RIYADH, SAUDI ARABIA – Oman Minister of Commerce along with a delegation met Saudi Arabia Minister of Industry where they discussed industrial cooperation between the two countries.
Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef received in his office Omani Minister of Commerce, Industry and Investment Promotion, Qais bin Mohammed Al-Yousef and his accompanying delegation, where the two sides discussed the Kingdom’s vision 2030 and Oman 2040.
The two sides spoke on strengthening aspects of industrial cooperation and exploiting opportunities.
The meeting deliberated on the way Oman may benefit from Saudi’s experience in managing and operating industrial cities and enhancing the competitiveness of the national industry.
The two sides discussed Made in Saudi program and the financing aspects provided through the Saudi Industrial Development Fund and the Saudi Export-Import Bank (Saudi EXIM).
Saudi non-oil exports to Oman until the end of June 2022 amounted to over SR2 billion, represented in several economic activities, including food products, petrochemicals, building materials, heavy machinery and electronics.
The volume of Saudi imports from Oman in 2022 amounted to about SR7.2 billion, which include minerals, building materials, and food products, in addition to vehicles, spare parts and petrochemical products.