Oman and UK Explore Means of Enhancing Investment Cooperation

Muscat, June 13, 2023 – The Minister of Commerce, Industry and Investment Promotion, HE Qais Mohammed Al Yousef, and the Minister of State for International Trade in the United Kingdom, Nigel Huddleston, met today to discuss ways to enhance investment cooperation between the two countries.

The meeting, which was held via videoconference, focused on the progress made in negotiations on the UK-GCC Free Trade Agreement, as well as opportunities for further investment in Oman.

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Al Yousef and Huddleston also discussed ways to encourage direct investment in accordance with the laws and regulations governing business in the two friendly countries.

The UK is the largest foreign direct investor in Oman, with investments in a wide range of sectors, including oil and gas, manufacturing, and tourism.

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Al Yousef expressed his hope that the meeting would lead to further investment cooperation between Oman and the UK.

“We are committed to working with our partners in the UK to create a more favorable environment for investment,” he said. “We believe that there are many opportunities for businesses from both countries to work together and grow.”

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Huddleston said that the UK was committed to strengthening its economic ties with Oman.

“The UK is a natural partner for Oman,” he said. “We have a shared history and culture, and we are both committed to free trade and open markets. I am confident that our two countries can work together to achieve great things.”

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The meeting concluded with a commitment by both sides to continue working together to enhance investment cooperation.