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Riyadh: The quantity of Omani non-oil exports to the Kingdom of Saudi Arabia till September 2022 was greater than RO659 million, up 33.98% from 2021, as a consequence of sturdy relations.

The quantity of Saudi imports to the Sultanate of Oman elevated to RO1,270 million throughout the identical interval in 2022, a rise of 219% from 2021.

The commerce exchanges have been additionally helped by the opening of the Empty Quarter following the go to of Crown Prince Mohammed bin Salman to the Sultanate in December 2021.

Each international locations additionally signed a Memorandum of Understanding to finance the primary section of the development of the built-in financial zone in Al Dhahirah Governorate within the Sultanate of Oman. Extra agreements can be signed throughout the course of this discussion board.

Key authorities officers, enterprise leaders, and financial consultants from the Sultanate of Oman and the Kingdom of Saudi Arabia are discussing for 3 days issues aimed toward enhancing commerce, financial, and funding ties between the 2 brotherly international locations.

The interactions will happen as a part of the Saudi-Oman Funding Discussion board, organized by the Omani Ministry of Commerce, Business, and Funding Promotion, in cooperation with the Saudi Ministry of Funding. Additionally anticipated to attend are high-ranking officers, chief executives of main Omani and Saudi corporations, and representatives of the private and non-private sectors within the two international locations.

Collaborating from Oman is a high-level delegation comprising officers of the Oman Funding Authority (OIA), the Public Authority for Particular Financial Zones and Free Zones (OPAZ), the Small and Medium Enterprises Improvement Authority, and the Oman Chamber of Commerce and Business (OCCI).

The discussion board goals to consolidate and improve joint commerce and funding relations between the 2 brotherly international locations, discover strategic alternatives for joint funding, and help personal sector establishments within the two international locations to open broader avenues for joint motion for the good thing about the 2 international locations.

The discussion board’s actions embody dialogue classes specializing in promising funding sectors comparable to renewable power, provide chains, tourism, actual property, transportation and logistics providers, and different actions of frequent curiosity that contribute to advancing and accelerating the amount of funding flows between the 2 international locations and enhancing commerce trade.

The discussion board may even deal with funding alternatives within the two international locations, notably within the industrial cities and free zones.

Happening on the sidelines is the Saudi-Omani Industries Exhibition, with the participation of presidency businesses from the 2 international locations and essentially the most distinguished Oman and Saudi corporations, which is able to show their services. The expo is sponsored by ACWA Energy, Made in Saudi Programe, and Riyad Financial institution.

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By Samy