MUSCAT: In affirmation of the depth of historical relations between the Sultanate and the Kingdom of Saudi Arabia and, based on the keenness of the two countries’ leaderships to enhance joint ties, His Majesty Sultan Haitham bin Tarik will begin an official visit to Saudi Arabia from Sunday, in response to an invitation from King Salman bin Abdulaziz al Saud.
During the visit, discussions will cover all aspects of cooperation between the two countries with a view to upgrading bilateral relations, and realising the aspirations of the two peoples and achieving the objectives set in all fields. The discussions also aim at reaching results that serve common interests and establishing a more prosperous future for the two countries.
HH Sayyid Faisal bin Turki al Said, Sultanate’s Ambassador to Saudi Arabia, affirmed that the visit of His Majesty Sultan Haitham bin Tarik to his brother King Salman bin Abdulaziz al Saud of Saudi Arabia, has great importance and deep significance of the strong and special relations binding the two brotherly countries and their links amidst the conditions surrounding the region.
In a statement to Oman News Agency (ONA), HH Sayyid Faisal said that the meeting between the two leaderships will be a quantum leap in fostering several aspects concerning the two brotherly countries and their peoples. He confirmed that the land port linking Oman and Saudi Arabia will facilitate direct land transport either for trade or individual movement.
HH Sayyid Faisal said that bilateral visits are continuing and the recent period has witnessed visits and meetings between officials from the two brotherly countries, which come within the framework of strengthening cooperation and partnership in various fields, noting that the current economic momentum in Saudi Arabia is large, extended and, and is in line with the programmes of the Saudi Vision 2030. It is simultaneous and similar to the Oman Vision 2040 programmes in many aspects, taking into account the special circumstances and the peculiarity of each country.
The Sultanate and the Kingdom of Saudi Arabia are engaged in strong and mutual economic relations.
The national visions represented by Oman’s Vision 2040 and the Saudi Vision 2030 target to formulate economic trends and objectives that will achieve transformation and promote economic diversification as well as raise the volumes of trade exchange with other countries through executive plans and programmes of the two economic visions.
A report issued by the Saudi Ministry of Economy indicated that Saudi investments in the Sultanate cover several economic and production sectors. The largest chunk of the Saudi investments are concentrated in trade, construction and services sectors which make up the greatest Saudi investments. This is in addition to other sectors such as transport, health, industry and oil and gas.
The report indicated that the number of Saudi companies investing in the Sultanate until the end of 2020 were 1,079, with a registered investment volume exceeding RO 188 million. The annual growth rate of Saudi imports to the Sultanate in five years (2016-2020) reached 6.49 per cent, while the annual growth rate of Omani exports to Saudi during the same period was 7.4 per cent.