Muscat – Omani and Turkish officials held meetings on Thursday to discuss ways of enhancing commercial and industrial cooperation, as well as bilateral trade between the two countries.

H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, met with Omer Bolat, Türkiye’s Minister of Trade, and Mehmet Fatih Kacır, Minister of Industry and Technology, at Al Bustan Palace Hotel in Muscat. The meeting took place on the sidelines of the state visit of President Recep Tayyip Erdoğan of the Republic of Türkiye to the Sultanate of Oman.

The discussions focused on strengthening trade exchange between the two nations, highlighting the importance of activating joint economic channels and advancing negotiations on the Free Trade Agreement (FTA) between the GCC states and the Republic of Türkiye. The FTA aims to remove non-tariff barriers and facilitate the movement of goods, services and investments between two sides.

The meeting also explored opportunities for industrial collaboration in sectors such as mining, renewable energy and electric vehicle manufacturing. Both sides discussed the potential establishment of Turkish factories within Oman’s economic zones, capitalising on the logistical advantages and investment incentives offered by the sultanate to local and international investors.

Further discussions covered potential cooperation in the pharmaceutical and technology industries, enhancing partnerships in research and development, and vocational training. The two sides also reviewed a proposal to establish a direct maritime shipping route between the ports of both countries to facilitate trade and re-export activities.

Emphasising the importance of closer coordination between relevant authorities in both nations, the meeting underscored the need to increase the organisation of joint trade and investment forums and to exchange expertise across various sectors. These efforts aim to strengthen economic relations and support sustainable development in both countries.

The meeting was attended by Pankaj Khimji, Advisor for Foreign Trade and International Cooperation and Chairman of the Oman Centre for Strategic Partnerships and Foreign Trade at the Ministry of Commerce, Industry and Investment Promotion, along with several officials from both sides.

Oman, Türkiye sign 6 agreements, 8 MoUs

Oman and Türkiye on Thursday signed six agreements and eight memoranda of understanding (MoUs) aimed at enhancing investment and cooperation across various sectors between the two countries.

The signing ceremonies took place during the state visit of Turkish President Recep Tayyip Erdoğan to the Sultanate of Oman. Among the key outcomes was the establishment of the Omani–Turkish Coordinating Council.

Capital participation agreements were also signed between Amber Limited – a special purpose vehicle owned by the Oman Investment Authority – and the Turkish Oyak Fund, as well as between the Uzbek–Omani Company and the Turkish Oyak Fund.

Additional agreements included cooperation between Oman Food Investment Holding Company (Nitaj) and Oyak Holding for Food and Agriculture, and a partnership between Oman Data Park and the Turkish information technology firm Inovance.

Another agreement was signed between the Government of the Sultanate of Oman and the Government of the Republic of Türkiye concerning the allocation of land for the Turkish Maarif Foundation to establish an educational institution. A separate partnership was formed between Sinan Advanced Industries and the Turkish defence electronics company Aselsan.

The memoranda of understanding covered a wide range of areas, including military collaboration and defence industries, technology and innovation, and strategic cooperation between the Oman Investment Authority and the Türkiye Wealth Fund. They also encompassed cooperation in the fields of mining and rare minerals.

Additionally, an MoU was signed between the Ministry of Information of the Sultanate of Oman and the Directorate of Communications of the Presidency of the Republic of Türkiye to strengthen collaboration in media and communications.