Doha: The trade exchange between Qatar and Oman has recorded a big jump in recent years. It reached more than QR 6.8 billion during 2019.
The number of joint Qatari-Omani companies operating in the Qatari market is estimated to be more than 350 companies, in a variety of sectors, including services, energy, industry and others, while most of the Qatari investments in the Sultanate are through stakes, alliances and partnerships in more than 200 Omani companies, in different sectors.
As per Omani media reports Qatari investments in the Omani market at the end of 2020 amounted to about OMR 388,600,000, an increase from the previous year, in which Qatari investments in the Sultanate reached about OMR 355,900,000, in addition to the growth of trade exchange in recent years.
The state visit of HM Sultan Haitham bin Tariq of the Sultanate of Oman to the country, represents a confirmation of the strong and distinguished historical relations between the two countries and peoples.
The Amir HH Sheikh Tamim bin Hamad Al Thani and his Sultan of Oman are scheduled to discuss ways to support and strengthen the well-established relations between the two countries and the prospects for their development, in order to achieve the interests and aspirations of the two brotherly peoples, in addition to discussing the latest developments on the regional and international arenas.
The two countries are linked with a set of agreements and memoranda of understanding on cooperation in economic, commercial, cultural, diplomatic, scientific and tourism fields, as well as the Omani-Qatari Joint Committee, which has so far held twenty meetings since its formation. There is the Qatari-Omani Businessmen Council, which meets regularly, as well as the mutual trade fairs.
The commercial and economic activities between the two countries reflect a sincere desire from the Qatari and Omani business community to move the economic relations between the two sides from the level of distinguished brotherly relations to the level of strategic relations and economic partnerships that translate common aspirations and aspirations into giant economic projects and entities that benefit the national economy in both countries.
The economic cooperation between Qatar and Oman has witnessed during the recent period a remarkable growth in the sectors of agriculture, livestock, transportation, communications, energy, tourism, education, construction and banking services. In addition to the investment field of the private sector, which has registered a great development, as there are a number of joint projects in the fields of agriculture and the building materials industry, with investments of nearly two billion Qatari riyals.
