Oman and UK Explore Enhanced Cooperation in Commerce and Investment

Muscat, The Gulf Observer: Qais Mohammed Al Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion, hosted Douglas Alexander, UK Minister of State for Trade Policy and Economic Security, in a meeting held today at the Ministry’s office.

The discussions focused on strengthening bilateral cooperation in commerce, industry, and investment. Both ministers emphasized the positive growth indicators of intra-trade and explored ways to enhance trade exchanges and investment opportunities between Oman and the United Kingdom.

A key topic of the meeting was the ongoing negotiations for a free trade agreement between the Gulf Cooperation Council (GCC) and the UK. Both sides expressed their commitment to advancing these negotiations and explored various mutual interests.

During the session, a comprehensive presentation highlighted the longstanding and multifaceted relationship between Oman and the UK. The presentation underscored the importance of expanding investment and commerce, as well as advancing technology transfer between the two nations.

Additionally, another presentation focused on Oman Vision 2040, outlining its strategic objectives and showcasing the investment environment in Oman. This included insights into recent economic developments, investment laws, and the facilities and support provided by the Ministry of Commerce, Industry, and Investment Promotion to investors across various sectors.

The meeting was attended by officials from both Oman and the UK, who participated in discussions aimed at deepening the partnership and fostering greater economic and trade relations.