Muscat: The Oman Chamber of Commerce and Industry (OCCI) has signed a memorandum of understanding (MoU) with London Chamber of Commerce and Industry.
The memorandum was signed to boost investment and trade opportunities between two countries.
The MoU was signed by Qais Bin Mohammed Al Yousif, Chairman of the Board of Directors of OCCI and Peter Bishop, the head of London Chamber of Commerce and Industry.
The agreement seeks to strengthen cooperation and trade promotion relations between the two sides, encourage business and build partnerships.
In order to achieve this, the parties promote direct contact between businessmen from both sides in different sectors, by organizing delegations' visits and participating in exhibitions.
It also enables both two side to exchange information, trade data and economic reports that contribute to this.
Through the signing of these agreements, OCCI hopes to promote trade and economic exchanges between the two countries especially as the Sultanate recently signed a comprehensive cooperation and friendship agreement with the UK.
The UK is the largest foreign investor in the Sultanate and with the issuance of four royal decrees to boost foreign investment, which means that there is a need to increase trade exchange and to let the business community knows about the commercial opportunities in the Sultanate.
The Chamber delegation visited the British Arab Chamber of Commerce, where the delegation held bilateral meetings with their counterparts
The delegation also visited the Directors of the Institute to learn about the services it provides, business and investors through the provision of courses and programs for professional development.
Furthermore, the delegation visited Greater Manchester Chamber of Commerce, where the delegation met with a number of companies and business owners who are interested in trade and business development with the Sultanate. On the sidelines of the visit, a cooperation agreement was signed between the OHI Grou and MEN Energy Solutions Company.