Muscat : This visit, scheduled for Tuesday, January 28, at Al Alam Palace, marks a new chapter in the longstanding partnership between the two nations, focusing on enhancing strategic ties across political, economic, and cultural spheres.
Ambassadors and officials from both countries have emphasised the significance of the visit, which aims to bolster trade relations, investment, and joint initiatives. The Oman-Qatar Joint Committee, active since 1995, has been instrumental in fostering collaboration, particularly in sectors such as energy, manufacturing, and tourism.
Data issued by the National Centre for Statistics and Information indicate that the volume of trade exchange between Oman and Qatar reached over RO 1 billion by the end of 2023, of which RO 284.7 million was the value of Omani exports to Qatar and RO 828.6 million the value of Omani imports from Qatar.
November 2024, of which RO 205.9 million was the value of Omani exports to Qatar, representing 0.9 percent of the total value of Omani exports; RO 754.9 million was the total value of Omani imports from Qatar, representing 5 percent of the total imports.
Qatari investments in Oman witnessed a growth of 12 percent by the end of 2023, reaching RO 730 million, compared to RO 651.9 million in 2022. Omani exports to Qatar, until October 2024, amounted to about RO 140.2 million, while total imports of Oman from Qatar, until October 2024, amounted to about RO 708.7 million.
According to His Excellency Sayyid Ammar bin Abdullah Al Busaidi, Ambassador of the Sultanate of Oman to the State of Qatar, the upcoming visit of His Highness Sheikh Tamim bin Hamad Al Thani reflects the depth of bilateral relations between the two brotherly countries and contributes to enhancing joint cooperation in all fields – whether political, economic or cultural.
His Excellency stressed that the visit will open new horizons for deepening strategic partnership between the two countries, as they enjoy a long history of fruitful cooperation at various levels.
He further pointed out that the most important feature of bilateral relations between the two brotherly countries is the keenness of the two wise leaderships to continue and sustain them, in the service of common interests in a number of areas.
He also explained that a joint investment fund was established between the Omani and Qatari sides under the name of Al Hosn Investment Company in 2007. The company invests in projects from various sectors, which have resulted in investment partnerships, including the establishment of the Oman National Investment Development Company, Qatar Primary Materials Company, and others.
The Ambassador noted that Qatari investments in Oman varied between manufacturing industries in the food and pharmaceutical security industries, and other sectors including education, banking, communications and technology at the level of investment agencies, and the construction, wholesale trade, tourism, logistics, mining, real estate, communications, insurance and other activities sectors at the level of other companies.
He also stressed that Oman and Qatar are working continuously to enhance cooperation in facing global and regional challenges, whether political, economic or environmental. Joint efforts include enhancing regional security, sustaining natural resources, and facing the challenges of climate change. They are also keen on joint cooperation in facing health, educational and social challenges, which reflects the vision of the two countries for stability and prosperity in the region.
His Excellency Sheikh Mubarak bin Fahad bin Jassim Al Thani, Qatar’s Ambassador to the Sultanate of Oman, stressed that bilateral relations between the two brotherly countries are witnessing remarkable growth and development in all fields, especially in joint investments, pointing out that there are many Qatari investments in the Sultanate of Oman, including the Karwa Cars Project and the Qatari Diar Project in Ras Al Hadd.
The visit, he explained, will provide an opportunity to exchange views on global challenges and current issues, while opening new horizons for strategic partnership between Oman and Qatar.
The visit will also highlight ongoing cooperation in renewable energy projects, with both nations sharing a vision for clean energy and green hydrogen production. Additionally, bilateral agreements are expected to be signed, opening new doors for private sector collaboration, trade exchanges, and investment opportunities.
