DUBAI: Sultan Haitham bin Tarik of Oman has commenced his first official visit to Egypt, aiming to reinforce the longstanding ties between the two nations. The visit comes as both countries seek to enhance their economic, commercial, and investment relationships, as well as increase their trade volume. Sultan Haitham is accompanied by a high-ranking delegation, particularly from the economic sector.
During a press conference in Cairo, Oman’s Ambassador to Egypt, Abdullah bin Nasser Al Rahbi, highlighted the significance of the visit and the formation of the Omani-Egyptian Business Forum.
The forum aims to showcase the investment opportunities available in Oman, highlighting the attractive legislation, regulations, and infrastructure that encourage investments. Specific sectors of interest include renewable energy and green hydrogen.
The visit is expected to witness the signing of several agreements and memoranda of understanding, with a focus on bolstering the economic sector. These agreements will build upon the existing framework established during President Abdel Fattah Al Sisi’s visit to Oman in June 2022, which encompassed memorandums, agreements, executive programs, and cooperation letters.
Since assuming power in January 2020, this visit marks Sultan Haitham’s first official visit to Egypt, further solidifying the already deep-rooted ties between the two nations. The visit holds particular significance following President Al Sisi’s visit to Muscat last year, which led to strengthened relations and the signing of numerous agreements and executive programs.
Collaboration between Oman and Egypt across various spheres
Oman and Egypt have been collaborating across various spheres, including politics, economics, social affairs, culture, and security. The continuous and open relationship between the two countries is expected to witness comprehensive growth in the future.
In 2022, the National Centre for Statistics and Information reported a substantial increase in trade exchange between Oman and Egypt, reaching RO393.628 million, a significant rise from RO217.742 million in 2021. Omani exports to Egypt also witnessed a substantial increase, rising from RO157.515 million in 2021 to RO298.077 million in 2022, resulting in a trade balance favoring Oman at RO202.526 million.
Regular high-level meetings and continuous contact between Sultan Haitham and President Al Sisi demonstrate the countries’ commitment to exchanging views on common matters. The two nations share diplomatic visions, particularly in combatting terrorism and upholding international peace and security.
The expansion of Omani-Egyptian relations follows in the footsteps of the late Sultan Qaboos bin Said and past Egyptian presidents, building upon the principles and foundations laid by their predecessors. This prosperous journey has resulted in agreements and joint ventures across diverse fields.
Sultan Haitham’s visit to Egypt is expected to further strengthen bilateral relations and pave the way for a prosperous future for both nations. It also presents an opportunity to explore new avenues of cooperation, particularly in the areas of business and investment.
