Oman and Saudi Arabia have decided to further strengthen trade relations and explore new areas of cooperation.
This came in a meeting between the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) with the Saudi Arabia’s Ministry of Commerce in Muscat on Thursday.
The discussions between Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion; and Dr Majid Abdullah al Qasabi, Saudi Minister of Commerce, Acting Minister of Media, explored methods of overcoming difficulties and augmenting trade exchange between the two countries.
“There is no doubt that Saudi-Omani political relations are historic and solid, but economic relations do not rise to the aspirations of the leaders nor of the people. We are working on setting targets to increase trade and investment between the two fraternal countries. Today, the Kingdom has Vision 2030 and the Sultanate of Oman has Vision 2040, and I think that there are many promising opportunities for investment and cooperation,” said Al Qasabi.
“We shared the Kingdom’s experience with Vision 2030, as well as the lessons and challenges we learned with our Omani brothers.”
During the meeting, the experiences of Saudi Arabia in e-commerce were reviewed. They discussed mechanisms for controlling e-commerce action, enabling access to target markets for non-oil exports and investments, addressing obstacles facing trade between the two countries, providing protection for national products from practices deemed harmful to international trade and upgrading private sector contribution to external trade.
The meeting was in pursuance of efforts to consolidate commercial exchange in a sustainable manner, as well as forging new economic partnerships.
Dr Al Qasabi also met Sayyid Badr bin Hamad al Busaidy, Foreign Minister; Sultan bin Salim al Habsi, Minister of Finance; and Dr Abdullah bin Nasser al Harrasi, Minister of Information.
In another meeting Dr Khamis bin Saif al Jabri, Chairman of the Oman Vision 2040 Implementation Follow-up Unit, and Dr Al Qasabi exchanged views on Oman Vision 2040 and Saudi Vision 2030.
Dr Al Qasabi and his delegation toured the facilities of the Youth Centre, which boasts a wide range of halls and laboratories for 3D printing, drones, virtual reality simulation, training halls and multi-purpose units.
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