Oman and Saudi Chambers Discuss Strategies to Boost Trade Cooperation.

Riyadh: Oman Chamber of Commerce and Industry and Riyadh Chamber of the Kingdom of Saudi Arabia (KSA) today discussed ways to enhance trade and economic cooperation between the two countries. This took place during a meeting held at the Riyadh Chamber headquarters in the Kingdom of Saudi Arabia. Mohammed Abdullah Al Murshid, a member of the Riyadh Chamber's Board of Directors, stated that this visit between the Kingdom of Saudi Arabia and the Sultanate of Oman contributes to strengthening economic and trade relations between the two countries, as well as achieving greater cooperation and growth. According to Oman News Agency, Mohammed Abdullah Al Murshid emphasized the importance of investment partnerships that benefit everyone and noted that this visit allows for the exploration of new opportunities and the exchange of experiences and best practices. Eng. Said Ali Al Abri, Chairman of Oman Chamber of Commerce and Industry branch in North Al Batinah and head of the delegation, delivered a speech stating that this visit embodies the depth of brotherly relations between the two countries and highlights the importance of continuous cooperation and communication. He expressed the desire to strengthen ties and exchange experiences for the benefit of both nations, noting that the visit aims to explore commercial and investment opportunities between the Sultanate of Oman and the Kingdom of Saudi Arabia, in addition to presenting available investment opportunities. He stated that during this visit, the delegation aims to find promising opportunities in the KSA, enhance trade and economic cooperation, and increase the volume of exports between the two countries, as well as exchange expertise in various economic fields and build bridges of cooperation. This visit comes as part of efforts to enhance economic, trade, and investment relations between the two countries. Al Abri also mentioned that the trade exchange between the two countries, as of the end of June 2024, reached approximately RO 1.014 billion. He added that t he Empty Quarter Road, which connects the two countries, undertakes a significant role in enhancing cooperation prospects in various fields. Further, Mohammed Ramadan, Director of Partners Management at the Saudi Ministry of Investment, presented an overview of the "Investor Voice" initiative, which aims to convey the priorities and challenges of investors, serving as a link between investors and the Ministry of Investment and relevant authorities. He explained that the goals of this initiative include enhancing relations with investors by understanding their priorities and challenges, contributing to improving investor participation, and fostering communication between local and foreign investors while helping to avoid future challenges and obstacles before they arise.