The UAE and Oman discuss promising economic opportunities in logistics, food security and supply chains

The Minister of Economy and Tourism, Abdullah bin Touq Al Marri, affirmed that the United Arab Emirates and the sisterly Sultanate of Oman are linked by close historical relations, based on brotherhood, popular and societal rapprochement, and the sincere desire of the leadership of the two countries to advance joint cooperation to broader and more comprehensive horizons, indicating that the UAE is keen to continue strengthening and developing frameworks for economic and investment cooperation with the Sultanate of Oman, in a way that serves common interests and supports sustainable development in the two brotherly countries.

This came during a bilateral meeting held by Abdullah bin Touq with the Chairman of the General Authority for Special Economic Zones and Free Zones in the Sultanate of Oman, Qais bin Muhammad Al-Yousef, at the headquarters of the Ministry of Economy and Tourism in Abu Dhabi.

The two sides discussed promising economic and investment opportunities in a range of vital sectors, including food security, infrastructure, logistics services, supply chains, energy and industry.

Bin Touq said: “The two countries share a common vision in developing the distinguished economic partnership, which is a fundamental pillar in the development process of the two countries. The economic and investment cooperation between them represents a successful model of integration and coordination at the level of the Gulf Cooperation Council countries, especially since the UAE markets host more than 9,180 companies and approximately 550 Omani brands working in various economic activities and fields, which reflects the continuing momentum in mutual investment business between the two countries.”

During the meeting, the two sides discussed strengthening communication channels between the Emirati and Omani business communities, which contributes to the establishment of new and diverse projects and supports expanding the horizons of cooperation between the private sectors in the two countries.

They stressed the importance of providing all means of support to exporters and importers, and facilitating the movement of exchange of goods and services between companies in the markets of the two countries, especially in light of the current circumstances, in a way that enhances the flow of their flow, increases their volume, and contributes to their diversification, and in a way that supports paths of sustainable economic growth in the two countries.

Abdullah bin Touq reviewed a number of economic policies and measures taken by the UAE to enhance the business and economic environment, continue economic openness to the world, and establish fruitful economic partnerships with vital markets regionally and internationally, as well as the efforts made to enhance the attractiveness of the UAE market for new economy projects and companies, and support the competitiveness of the economic legislative environment, which contributed to strengthening the UAE’s position as a leading economic center for business and investment at the regional and global levels.