Muscat: The Minister of Commerce, Industry and Investment Promotion, Qais Mohammed Al Yousef, has stated that His Majesty Sultan Haitham bin Tarik's trip to the Russian Federation highlights the significance of the relationship between the two amicable nations.
According to the minister, these ties are founded on principles of mutual respect and understanding.
In remarks given to the Oman News Agency (ONA), he pointed out that the relationship between Oman and Russia has experienced considerable growth over the years, evident in the increasing cooperation and the broadening of its areas of engagement. This reflects a common aspiration to fortify partnership connections and widen their scope to encompass more varied and innovative opportunities, he noted.
He observed that the relations between Oman and Russia have made a considerable advancement in recent times, reached by Oman’s role as a guest of honor at the 2023 St. Petersburg International Economic Forum—an important landmark that presented a significant opportunity to highlight Oman’s economic and cultural assets. This gathering enabled high-level discussions with Russian entities and businesses, further boosting collaboration across multiple sectors.
Al Yousef remarked that any dialogue regarding Omani-Russian relations should recognize the cultural aspect, which acts as an essential link between the two nations. He stated, "This dimension is deeply rooted in the exchange of knowledge and art, as well as the joint involvement in cultural events and international exhibitions. Such cooperation showcases the richness of both nations' civilizational heritages, encourages human understanding, and enhances the dialogue among institutions and communities. "
He indicated that Russia is a vital strategic ally for Oman and that the Ministry of Commerce, Industry and Investment Promotion is dedicated to furthering this shared heritage.
He underscored that this significant visit represents a crucial turning point in bilateral cooperation, paving the way for enhancing economic relations to more integrated levels. The minister asserted that this goal will be realized by intensifying partnerships in key sectors such as industry, logistics, tourism, food security, energy, cutting-edge technologies, and manufacturing. He reiterated Oman’s dedication to advancing collaboration on innovation and technical knowledge exchange to improve competitiveness and attain sustainable growth.
He elaborated that this visit culminates ongoing efforts from both government and private sectors, resulting in several agreements and memoranda of understanding. These encompass an Economic and Technical Cooperation Protocol, the creation of a Joint Economic Committee, and MoUs on climate change, low-carbon growth, transportation, and transit.
Such agreements reinforce the institutional framework for collaboration and present tangible opportunities for the private sector to leverage investment openings in both nations.
In the context of global economic challenges, he reaffirmed Oman’s commitment to cultivating a secure and appealing investment landscape that encourages entrepreneurship, enhances trade, and fosters balanced economic development.
Wrapping up his statements, Qais Mohammed Al Yousef voiced strong optimism that this momentous visit will usher in a new era of close collaboration, solidifying Oman’s status as a promising investment hub and a trustworthy international ally under the enlightened leadership of His Majesty the Sultan.
