The Sultanate of Oman and the Hashemite Kingdom of Jordan will enter into Memoranda of Understanding (MoUs) in the fields of trade, commerce, tourism, and higher education, among others, during the Royal visit starting on Tuesday, October 4, according to the Embassy of Jordan in the Sultanate of Oman.
"We are expecting to sign several understandings in various fields, including trade and commerce," said Deputy Ambassador of Jordan to the Sultanate of Oman.
"Our trade relations with the country are strong and are developing from year to year, as it reached at the end of 2021 to $152 million, which makes it imperative for businessmen and the various economic sectors and companies in both the countries to take advantage of the opportunities in both countries," he said.
"The balance of trade is in favour of Sultanate of Oman, and we need to improve the existing bilateral relations in the areas of medical, educational, logistics and special economic zones such as Duqm, which is an economic model in the region In light of the Oman Vision 2040," the source added.
According to the statistics released by the National Centre for Statistics and Information (NCSI), the volume of trade exchange between Oman and Jordan increased 33.8 per cent in 2021 to RO 61.85mn, compared to RO 46.23mn in 2020.
Omani imports from Jordan in 2021 stood at RO 72.6million, compared to RO 24.6 million in 2020, comprising a 43.8 per cent increase. Omani imports from Jordan for the first six months of 2022 stand at RO 6.7 million.
The Sultanate of Oman imports from Jordan mostly vehicles, edible vegetables and certain roots and tubers, edible fruits, nuts, peel of citrus fruit, melons, pharmaceutical products, fertilisers, soaps, lubricants, waxes, candles, modelling pastes, miscellaneous manufactured articles, plastics, machinery, boilers, dairy products, eggs, honey, and other edible products.
Jordan's major imports comprise dairy products, eggs, honey, edible products, fertilisers, mineral fuels, oils, distillation products, plastics, miscellaneous edible preparations, stone, plaster, cement, asbestos, mica or similar materials, glass and glassware, cereal, flour, starch, milk preparations and products, and cotton.
NCSI statistics further suggest that the volume of Jordanian investments in the Sultanate of Oman stood at RO 230.4m by the end of 2021.
"We will mostly seek to strengthen our bilateral relations, besides the diplomatic arena, mutual investment opportunities in the economic and free zones scattered throughout the Kingdom, and in the information technology, educational, tourism and health sectors," the source added.