Oman and Switzerland discuss enhancing economic, trade and scientific cooperation

The Sultanate of Oman and the Swiss Confederation discussed strengthening relations and exploring new areas of economic, trade and investment cooperation during a meeting between Qais bin Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion, and Guy Parmelin, Federal Councillor for the Federal Department of Economic Affairs, Education and Research (EAER) and Vice President of the Swiss Confederation.

They reviewed the historic ties between Oman and Switzerland and discussed the possibility of opening a Swiss Business Hub in Oman to facilitate the entry of Swiss products and enhance direct trade exchange.

The Minister of Commerce, Industry and Investment Promotion affirmed Oman’s readiness to welcome expanded Swiss investments, particularly in promising sectors such as pharmaceuticals and technology. He underlined the importance of knowledge transfer and developing Omani talent within these investments. He also stressed that Oman continues to strengthen its business environment and achieve the goals of Oman Vision 2040, further consolidating its position as an attractive investment destination.

During the meeting, a visual presentation on Invest Oman highlighted the key investment advantages of the Sultanate of Oman, focusing on priority sectors such as mining, manufacturing, tourism, logistics and food security. The presentation also outlined the main incentives and facilities offered to investors, as well as the opportunities available within the framework of Oman Vision 2040.

In a separate meeting with the Swiss Federal Councillor, Dr Rahma bint Ibrahim Al-Mahrooqi, Minister of Higher Education Research, and Innovation, discussed ways to strengthen research cooperation through partnerships between research institutions in both countries and the exchange of expertise and knowledge. The talks also addressed the importance of student and academic exchange, which plays a vital role in opening new horizons for Omani and Swiss students and researchers.

The meeting highlighted the importance of enhancing the quality of higher education through exchanging expertise in quality assurance systems and academic accreditation. The discussions also touched on areas of energy and innovation, particularly renewable energy and modern technologies.

The talks addressed ways of sharing expertise in the knowledge-based economy, and the role of innovation and related institutions in supporting the national economy. They also emphasised the importance of developing national skills through professional certifications and apprenticeships, thereby raising the efficiency of human resources.

In this context, there was an agreement on the importance of formalising and strengthening cooperation by signing a Memorandum of Understanding in education, scientific research and innovation.

In another meeting, Dr Said Mohammed Al Saqri, Minister of Economy, discussed with the visiting Federal Councillor prospects for economic cooperation between the two friendly countries, as well as opportunities in renewable energy, green hydrogen, manufacturing, logistics and education, serving common interests and enhancing their standing within the global trade system.

The meeting presented a valuable opportunity to affirm the shared vision in three key areas aligned with partnership priorities:

• Renewable energy and hydrogen, where Oman can position itself as a regional hub for green projects.
• Logistics and supply chains, showcasing Oman’s strategic location, the Port of Duqm and its Free Zones as alternative gateways for Swiss companies.
• Finance and investment, through leveraging the tools of the Oman Investment Authority, integrating with Swiss financial institutions, and attracting Swiss investments to Oman.