The Governor of the General Authority for Foreign Trade, Abdul Rahman bin Ahmed Al-Harbi, headed a Saudi delegation from the public and private sectors to visit the Sultanate of Oman, with the aim of consolidating the mutual economic and trade relations between the two countries, and he met with a number of ministers and senior officials.
This visit comes within the framework of the keenness of the leadership of the two countries to deepen the bonds of brotherly relations, and to achieve prosperity and progress for the two brotherly countries and peoples.
During this visit, the Governor of the General Authority for Foreign Trade met with the Minister of Foreign Affairs of the Sultanate of Oman, Mr. Badr bin Hamad Al Busaidi, Minister of Commerce, Industry and Investment Promotion Qais bin Muhammad Al-Yousef, Secretary General of the Ministry of Finance Nasser bin Khamis Al-Jashmi, CEO of the Oman Chamber of Commerce and Industry, Dr. Al-Fadl bin Abbas Al-Hinai, and head of the Omani side in the Saudi-Omani Business Council Ali bin Hamad Kalbani.
The meetings dealt with enhancing trade and investment exchange and enabling cooperation between the private sector in the two countries to benefit from commercial investment opportunities, in light of the Saudi Arabian Kingdom's Vision 2030, and Omani's Vision 2040.
On the other hand, Al-Harbi participated in the annual Gulf Forum for Entrepreneurs in its first edition, held during the period 8-9 November 2021, and met with a group of male and female entrepreneurs who own quality projects.
The Kingdom of Saudi Arabia participated in the forum through two events. The first is by presenting two working papers that highlight the areas of financing entrepreneurs and investment opportunities for entrepreneurs in the Gulf Cooperation Council countries; In the second event, a number of entrepreneurs, owners of projects and start-ups, participated in presenting their ideas and pioneering projects to investors.
In addition, 10 Saudi franchisors participated in the Franchise Exhibition, in order to showcase the advantages and investment opportunities offered by these entities to those wishing to obtain a commercial franchise in the Gulf Cooperation Council countries.
The forum aims to activate cooperation between those responsible for developing the small and medium sized enterprises sector in the Gulf Cooperation Council countries, encourage small and medium sized enterprises and entrepreneurs to invest in the Gulf countries, present the experiences and success stories of entrepreneurs, and identify available financing opportunities.
Trade and investment relations between the Kingdom of Saudi Arabia and Oman are witnessing a remarkable development based on the keenness of the leadership of the two countries, and the visions of the Kingdom 2030 and Oman 2040, which constitute a common denominator for strengthening relations and benefiting from trade and investment opportunities. The volume of trading between the two countries in the past four years amounted to 41 billion Saudi riyals, and there are 105 Omani brands registered in the Kingdom of Saudi Arabia, while the capital of Omani companies licensed in the Kingdom is amounted to 318 billion Saudi riyals.