ABU DHABI – Khalifa Shaheen al Marar, Minister of State at the Ministry of Foreign Affairs and International Cooperation of the United Arab Emirates, said that the UAE is the largest trading partner of the Sultanate of Oman at the global level.
He said that cooperation between the Sultanate of Oman and the United Arab Emirates will enhance promising economic and investment opportunities by facilitating procedures for investors, industrialists, and businessmen in the fields of industry, advanced technology, and future industries. and sustainable industries.
He said that the signing of 16 memoranda of understanding during the visit of Sheikh Mohamed bin Zayed al Nahyan to the Sultanate of Oman, which covered various sectors, including space, medical and agricultural technology, aviation, and others, is an indication of support for cooperation and joint coordination in various economic, investment, cultural and development fields and pushing them forward.
He pointed out that the agreement to establish Oman and Etihad Rail Company, owned equally between the two sides, was worth $3 billion, and the partnership agreement signed between the Oman Investment Authority and the UAE Holding Company, worth about RO1 billion, aims at the two countries’ keenness to deepen and expand bilateral relations to promote growth in vital and priority sectors.
And he indicated that the value of non-oil trade exchange between the two countries in 2021 amounted to more than 46 billion dirhams, a growth of nine percent over 2020, which makes the Sultanate of Oman the second largest Gulf trading partner of the UAE, with 20 percent of its total trade with the Gulf Cooperation Council countries.
