Oman and Uzbekistan discuss expanding their economic partnership
Sultanete of Oman and the Republic of Uzbekistan discussed today ways to expand the prospects for economic, trade and investment cooperation between the two countries, and to push towards the establishment of joint industrial projects, revitalize trade and develop logistics corridors, in order to contribute to turning available opportunities into viable partnerships and projects.
This came during the reception of His Excellency Anwar bin Hilal Al Jabri, Minister of Commerce, Industry and Investment Promotion, at his office this morning, for His Excellency Laziz Kudratov, Minister of Investment, Industry and Trade of the Republic of Uzbekistan.
The two sides discussed ways to revitalize trade between the two countries, expand the base of exchanged products, and take advantage of available opportunities to raise the level of trade cooperation, in addition to facilitating access for Omani and Uzbek products to the two markets, linking exporters with buyers and importers, and addressing requirements related to specifications, certificates and customs procedures.
The meeting also addressed the proposed preferential trade agreement between the two countries, ways to accelerate technical work related to the scope of goods, tariffs and rules of origin, as well as discussing the modernization of the agreement on the promotion and protection of mutual investments, in order to enhance the supportive environment for investors and expand the areas of economic partnership between the two countries.
Industrial cooperation was one of the main topics of discussion, as the two sides explored opportunities to develop joint projects in manufacturing industries, emphasizing the importance of strengthening direct communication between companies and studying the size of demand, markets, and required investments, in order to identify economically viable and implementable projects.
The two sides also discussed enhancing logistical and air connectivity and utilizing the potential provided by Omani ports in developing shipping routes and the movement of goods between the two countries, in addition to building on the direct air link between Muscat and Tashkent, which supports the growth of trade and investment activities and expands opportunities for products to reach target markets.
The meeting touched on expanding the private sector’s participation in the economic partnership, exploring export-oriented production opportunities in the economic and free zones of the Sultanate of Oman, supporting coordination between private sector institutions in the two countries to hold a business council and a business forum that present specific investment opportunities and connect companies and investors with potential partners from both countries, working to develop practical economic, trade and investment outputs that support the course of bilateral relations, preparing for the sixth session of the Joint Governmental Committee in Muscat, and enhancing the private sector’s participation in implementing priority projects and opportunities.
Both sides emphasized the importance of building on the development of Omani-Uzbek relations and moving economic cooperation to a more implementation- and results-oriented stage by identifying priority projects and setting clear paths for their follow-up, which will enhance trade and investment flows and open up broader areas for industrial and logistical partnerships between the two countries.
The meeting was attended by His Excellency Engineer Ghalib bin Saeed Al Maamari, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Trade and Industry, His Excellency Abdul Salam Khatimov, Ambassador of the Republic of Uzbekistan to the Sultanate of Oman, and a number of officials from both sides.