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Saudi-Omani Forum to Witness Signing of Economic MoUs

Saudi-Omani Forum to Witness Signing of Economic MoUs

Monday, 6 December, 2021 - 10:15
The forum is expected to witness the signing of memoranda of understanding with the aim to enhance economic, investment and trade cooperation between Saudi Arabia and Oman. Asharq Al-Awsat

An economic forum is scheduled to be held in Muscat on Monday in the presence of Saudi and Omani ministers and representatives of the private sector during the visit of Saudi Crown Prince Mohammed bin Salman to the Sultanate.


The forum is expected to witness the signing of memoranda of understanding to enhance economic, investment and trade cooperation between the two countries.


In remarks to Asharq Al-Awsat, the Chairman of the Saudi-Omani Business Council, Nasser bin Saeed Al-Hajri, said that the visit of the Crown Prince to Muscat will demonstrate “the unity of positions ... in the face of all challenges.”


A fundamental role will be played by the Saudi and Omani Business Owners Council in supporting the volume of business and joint projects between the two sides, according to Al-Hajri, who also noted that bilateral meetings between the business councils have made many achievements, in line with the Saudi Vision 2030 and the Omani Vision 2040, to diversify the economy and establish strong and joint economic entities.


According to Al-Hajri, the Muscat meetings will seek to exploit the available investment opportunities and achieve economic integration between the two sides, stressing that the political will has played a pivotal role in removing all obstacles facing the investors in the two countries.


He said that the business sectors in Saudi Arabia and Oman, shortly before and during the recent visit of Sultan Haitham bin Tariq to the Kingdom, signed several agreements for partnerships in industrial cities, logistics and renewable energy, while an Omani delegation had previously offered 150 investment opportunities to Saudis worth USD4 billion in various vital fields.


According to the National Center for Statistics and Information in Oman, the volume of trade exchange between the two countries amounted to 10 billion riyals (USD2.6 billion dollars) in 2020.


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