Thursday, December 07
07:57 PM

Oman, Egypt sign pacts to boost trade, relations


Muscat – The Sultanate of Oman and the Arab Republic of Egypt signed six memoranda of understanding (MoUs), two agreements, three executive programmes and letters of cooperation in various fields at Al Alam Palace on Tuesday.

The pacts inked are within the context of the official visit of President Abdul Fattah el Sisi to Oman.

The pacts agreed upon are:

#MoU between the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) and the Egyptian Competition Authority on cooperation in promoting competition and combatting monopolistic practices.

#MoU between MoCIIP and the General Authority for Investment and Free Zones in Egypt in the field of investment promotion.

#MoU between MoCIIP and the Egyptian Export Promotion Centre on exports development.

#MoU between the Public Establishment for Industrial Estates and the Egyptian Industrial Development Authority to establish and manage industrial estates.

#MoU between Environment Authority and the Egyptian Ministry of Environment in the field of environment protection.

#MoU on mutual recognition of marine qualification certificates for navigators and shift works issued by Oman and Egypt.

#Initial cooperation agreement in the field of maritime transport and ports.

#Cooperation agreement between Sultan Qaboos University and the Egyptian National Research Institute of Astronomy and Geophysics.

#Executive programme for cooperation in the field of youth and sports between the Ministry of Culture, Sports and Youth and the Egyptian Ministry of Youth and Sports for 2023 to 2025.

#Executive programme for technical cooperation in the fields of labour and training for 2022.

#Executive programme for cooperation in the field of higher education, research and innovation for 2022, 2023 and 2024.

The pacts were signed by H E Sayyid Badr bin Hamad al Busaidi, Foreign Minister, on behalf of Oman, and Sameh Shoukry, Egyptian Foreign Minister, on behalf of the guests.

Shoukry affirmed that the pacts will boost cooperation between Oman and Egypt, while pointing out that these represent the distinguished relations between the two countries.

On his turn, H E Sayyid Badr said that the pacts complement a set of previous agreements sign-ed between the two countries, and that further cooperation between the two sides is expected, particularly in economic areas.

He further informed that the two countries look forward to augmenting the volume of trade and investment exchange through the Omani-Egyptian Joint Action Committee and other departments concerned.

H E Sayyid Badr described the agreements as a reflection of the two leaderships’ keenness to serve the interests of their countries and peoples.

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