Oman and Egypt are intensifying efforts to strengthen bilateral ties in trade and investment, focusing on creating new economic opportunities.
H.E. Qais bin Mohammed al Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion, recently met Dr. Badr Abdel Aati, Egypt’s Minister of Foreign Affairs and Immigration, during the latter’s visit to Muscat. The discussions emphasized advancing economic cooperation between the two nations.
A key focus of the meeting was the activation of the Omani-Egyptian Businessmen Council. Both ministers underscored its potential as a vital platform for fostering economic partnerships and enhancing trade relations. By reactivating this council, Oman and Egypt aim to streamline joint initiatives and encourage private-sector collaboration in both countries.
Efforts to diversify trade and investment portfolios were also highlighted. The ministers explored ways to broaden the scope of exchanged goods and services, creating opportunities for various economic sectors. They discussed initiatives to enhance joint investments and identified sectors like logistics, infrastructure, and renewable energy as key areas for collaboration.
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Special attention was given to improving maritime connectivity between Oman and Egypt. Both sides expressed interest in developing sea routes linking Egypt’s Suez Canal Economic Zone with Oman’s Special Economic Zone at Duqm and ports like Salalah and Alexandria.
This initiative aims to boost trade efficiency and logistical integration while leveraging the strategic geographic positions of both nations.
Dr. Abdel Aati praised Oman’s Vision 2040 for its focus on economic reform and sustainability. He highlighted Egypt’s expertise in fields such as renewable energy, logistics, and advanced manufacturing, offering partnership opportunities.
Egyptian firms were invited to participate in Oman’s infrastructure projects, including smart cities, transportation networks, and sustainable energy solutions.
The meeting concluded with a commitment to ongoing dialogue and strategic collaboration. Both countries aim to implement measures that foster economic growth, technological innovation, and sustainable development.
