Oman, Saudi agree measures to ease trade

MUSCAT: Oman and Saudi Arabia agreed to mutually recognise the certificate of origin to speed the flow of goods and deepen industrial integration, officials said after a bilateral meeting in Muscat chaired by Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry and Saudi Arabia’s Acting Under-Secretary for Empowerment, Eng Badr bin Adel Foudah.
The talks, held at the Ministry of Commerce, Industry and Investment Promotion, endorsed a second package of integration measures: listing Omani and Saudi products within approved industrial capabilities; equal treatment for companies in government tenders and procurement; streamlined product registration with regulators; a fast-track for conformity approvals; incentives for joint industrial investments; and closer value-chain integration, including through free-trade agreements and targeted African markets.
Several memorandums of understanding were signed between companies from both countries to develop strategic partnerships, exchange expertise and open new markets for national products.
“These initiatives aim to achieve Omani-Saudi industrial integration by attracting quality industrial investments, simplifying regulatory procedures and harmonising conformity and quality standards — consolidating both countries as regional industrial and trade hubs, in line with Oman Vision 2040 and Saudi Vision 2030”, Dr Masan said.
Omani industrial exports rose 39% to RO 733 million by end-July 2025 from RO 526 million a year earlier, according to the National Centre for Statistics and Information. Saudi exports to Oman increased 10% to RO 762 million. Total bilateral trade grew 20% to RO 1.757 billion, underscoring stronger demand for Omani products in the Saudi market.