Oman and UK discuss enhancing economic cooperation

Oman’s Minister of Commerce, Industry and Investment Promotion, Qais bin Mohammed Al Yousef, met in Muscat with Douglas Alexander, UK Minister of State for Trade Policy and Economic Security.

The Ministers reviewed the growth in trade between Oman and the UK and discussed how to strengthen cooperation between the two friendly countries in the commercial, industrial and investment sectors.

They agreed on their commitment to advancing negotiations on the Free Trade Agreement between the countries of the Gulf Cooperation Council (GCC) and the United Kingdom. Other topics of mutual interest were also discussed.

During the meeting, a presentation was made on the strength of Omani-British relations and the importance of further developing them in the areas of investment, trade and technology transfer.

A presentation on the key principles and objectives of Oman Vision 2040 was also delivered, highlighting the favourable investment environment in Oman and setting out the latest economic developments, investment laws and the facilities provided by the Ministry of Commerce to investors in various sectors.

The meeting was attended from Oman by Dr Saleh Said Masan, Undersecretary of the Ministry of Commerce and Industry and Pankaj Khimji, the Ministry's Advisor for International Cooperation and Foreign Trade. From the UK the meeting was attended by the Trade Commissioner for the Middle East, the UK's Chief Negotiator for Free Trade Agreements and Dr Liane Saunders, British Ambassador to Oman. Several Omani and UK officials were also present.