MUSCAT: Acting in cooperation with the Embassy of the Republic of Korea in Muscat, the Foreign Ministry on Wednesday held a ceremony to mark the 50th anniversary of establishment of diplomatic relations between the two countries. The ceremony also saw the launch of a commemorative slogan incarnating the depth and strength of diplomatic relations.
Shaikh Khalifa bin Ali al Harthy, Under-Secretary of the Foreign Ministry for Diplomatic Affairs, said, "Partnership between Oman and the Republic of Korea is undergoing steady progress in green hydrogen and clean energy sector, among other sectors." Al Harthy pointed out that the authorities concerned are currently embarked on easing visa formalities for Omanis wishing to enter the Republic of Korea.
Trade exchange between the two countries in 2023 stood at more than $5 billion, said Al Harthy, noting that a memorandum of understanding (MoU) on “establishing a framework to enhance trade and investment” was recently signed by the Ministry of Commerce, Industry and Investment Promotion (Oman) and the Ministry of Trade, Industry and Energy of the Republic of Korea.
In a speech on the occasion, Kiejoo Kim, Ambassador of the Republic of Korea to the Sultanate of Oman, hailed relations between the two countries. He pointed out that the Republic of Korea is the third largest trading partner of the Sultanate of Oman and that the volume of bilateral trade between the two countries stood at more than $5 billion in 2023.
Speaking about measures that would further enhance trade and economic exchange, Kim quoted the free trade agreement (FTA) between the Republic of Korea and GCC states, a bilateral trade and investment promotion framework and a set of agreements inked by the two sides.
Kim stressed the importance of Oman Vision 2040 in consolidating joint efforts to upgrade cooperation through more future-oriented partnerships in the areas of renewable energy, environment-related technology and other sectors.
The establishment of diplomatic relations between the Sultanate of Oman and the Republic of Korea in 1974 paved the way for cooperation in many political, diplomatic, economic and cultural spheres. - ONA
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