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Oman, UAE discuss trade cooperation; Bilateral trade hits Rs 4.19 billion

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Muscat – Minister of Commerce, Industry and Investment Promotion Qais Mohammed al Yousef met Dr Thani Ahmed al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates (UAE), who is visiting Muscat on Monday .

The two sides discussed a series of issues of mutual concern. They also examined ways to promote joint cooperation in the field of trade.

The parties also exchanged expertise in organizing business events, curbing difficulties and increasing trade flows between the Sultanate of Oman and the UAE.

The two sides also reviewed the characteristics of the two countries’ trade strategies and business exchanges data.

As of the end of September 2022, the trade volume between the two countries is about 4.19 billion royals. Oman’s non-oil exports to the UAE totaled R917.6 million, while imports amounted to approximately R3.272 billion.

Foreign Minister receives UAE Minister

Earlier in the day, His Excellency Sayyid Badr Hamad al Busaidi, Minister of Foreign Affairs, received Dr Zeyoudi in his office. The two sides reviewed cooperation between the two countries in the fields of business, investment and economic diversification. They also affirmed the enthusiasm of the leaders of the two countries to advance mutual relations in various fields.

The meeting was attended by His Excellency Dr. Saleh Said Masan, Undersecretary for Industry and Investment Promotion, Ministry of Commerce, Industry and Investment Promotion, and several other officials from both parties.

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