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MUSCAT: The Sultanate of Oman and the Arab Republic of Egypt proceed selling their distinguished relations in varied political, financial and cultural areas. Additionally they again all issues that serve the joint pursuits of their peoples.
The official go to of His Majesty Sultan Haitham bin Tarik to Egypt on Sunday carries an awesome significance, as His Majesty’s talks in the course of the go to with President Abdul Fattah el Sisi can have a constructive affect on the bilateral relations between the 2 international locations.
It’s price mentioning that Oman and Egypt signed quite a few MoUs and govt programmes in the course of the go to of the Egyptian President to Oman in June 2022.
Statistics issued by the Nationwide Centre for Statistics and Data point out that the amount of commerce change between Oman and Egypt elevated in 2022, amounting to roughly RO 393.628 million, in comparison with RO 217.742 million in 2021.
The worth of Omani exports to Egypt elevated from RO 157.515 million in 2021 to RO 298.077 million in 2022, whereas the worth of Omani imports from Egypt amounted to RO 95.551 million in 2022, in comparison with RO 60.227 million in 2021. Statistics present that the steadiness of commerce between the 2 international locations in 2022 was in favour of Oman, amounting to RO 202.526 million.
Abdullah bin Nasssir al Rahbi, Ambassador of Oman to Egypt and its Everlasting Consultant to the Arab League
Abdullah bin Nasssir al Rahbi, Ambassador of Oman to Egypt and its Everlasting Consultant to the Arab League, stated that the official of His Majesty the Sultan to Egypt comes after lower than a 12 months from the Egyptian President’s go to to Oman, which displays the eye that Oman’s authorities attaches to Egypt.
DIPLOMATIC RELATIONS
In an announcement to Oman Information Company (ONA), Al Rahbi identified that Oman and Egypt celebrated final November, the fiftieth anniversary of the institution of diplomatic relations between them. This era, the ambassador defined, witnessed occasions that underlined the depth and power of this relation, most significantly Oman’s assist for Egypt following the Arab boycott after it signed the Camp David Accords.
He affirmed that the 2 international locations share widespread ideas, together with non-interference within the affairs of others, paying consideration for the regional safety and stability and taking part in an necessary position on this facet.
Al Rahbi affirmed that funding indicators between Oman and Egypt started to enhance over the previous three years, stressing the necessity for cooperation within the financial subject to satisfy the historic relations between the 2 international locations.
The ambassador known as upon Egyptian traders to utilise the funding alternatives out there in Oman, significantly within the financial zones and ports.
He identified that quite a few Egyptian traders have began to spend money on varied fields, such because the manufacture of fertilizers and plastics within the free zones, along with the tourism space. There are additionally talks with some traders within the areas of meals safety, he added.
The ambassador additionally spoke of the cultural cooperation between Oman and Egypt, pointing to the Egyptian academics who contributed to the tutorial march in Oman because the daybreak of the blessed renaissance. He additionally touched on the cooperation between Oman and Egypt in areas of media and better training.
Khalid Mohammed Radi, Ambassador of Egypt to Oman
HISTORIC VISIT
On his flip, Khalid Mohammed Radi, Ambassador of Egypt to Oman, stated that the upcoming historic first go to of His Majesty Sultan Haitham bin Tarik to Egypt and his assembly with President Abdul Fattah el Sisi will advance the deep-rooted relations between the 2 international locations in the direction of broader horizons.
The ambassador stated in an announcement to ONA that the go to will overview varied bilateral issues and worldwide problems with widespread concern. The go to, he affirmed, represents a qualitative shift within the march of Omani-Egyptian relations.
The Egyptian ambassador added that His Majesty the Sultan and the Egyptian President will talk about technique of selling relations on the political, financial, industrial, cultural and social ranges. The assembly may even cater to Omani-Egyptian coordination on varied regional and worldwide points. He added that the area wants extra coordination and cooperation to insure peace, safety and stability.
He identified that the earlier go to of the Egyptian President to Oman marked a turning level for the 2 international locations’ relations. The go to included the signing of a number of agreements overlaying varied areas, such maritime navigation, funding, commerce, business, combating monopoly, offering the means without cost competitors, industrial improvement, funding promotion, the setting, vocational and technical coaching and better training.
MUTUAL COOPERATION
He additionally stated that signing these agreements has set the inspiration to allow intensive mutual cooperation. This, he stated, is mirrored on the growing quantity of commerce change between the 2 international locations as enterprise and financial relations between Oman and Egypt noticed a significant improvement in 2022.
Ambassador Radi indicated that the amount of intra-trade between Oman and Egypt elevated by 52 per cent in comparison with 2021. The amount of commerce change reached 1.09 billion Egyptian kilos. Egyptian exports to Oman stood at $433 million whereas Egyptian imports from Oman stand at $760 million. The figures, he affirmed, replicate the keenness of the 2 international locations to develop mutual relations.
He stated that exports from Oman to Egypt embody steel ores, fish, aluminum and its associated industries and natural chemical merchandise. In the meantime, Oman imports from Egypt some agricultural merchandise, furnishings, electrical home equipment and dairy merchandise, amongst different merchandise.
In response to the directives of the 2 international locations’ leaderships, he stated, officers from each international locations are working collectively to develop relations in varied fields. This transfer is mirrored on financial, industrial and funding fields. He added that the amount of Egyptian investments in Oman is near $2 billion.
He stated that Oman’s investment-encouraging and constructive milieu, along with its laws and services supplied for international traders, all encourage traders to come back to Oman.
FOREIGN INVESTORS
The ambassador pressured that the upgrades in Oman’s credit standing is a sign of the efforts exerted below the Royal directives of His Majesty, which made Oman an oasis of safety and stability. The Sultanate of Oman, he underscored, is a hub for international traders, together with Egyptians.
Additional, Ambassador Radi famous that the variety of Egyptian firms in Oman is on a steady rise, reaching close to 1,900 firms. The quantity echoes the advance relations between the 2 international locations.
The go to of His Majesty the Sultan, he additional stated, is a message which additional will increase motivation to reinforce relations on varied ranges, particularly in financial, industrial and cultural spheres.
The ambassador described the mutual cultural relations as immense and various. These relations, he added, cowl a spectrum of fields, comparable to arts, literature, translation, cinema and the theatre.
He reiterated that the 2 international locations share comparable political opinions on varied regional and worldwide points. This stems from shared values which can be primarily based on establishing ideas of safety, peace and adhering to the worldwide regulation.
The Egyptian ambassador lauded the Sultanate of Oman’s distinguished diplomacy in coping with varied points within the area. He identified that Oman spares no effort in supporting peace efforts in varied elements of the area.
Khalid Mohammed Radi highlighted the care and a focus acquired by the Egyptian group in Oman from the federal government and the folks. He stated that the Egyptian group is collaborating in varied improvement programmes in Oman and contributes positively to the nation’s improvement in varied fields.
On his flip, Dr Salim Sleem al Junaibi, Chairman of the Board of Administrators of Oman Chamber of Commerce and Trade (OCCI) in Al Wusta, Member of the Omani-Egyptian Enterprise Council, stated that the go to of President Abel Fattah El Sisi to Oman in June 2022 contributed to strengthening bilateral cooperation in varied enterprise, financial and funding fields.
Al Junaibi instructed ONA that the variety of Egyptian firms investing in Oman throughout 2020 stood at 744 with a complete capital of $1.856 billion. Omani investments in Egypt stood at $68.8 million in the course of the monetary 12 months 2020/2021 in comparison with $15.8 million in the course of the monetary 12 months 2019/2020, he added.
Furthermore, Dr Ahmed Ridha, Deputy Head of the Egyptian facet within the Omani-Egyptian Enterprise Council stated that the council is working in the direction of boosting bilateral relations and augmenting commerce change and investments between the non-public sectors of the 2 international locations.
He added that His Majesty Sultan Haitham bin Tarik and President Abdul Fattah el Sisi directed throughout their assembly in 2022 to check the institution of a joint funding fund to spend money on possible initiatives in varied very important sectors.
Dr Ahmed Ridha stated that the proposed capital for the fund stands at $100 million. Each the Omani and Egyptian governments will present $40 million, whereas the remaining $20 million will likely be supplied by businesspeople from each international locations. – ONA
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