Several memoranda of understanding (MoUs) were signed between Omani and Saudi companies in Muscat on Monday, marking a new step in strengthening economic and industrial ties between the two countries. The agreements aim to build strategic partnerships, exchange expertise, and open new markets for national products.
By the Numbers
The new agreements build on a foundation of strong and growing trade between the two Gulf nations:
- RO 2.18 Billion: The total trade volume between Oman and Saudi Arabia by the end of December 2024.
- 35.7% Increase: The rise in Omani industrial exports to Saudi Arabia in the first half of 2025 compared to the same period in 2024.
- RO 538 Million: The value of Omani industrial exports to the Kingdom in H1 2025.
A Platform for Cross-Border Collaboration
The signings took place during bilateral meetings organized by Oman’s Ministry of Commerce, Industry and Investment Promotion (MoCIIP) in cooperation with the Saudi Export Development Authority. The meetings brought together entrepreneurs and manufacturers from both countries to explore cooperation in key sectors, including construction, food, packaging, and medical industries.
A Shared Vision for Economic Diversification
H.E. Qais bin Mohammed al Yousef, Oman’s Minister of Commerce, Industry and Investment Promotion, stressed that the meetings represent “an important step to strengthening economic, trade and industrial cooperation between the two countries.” He added that the ministry is committed to creating a business environment that attracts joint investments and supports quality projects aligned with both Oman Vision 2040 and Saudi Vision 2030. Khalid bin Salim al Qassabi, Director General of Industry at MoCIIP, noted that cooperation with Saudi Arabia opens opportunities for building industrial partnerships capable of competing at regional and international levels.
Source: Zawya
