As part of His Majesty Sultan Haitham bin Tarik’s visit to the Kingdom of Saudi Arabia, ministers from both sides explored ways of enhancing cooperation in commercial and investment fields where the two sides identified broad lines of cooperation to boost their private sectors.

Abdulsalam bin Mohammed al Murshidi, Chairman of Oman Investment Authority (OIA), held a meeting with Khalid al Faleh, Saudi Minister of Investment, during which they identified areas of cooperation with a view to promote their respective private sectors. It also touched on projects capable of consolidating economic integration.

Murshidi told ONA that it was agreed to form a joint action team between OIA and its Saudi counterpart. The team will be entrusted to conduct preliminary studies for the envisaged projects. He pointed out that the meeting was an opportunity to promote the advantages of the economic zones and ports of the sultanate, which he said was projected not only as a gateway to the east, but also as a gateway for Saudi products targeting East Africa.

Said bin Hamoud al Ma'awali, Minister of Transport, Communications and Information Technology, also held a meeting with his Saudi counterpart Saleh bin Nasser al Jasser, Minister of Transport and Logistics.

The meeting discussed means of enhancing cooperation in the logistics sector through land transport, air transport, railways and the carriageway that will connect the two countries - the Ramlat Khaliya highway. “The meeting explored ways of harnessing Omani-Saudi experience in the field of electronic trade,” Ma'awali said.

On his part, Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, met Dr Majid bin Abdullah al Qasabi, Saudi Minister of Commerce, whenthey discussed cooperation in commercial and investment fields and envisaged working plans towards this goal.

“The meeting underscored the importance of consolidating co-mmercial exchange and the flow of business activities between the two countries and agreed to form a working team to undertake this mission,” Yousef said.

After separate meetings, the Omani and Saudi ministers held a roundtable meeting focused on economic feasibility projects. It was agreed that OIA and the Saudi Ministry of Investment will conduct feasibility studies for joint economic projects.

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