Abu Dhabi: Following the announcement of several agreements witnessed by Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and His Majesty Sultan Haitham bin Tariq, Sultan of Oman, a business forum between the UAE and Oman was held as part of Sultan Haitham’s state visit to the UAE.
Following the signings in the presence of Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Office of Development and Martyrs’ Families Affairs at the Presidential Court; and Sheikh Hamed bin Zayed Al Nahyan, several UAE and Omani companies entered into investment and collaboration agreements across various sectors.
These agreements span renewable energy, green metals, railway, and digital infrastructure and technology investments, furthering the commitments outlined in the agreements between the Ministry of Investment of the UAE and the Ministry of Commerce, Trade and Investment Promotion of the Sultanate of Oman.
The UAE-Oman joint business forum was held in the presence of Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA), to exchange agreements with an estimated total value of AED 129 billion, underscoring the commitment of both countries and representing a significant step towards enhancing economic cooperation aimed at driving economic development through strategic investments.
HE Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, observed that,“ The UAE and Oman have strong historical relations that are founded on shared values, goals and principles. The agreements represent a major milestone in our bilateral ties, as they pave the way for us to leverage our collective strength to realise our shared vision of advancement and prosperity. Today, we are witnessing the exchange of agreements that take our historical partnership to the next level as we move forward together towards a brighter future.”
The UAE distinguishes itself as one of the foremost nations globally in terms of investment and trade with the Sultanate of Oman, with non-oil trade volumes reaching approximately AED 50 billion (13 billion) in 2023. The agreements signed today will serve to bolster relations across key sectors and foster socio-economic benefits, contributing towards a stable and prosperous future for both countries.