Muscat: The Sultanate of Oman, represented by the Ministry of Commerce, Industry and Investment Promotion and the Kingdom of Saudi Arabia (KSA), represented by the Ministry of Commerce, signed two memoranda of understanding (MoUs) at Al Bustan Palace Hotel today on upgrading cooperation in the fields of trade, standardization, specifications, quality, criteria and labs.
The pacts coincide with the current visit to Oman by HRH Prince Mohammed bin Salman Al Saud, KSA Crown Prince, Deputy Prime Minister and Minister of Defence in Saudi Arabia. The MoUs were signed by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, and Dr. Majid Al Qasabi, Minister of Commerce, Acting Minister of Media in KSA.
The MoU in the field of commerce deals with exchanging expertise on enhancing the competitiveness of national industries, protecting national products against harmful practices, studying experiences on developing the ease of digitized trade, regulating commercial activity, organizing promotional offers, encouraging joint economic activities, upgrading the level of commercial exchange, foreign trade and exploring markets and export opportunities. The MoU in the field of standardization encourages the exchange of information and studies in research and cooperation in the fields of specifications, measurements, criteria and labs, as well as consumer protection and cooperation in achieving mutual concordance and acknowledgement.