Muscat – H E Qais Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, received Khalil Ibrahim Ibn Salamah, Deputy Minister for Industry Affairs of the Kingdom of Saudi Arabia, on Wednesday to explore ways of strengthening industrial integration and trade relations between Oman and Saudi Arabia.

The meeting, which was attended by H E Dr Saleh Said Masan, Undersecretary for Commerce and Industry in the Ministry of Commerce, Industry and Investment Promotion (MoCIIP), and H E Ibrahim Saad Bishan, Ambassador of Saudi Arabia to Oman, focused on enhancing trade exchange and industrial collaboration. The two sides discussed ways to facilitate exports, improve supply chains and address challenges faced by exporters in both countries.

Discussions also emphasised the importance of creating an environment conducive to economic cooperation and strategic integration between Oman and Saudi Arabia.

In a related initiative, MoCIIP, in collaboration with the Saudi Ministry of Industry and Mineral Resources and Oman Chamber of Commerce and Industry, will organise a workshop on Thursday aimed at identifying opportunities to enhance trade and industrial integration, streamline exports, and address challenges faced by exporters in both nations. It will also focus on advancing industrial initiatives in alignment with Oman Vision 2040 and Saudi Vision 2030.

Data released by National Centre for Statistics and Information shows a significant rise in trade between the two nations. Omani non-oil exports to Saudi Arabia have doubled since 2020, reaching over RO1bn at the end of 2023. This increase is attributed to growth in exports of mineral products, machinery, electrical equipment and food products. Non-oil imports from Saudi Arabia have also risen, valued at RO1.8bn at the end of 2023.