2025
Muscat: Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, affirmed that the visit of His Majesty Sultan Haitham bin Tarik to the Russian Federation underscores the importance of the bilateral relations between the two friendly nations.
These relations are built on foundations of mutual respect and understanding, explained the minister.
In a statement to the Oman News Agency (ONA), he emphasised that relations between the two countries have seen remarkable development over the years, reflected in the growth of cooperation and the diversification of its fields. This embodies the shared desire to strengthen partnership ties and expand their scope to include more diverse and innovative horizons, he added.
He noted that Omani-Russian relations have undergone a qualitative leap in recent years, culminating in Oman’s participation as a guest of honor at the 2023 St. Petersburg International Economic Forum—a historic milestone that provided a vital platform to showcase Oman’s economic and cultural strengths. The event facilitated high-level meetings with Russian institutions and companies, further enhancing cooperation across various sectors.
Al Yousef added that any discussion of Omani-Russian relations must acknowledge the cultural dimension, which serves as a crucial bridge between the two peoples. He said: “This aspect is rooted in knowledge and artistic exchange, as well as mutual participation in cultural events and international exhibitions. Such cooperation reflects the depth of both nations' civilizational heritage, fosters human understanding, and strengthens dialogue between institutions and societies”.
He pointed out that the Russian Federation is a key strategic partner for Oman, and the Ministry of Commerce, Industry and Investment Promotion is committed to building on this shared legacy.
He stressed that this historic visit marks a pivotal milestone in bilateral cooperation, opening new avenues to elevate economic relations to more integrated levels. This, said the minister, will be achieved by activating partnerships in priority sectors such as industry, logistics, tourism, food security, energy, modern technologies, and manufacturing. He reiterated Oman’s commitment to deepening cooperation in innovation and technical knowledge exchange to enhance competitiveness and achieve sustainable growth.
The visit, he explained, crowns continuous efforts at both governmental and private-sector levels, with several agreements and memoranda of understanding signed. These include an Economic and Technical Cooperation Protocol, the establishment of a Joint Economic Committee, and MoUs on climate change, low-carbon development, transport, and transit.
These agreements strengthen the institutional framework for cooperation and provide real platforms for the private sector to capitalize on investment opportunities in both countries.
In light of global economic challenges, he reaffirmed Oman’s commitment to fostering an attractive and secure investment environment that supports entrepreneurship, boosts trade exchange, and achieves balanced economic growth.
Concluding his remarks, Qais Mohammed Al Yousef expressed confidence that this auspicious visit will herald a new phase of close cooperation, reinforcing Oman’s position as a promising investment destination and a reliable international partner under the wise leadership of His Majesty the Sultan.
