The Sultanate of Oman and the United Arab Emirates are strengthening their fraternal bonds and strategic partnership, with a focus on economic and trade cooperation. The two countries have a long history of collaboration, dating back to the first meeting between late Sultan Qaboos bin Said and Sheikh Zayed bin Sultan Al Nahyan.
The recent state visit of His Majesty Sultan Haitham bin Tarik to the UAE highlights the importance of elevating bilateral relations to new heights. The visit aims to promote cooperation in various fields and discuss regional and international developments.
The joint supreme committee between Oman and the UAE, established in 1991, plays a crucial role in enhancing cooperation in economic, commercial, cultural, and educational sectors. The committee works towards linking electricity and communications networks, coordinating land transport services, and promoting joint investment opportunities.
According to statistics, the volume of trade exchange between the two countries reached RO 5.439 billion by the end of 2023. Omani exports to the UAE exceeded RO 1 billion, reflecting a growing economic partnership. The UAE is also a key destination for Omani investments abroad, while Emirati investments in Oman continue to grow.
The establishment of “Oman and Etihad Rail” in 2022 further solidifies the economic ties between the two countries. The joint company aims to develop a railway network linking Sohar Port to the UAE national railway network, with a total investment of USD 3 billion.
Overall, Oman and the UAE are committed to enhancing cooperation in various sectors, including manufacturing industries, real estate, tourism, and logistics services. The strong economic partnership between the two countries is set to benefit both nations and contribute to regional stability and prosperity.