His Excellency the Minister of Commerce, Dr. Majid bin Abdullah Al-Qasabi, affirmed the depth and strength of bilateral relations between the Kingdom of Saudi Arabia and the Sultanate of Oman in all fields, especially the commercial field, which is witnessing a remarkable development as a result of the two countries’ ambitious vision, and the growing volume of trade exchange.
In a statement on the occasion of the visit of His Majesty Sultan Haitham bin Tariq, Sultan of Oman to the Kingdom, Minister Al-Qasabi said that the joint visits of senior officials express the serious desire to devote efforts and build strong strategic partnerships in various fields to serve the two brotherly countries and peoples, and raise the volume of trade exchange between the two countries, which amounted to more than 58.6 billion. riyals during the past six years (2015-2020).
He indicated that the leaderships of the two countries are keen to develop economic and trade relations and enhance joint cooperation through the Saudi-Omani Business Council, which will contribute – God willing – to translating trade and investment opportunities into tangible partnerships, as an effective channel of communication between businessmen to enhance partnership and identify and benefit from investment opportunities.
It is noteworthy that the volume of Omani licensed investments in the Kingdom amounted to more than 318 million riyals, and the Kingdom ranked seventh among the countries exporting to Oman, while Oman ranked nineteenth among the countries exporting to the Kingdom.