Oman and Egypt have explored new opportunities to strengthen bilateral investments, focusing on ways to enhance economic collaboration between the two nations.
The two sides also discussed the potential for achieving industrial integration in several promising fields to maximize the benefits from the Greater Arab Free Trade Area agreement.
Qais Mohammed Al Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion, received Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry of the Arab Republic of Egypt.
According to the statement, both sides appreciated the efforts made to expedite the completion of Memoranda of Understanding regarding the unification of acceptance requirements for goods, products, and services, as well as the field of anti-dumping, subsidies, and safeguards.
This aims to achieve common goals and strengthen pathways of economic and industrial cooperation between the two countries. They also agreed to organize an economic forum in coordination between the Chambers of Commerce in the Sultanate of Oman and the Arab Republic of Egypt.
Al Yousef Meets Egyptian Business Leaders
On a separate occasion, Qais Mohammed Al Yousef met with some Egyptian businesspersons. During the meeting, they reviewed the investment opportunities available in the Sultanate of Oman, as well as current and future projects.
This contributes to enhancing economic and industrial partnerships between the two sides, supporting the expansion of joint commercial activity, and augmenting the volume of trade exchange between the two countries.
Oman Minister Highlights Role of Joint Industrial Projects
Al Yousef emphasized the importance of transitioning Omani-Egyptian economic relations to broader horizons based on joint manufacturing and export.
The Oman Minister said that, “This would contribute to enhancing added value, stimulating the establishment of joint industrial projects in priority sectors, and transferring expertise and modern technologies.”
