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Economic experts and businessmen agree that the UAE President’s visit has had a positive economic impact.
Muscat: According to prominent economists and businessmen in Oman, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, recently paid a landmark visit to the Sultanate of Oman, during which several bilateral agreements signed are expected to will stimulate economic growth.
Economic experts and businessmen agree that the UAE President’s visit has had a positive economic impact. Your Excellency Engineer. Rida bin Juma Al Saleh, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry (OCCI), praised the positive results achieved after His Highness Sheikh Mohamed bin Zayed Al Nahyan’s visit to the Sultanate.
HE Al Saleh said: “The Sultanate and the UAE have had commercial relations since ancient times. These relations have contributed to the development of strong cooperation and relationship building between the business sectors of the two sibling countries.”
He added that “the signing of 12 memorandums of understanding and four cooperation agreements in various fields” confirmed the desire of the two neighbors to strengthen trade, economic and investment cooperation.
“These agreements will revitalize bilateral trade in various fields and will contribute to the development of the country,” His Excellency Al Saleh said. The OCCI executive said: “There is no doubt that this visit reflects the existing cooperation to build partnerships and business and investment projects. Strengthen exchanges and cooperation between brother countries in various fields and areas of interest. The positive result is that the Sultanate and sister UAE The result of determined steps taken to achieve the goals set out in the map of cooperation between the two brotherly countries.”
Speaking to The Times of Oman, academic and economic analyst Dr Mohammed Al Wardi said: “The UAE is the Sultanate’s largest (non-oil) trading and investment partner. The trade between them is RM5.5 billion, while mutual investment RM1.5 billion.”
“Promoting economic integration is in the interests of both countries and reflects the unity of geography, history and common destiny,” he added.
Recalling the UAE President’s visit, Sheikh Taher bin Mabkhout Al Junaibi, a prominent Omani businessman, said: “Such visits between leaders always pave the way for strengthening relations and forging partnerships at all levels and in different fields.
“It strengthens the ties between the two brotherly countries and between the two peoples. The strong public interest in the visit reflects the strong desire and successful conclusion of the visit.
“The signing of 12 memorandums of understanding and 4 cooperation agreements covering various economic and strategic areas was welcomed by all. The wish of the fraternal people is for more integration and cooperation.”
Al-Junaibi added: “As a businessman, I see trade and industrial cooperation between the two countries will develop, especially due to the proximity of the two countries. The passenger and freight train project will connect the two countries and will have a positive impact. This will be reflected in the facilitation of the flow of passengers and goods”
“We are grateful for the achievements of the wise leaders of the Sultanate of Oman and the United Arab Emirates. There are many areas where cooperation can be further strengthened to serve the two brotherly countries,” he said.
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