Egypt and Oman are set to sign a double taxation avoidance agreement in Cairo this month, according to a statement on May 13th.

The agreement aims to boost bilateral economic relations and tax cooperation.

This came during a meeting between the Egyptian Minister of Finance Mohamed Maait and his Omani counterpart Sultan bin Salim Al Habsi on the sidelines of the 17th IsDB Global Forum on Islamic Finance held in Saudi Arabia under the theme ‘Disruptive Solutions for a Resilient Economy’.

Both sides have also agreed on bolstering cooperation in the fields of financial policies and social protection to achieve the economic and development goals as well as dampening the impact of the global economic shocks on the most vulnerable groups.

Maait called on Omani investors and firms interested in expanding their investments in Egypt to benefit from the recent actions taken by the country to scale up production and exports across various fields, including the golden license, State Ownership Policy Document, and the initial offering (IPO) program.

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