More than 350 joint Qatario-Omani companies operating in the local market

Doha: Trade between Qatar and Oman has experienced a big jump in recent years. It reached over 6.8 billion QR in 2019.

The number of Qatari-Omani joint ventures operating in the Qatari market is estimated at more than 350 companies, in various sectors including services, energy, industry and others, while most Qatari investments in the Sultanate are made through participations, alliances and partnerships in more than 200 Omani companies, in different sectors.

According to Omani media reports, Qatari investments in the Omani market at the end of 2020 amounted to around 388,600,000 OMR, an increase from the previous year, during which Qatari investments in the Sultanate had reaches about 355,900,000 OMR, in addition to the growth in trade 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.

Emir HH Sheikh Tamim bin Hamad Al Thani and his Sultan of Oman are expected to discuss ways to support and strengthen the well-established relations between the two countries and the prospects for their development, in order to realize the interests and aspirations of both brotherly peoples, in addition to discussing the latest developments on the regional and international scene.

The two countries are bound by a set of agreements and memoranda of understanding on cooperation in the economic, commercial, cultural, diplomatic, scientific and tourism fields, as well as by the Omani-Qatari Joint Committee, which has until presently held twenty meetings since its formation. . There is the Qatari-Omani Business Council, which meets regularly, as well as the mutual trade fairs.

The trade and economic activities between the two countries reflect a sincere desire of the Qatari and Omani business community to raise the economic relations between the two parties from the level of distinguished fraternal relations to the level of strategic relations and economic partnerships which translate aspirations. commons and aspirations in giant economic projects and entities that benefit the national economy in both countries.

Economic cooperation between Qatar and Oman has seen remarkable growth in recent times in the sectors of agriculture, livestock, transport, communications, energy, tourism, education. , construction and banking services. In addition to the area of ​​private sector investment, which has registered a great development, as there are a number of joint projects in the fields of agriculture and construction materials industry, with investments of almost two billion Qatari riyals.