Saudi Arabia and Oman are stepping up their game to enhance their trade and economic partnership. On Wednesday, officials from both nations met to discuss opportunities that could boost their already significant trade volume, which has reached SR 36.8 billion. With Saudi exports to Oman amounting to SR 22.5 billion, there’s a lot on the table. These talks mark a significant move towards fostering greater economic collaboration between the two neighbors.
High-Level Meetings Signal Commitment
Omani Minister of Economy Dr. Said Al-Saqri and his delegation visited the Kingdom, and it was quite the gathering.
- Hosts: Saudi Minister of Commerce Dr. Majed Al-Qasabi led the Saudi side.
- Agenda: They delved into various economic topics, especially those the Gulf Cooperation Council (GCC) is working on.
- Focus: Increasing intra-regional and external trade was at the forefront.
It’s clear both countries are serious about taking their economic relationship to the next level.
Vision 2030: A Shared Path Forward
Dr. Al-Qasabi didn’t hold back on emphasizing the impact of Saudi Vision 2030.
He mentioned:
- The economic reforms are under the guidance of Crown Prince Mohammed bin Salman.
- These reforms aim to implement structural changes in economic sectors.
- Enhancing sustainable economic growth is a key goal.
“These initiatives align with our significant development potential and the opportunities available in the Kingdom,” he pointed out.
Boosting Competitiveness and Business Environment
So, what’s the big deal about these reforms?
Dr. Al-Qasabi highlighted that:
- The business environment’s attractiveness has skyrocketed.
- Saudi Arabia’s global competitiveness has seen a notable increase.
- Positive performances in reputable global reports and indicators have been achieved.
He also touched on the ongoing efforts to develop and improve the business environment, mentioning the role of the National Competitiveness Center (NCC) in collaborating with government entities.
