Oman-Saudi aspired relation to focus on mutual investments

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Saudi king welcomes Sultan of Oman (July 11, 2021) Photo source: Oman News Agency
12 July 2021

MUSCAT (WAF)- The Sultanate of Oman and the Kingdom of Saudi Arabia have agreed to launch joint initiatives in investments in Duqm, the energy sector, and food security, according to the joint statement issued on the occasion of the conclusion of Sultan Haitham bin Tariq’s visit to Saudi Arabia today.

In addition, the statement – broadcast by the Oman News Agency – stated that the two sides agreed to “strengthen cooperation on the implementation of the circular carbon economy approach approved by the G20” as a framework to address the challenges arising from greenhouse gas emissions and focus on adopting renewable energy sources.

The two countries have also agreed to study mutual investment opportunities in information technology, financial technology, innovation, energy, renewable energy, petrochemicals, manufacturing, health, pharmaceutical industries, real estate development, tourism, supply chains and logistical partnerships. And to expedite the work to open the land road and to operate the border port between the two countries.

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On the security front, Oman and Saudi Arabia have expressed mutual agreement on “cooperating” and “dealing seriously and effectively” with the Iranian nuclear and missile file with “all its components and repercussions” to achieve regional security and stability and to avoid any destabilising activities.

It is noteworthy that the state visit of the Sultan of Oman to Saudi Arabia was his first official visit since assuming power in January 2020. And a memorandum of understanding to establish an “Omani-Saudi Coordination Council” headed by the two countries’ foreign ministers was signed yesterday.