‘HM’S historic visit to Egypt to explore newer avenues of cooperation’

THE VOLUME OF INTRA-TRADE BETWEEN OMAN AND EGYPT INCREASED BY NEARLY 52 PER CENT

THE MAJOR IMPORTS OF EGYPT FROM OMAN ARE METAL ORES, FISH, ALUMINUM AND ITS MANUFACTURES, AND ORGANIC CHEMICAL PRODUCTS

OMAN IMPORTS SOME AGRICULTURAL PRODUCTS, FURNITURE, ELECTRICAL APPLIANCES, DAIRY PRODUCTS FROM EGYPT

Khaled Mohamed Radi, Ambassador of the Arab Republic of Egypt to the Sultanate of Oman, was in high hopes that the historic visit of His Majesty Sultan Haitham bin Tarik to Egypt would further deepen the existing strong relations that are deep-rooted in history, and move to broader horizons and further avenues of development between the two brotherly countries in various fields.

“The two sides will discuss ways to strengthen and develop relations, whether at the political, economic, commercial, cultural or social levels, in addition to Egyptian-omani coordination on various regional and international issues, as the region needs more coordination and cooperation to secure peace in the region, so that its people can enjoy more security and stability,” the ambassador said.

He pointed out that the visit of Abdel Fattah el Sisi, President of the Arab Republic of Egypt, to the Sultanate of Oman earlier was a turning point in the path of relations between the two countries and witnessed the signing of a large number of agreements, which included many areas, including those related to maritime, navigation, investment, trade and industry, besides Mous in combating monopoly and providing means for free competition, and industrial development and investment promotion. “The signing of these agreements established the solid base that enabled the Omani and Egyptian sides to build a large edifice of cooperation last year,” he said. The volume of intratrade between the Sultanate of Oman and the Arab Republic of Egypt increased by nearly 52 per cent compared to the year 2021, as the volume of trade exchange reached nearly one billion and nine million Egyptian pounds, and Egyptian exports to the Sultanate of Oman amounted to about $433 million. The major imports of Egypt from the Sultanate of Oman are metal ores, fish, aluminium and its manufactures and organic chemical products, while the Sultanate of Oman imports some agricultural products, furniture, electrical appliances, dairy products among others from Egypt.

“What makes Oman a suitable country for investments is that the country is witnessing stability and a positive climate that encourages investment, the legislation and systems which provide to the foreign investor through the single port encourages the investor to come to the Sultanate of Oman, where we find the Sultanate of Oman’s credit rating in progress and rising, which is a clear indication of efforts and hard work under Royal directives and Oman is an oasis of security and stability and a destination for foreign investors, including investors from Egypt,” Radi said.

The number of Egyptian companies operating in the Sultanate of Oman are on a continuous rise, and they reached nearly 1,900 firms across the country, all of which reflect the depth and strong ties of cooperation between the two brotherly countries.

DIRECTIVE FROM THE TWO LEADERSHIPS FOR OFFICIALS IN THE TWO COUNTRIES TO WORK TOGETHER

CULTURAL RELATIONS AND TIES BETWEEN OMAN AND EGYPT ‘VERY LARGE, DIVERSE’ IN MANY FIELDS