Omani Minister to Asharq Al-Awsat: Time to Revive Transportation of Saudi Oil to Arabian Sea

Omani Minister to Asharq Al-Awsat: Time to Revive Transportation of Saudi Oil to Arabian Sea

Oman’s Economy Minister Said bin Mohammed al Saqri said the economic cooperation between Saudi Arabia and the Sultanate of Oman has increased since the establishment of the Saudi-Omani Coordination Council in July.

“The council aims to develop a common vision for deepening and sustaining relations between the two countries, in addition to raising the level of cooperation in political, economic, security, military, and human development fields,” al Saqri told Asharq Al-Awsat in an exclusive interview.

The minister emphasized that the Council is also tasked with developing a framework for joint agreements and projects between Oman and Saudi Arabia as well as providing facilities to investors.

Besides promoting investment, the Council follows up on the “implementation and facilitation of initiatives and projects between the Kingdom and the Sultanate.”

Al Saqri noted that the top three sectors in which Saudi investment is concentrated in the Sultanate are trade, construction, and services.

The upturn in economic cooperation stems from the common factors shared between the national visions launched by the Kingdom and the Sultanate.

Each of the Oman Vision 2040 and Kingdom’s Vision 2030 seek to diversify the economy, reduce dependence on oil and create conditions for the private sector and investors to have a more significant role in