Muscat – The Sultanate of Oman and the United Kingdom discussed prospects for enhancing trade and investment cooperation between the two countries and advancing negotiations on a free trade agreement between the Gulf Cooperation Council (GCC) countries and the United Kingdom, which would contribute to expanding economic partnerships and developing trade exchange. This came during […]
Muscat – The Sultanate of Oman and the United Kingdom discussed prospects for enhancing trade and investment cooperation between the two countries and advancing negotiations on a free trade agreement between the Gulf Cooperation Council (GCC) countries and the United Kingdom, which would contribute to expanding economic partnerships and developing trade exchange.
This came during a video conference held by His Excellency Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, with Sir Chris Bryant, Minister of Trade Policy of the United Kingdom. The two sides reviewed the progress of negotiations between the two sides and affirmed the Sultanate of Oman’s support for efforts aimed at completing the upcoming rounds of negotiations in preparation for signing the agreement.
At the beginning of the meeting, H E Qais bin Mohammed al Yousef affirmed the Sultanate of Oman’s keenness to develop economic relations with the United Kingdom in various fields, noting that the agreement will open broader horizons for the exchange of goods, services, and investments between the two sides, and contribute to diversifying markets and increasing inter-trade flows.
His Excellency added that the Sultanate of Oman looks forward to establishing a long-term economic partnership with the United Kingdom based on shared interests and complementary investment opportunities.
The importance of strengthening communication between private sector institutions in the two countries was also emphasised. The two sides also discussed the Oman-UK Strategic Advisory Group and its role in enhancing economic and trade cooperation and expanding areas of partnership between the two friendly countries.
The two sides discussed encouraging the holding of joint trade and investment forums and exhibitions, and exploring new opportunities for partnership in the industrial, technical, and logistics fields.
It is noteworthy that the volume of trade exchange between the Sultanate of Oman and the United Kingdom reached approximately OMR 221.7 million by the end of 2024, while the volume of British direct investments in the Sultanate of Oman amounted to more than OMR 158 million distributed among 632 British-owned companies, an increase of 52 percent compared to 2023. British investors are among the largest investors in the Sultanate of Oman, reflecting their growing interest in the promising Omani market.
The Honorable Lady delivers heartfelt speech on Omani Women’s Day
Japanese university awards the government of Oman the “Shokumon” award
New European entry-exit system now in effect across 29 countries
Oman’s disability reforms reflect genuine commitment, says Unicef
Musandam gears up for six-month tourist season
Oman to host Asia’s top Arabic debating talent this month