Oman-Qatar Joint Committee discusses cooperation

The Oman-Qatar Joint Committee held its 24th meeting in Muscat.

The Committee reviewed aspects of cooperation in the financial and economic fields, developments in investment projects, and discussed avenues for enhancing bilateral cooperation in several sectors, including health, education, labour, housing, transport, agriculture, fisheries, and media cooperation.

The Omani delegation was headed by Sultan Al Habsi, Minister of Finance of the Sultanate of Oman, and the Qatari delegation was headed by Ali bin Ahmed Al Kuwari, Minister of Finance of the State of Qatar.

Oman's Finance Minister noted in his speech that the Joint Committee represents an outstanding model of cooperation at a time when the need to enhance joint action is increasing to achieve progress, prosperity, and sustainable economic and social development between the two brotherly peoples.

He commended the efforts made by committee members from both countries, noting the progress made in joint investment projects. He called for further efforts toward the complementarity of Omani-Qatari financial and economic visions, in line with the visions of the two wise leaderships.

The Qatari Minister of Finance affirmed the importance of these meetings and their role in advancing bilateral relations. He said that the Joint Committee meetings underscore the depth of relations between the two countries and form an important platform for enhancing economic and investment cooperation and developing practical partnerships that support the process of GCC integration and open wider horizons for sustainable development.

On the sidelines of the meeting, the Ministry of Finance and the Qatar Development Bank (QDB) signed a Framework Cooperation Memorandum aimed at enhancing strategic cooperation. This included providing credit facilities to support the implementation of joint projects and stimulating bilateral cooperation between Oman and Qatar in the field of finance and trade.

This aims to achieve economic integration and open new prospects for investment between the public and private sectors in both countries.

The Memorandum was signed for Oman by Sultan bin Salim Al Habsi, Minister of Finance, and for Qatar by Ali bin Ahmed Al Kuwari, Minister of Finance and Chairman of the Board of Directors of QDB.

A Memorandum of Understanding (MoU) was also signed between the Ministry of Commerce, Industry, and Investment Promotion (MCIIP) and QDB in the field of developing trade and export promotion. This aims to  support exporters from both, proposing policies and promotional plans to diversify trade in cooperation with government and private sectors. The MoU also seeks to develop the commercial database and build strategic alliances that contribute to boosting trade and diversifying import policies.

The MoU was signed for Oman by Ibtisam bint Ahmed Al Farouji, Undersecretary for Investment Promotion of the MCIIP, and for Qatar by Abdulrahman bin Hisham Al Suwaidi, CEO of QDB.

The Oman-Qatar Committee was established in 1995 to enhance joint working and continuous communication between the two countries by reviewing cooperation, identifying possible opportunities, and establishing investment projects that serve mutual interests.