UAE and Oman on Monday (October 18) discussed the importance of cooperation and investment in the industrial sector, advanced technology and quality infrastructure.

 

An Emirati delegation led by Dr Sultan Ahmed Al Jaber, the UAE’s Minister of Industry and Advanced Technology (MoIAT), met with Qais bin Mohammed Al Yousef, Oman's Minister of Commerce, Industry and Investment Promotion in the Sultanate, and a number of officials in related sectors.

 

The visit explored ways to broaden cooperation between the two countries at both governmental and private-sector levels, especially in the areas of industry, advanced technology and quality infrastructure, a statement said.

 

Dr Al Jaber conveyed the greetings of the UAE leadership to the leaders of the Sultanate, stressing the deep and abiding relations between the two countries, which are based on close historical ties and the development of common interests. Bilateral ties between the two were first laid down by the UAE’s founding father, the late Sheikh Zayed bin Sultan Al Nahyan, and the late Sultan Qaboos bin Said.

 

Dr Al Jaber said the continued strength of the bilateral relations between the countries is a source of encouragement and pride, adding that he is looking forward to further enhancing cooperation in the areas of industry and advanced technology. He noted that the next steps will focus on creating investment opportunities and facilitating measures for investors.

 

Dr. Al Jaber said: “Thanks to the vision and directives of our wise leadership, the UAE is moving rapidly to develop the industrial and advanced technology sectors in the country, investing in research and development and integrating 4IR concepts to achieve the key goals of boosting the national economy and achieving sustainable development.”

 

The delegation was welcomed by Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, Dr Saleh bin Saeed Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, and a number of officials in the public and private sectors. 

 

For his part, Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, underscored the importance of developing bilateral relations with the UAE, particularly in industrial sectors. 

 

Qais bin Mohammed Al Yousef, pointed out that the visit of the Emirati delegation to the Sultanate reflects a determination in both countries to exchange views on expanding private-sector partnerships, investment opportunities and trade volumes between the UAE and Oman. 

 

The visit included meetings with representatives from the Oman Investment Authority, the Public Authority for Economic and Free Zones in the Sultanate, the Public Establishment for Industrial Estates (Madayn), and Oman’s Chamber of Commerce and Industry.

 

Dr Al Jaber was accompanied by Omar Suwaina Al Suwaidi, Undersecretary of MoIAT, Mohammed Al Shamsi, Group CEO of Abu Dhabi Ports, Khaled Salmeen, Executive Director of Adnoc’s Downstream, Industry, Marketing & Trading Directorate, Jassim Thabet, Taqa’s Group CEO, and a number of officials from MoIAT, Abu Dhabi Holding, and Mubadala Investment Company. 

 

The Sultanate of Oman is among the top 10 trading partners of the UAE. The trade exchange volume between 2017 and 2020 totaled AED172 billion, which represents about 2.7 per cent of UAE’s total foreign trade during this period, with a compound annual growth rate of about 5.7 per cent – an average of AED43 billion per annum. --TradeArabia News Service