Omani Turkish Joint Committee reviews ways to enhance trade

The Omani Turkish Joint Committee reviewed ways to enhance bilateral cooperation between the two friendly countries across various fields during its thirteenth session, held in Ankara, the Turkish capital. The discussions aimed to identify practical priorities that can be followed up and translated into joint programmes and projects across a number of economic and development sectors of mutual interest.

The delegation for Oman was chaired by Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion and for Türkiye by Mehmet Simsek, Minister of Treasury and Finance of the Republic of Türkiye.

The meeting reviewed several key areas, most notably trade and investment, the status of bilateral trade and ways to diversify traded goods and increase trade volume between the two countries. It also discussed activating the role of business councils, forums and exhibitions and advancing joint investment opportunities, including e-commerce solutions, joint platforms and the facilitation of shipping and re-export.

The Committee also discussed opportunities for cooperation in industry and industrial zones. This included joint manufacturing, the transfer and localisation of knowledge and technology and linking innovation with manufacturing. Cooperation in industrial zones and special and free economic zones was also addressed.

In the field of standards, metrology and accreditation, the Committee considered cooperation in training and the exchange of expertise in conformity assessment and accreditation, digital transformation in standardisation activities and cooperation in metrology.

It also discussed cooperation in financial and banking sectors, small and medium enterprises, transport and logistics, energy and mining. This took place within programmes of technical cooperation, exchange of expertise, development of logistics corridors and supply chain connectivity.

The Committee’s agenda further included tourism, culture and sports, education and higher education, scientific research and innovation, as well as health and environment, urban planning, media and capacity building.

The Committee’s proceedings included the signing of a Memorandum of Understanding (MoU) in the field of education. This will strengthen the educational partnership between the Sultanate of Oman and the Republic of Türkiye.

The meeting was attended by Saif Rashid Saif Aljahwari, Ambassador of the Sultanate of Oman to Republic of Türkiye; Engineer Hamood bin Salem Al Saadi, Second Vice Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry; and Sheikh Salem bin Abdullah Al Rawas, Head of the Omani representation for the Omani Turkish Joint Business Council, along with a number of officials from both countries.

Alongside the Committee’s meetings, the Minister of Commerce, Industry and Investment Promotion met with Dr Ömer Bolat, Minister of Trade of the Republic of Türkiye. The Ministers discussed prospects for trade and investment cooperation, ways to develop the volume of trade and strengthen partnership between the private sectors in both countries. They also reviewed issues of mutual interest.

Oman's Minister  also met with Mehmet Fatih Kacir, Minister of Industry and Technology of the Republic of Türkiye. The meeting reviewed opportunities for cooperation in industry, the transfer of knowledge and technology and joint manufacturing. It also discussed the formation of technical working teams to support industrial partnerships between the two countries.

Separately, the Ministry of Commerce, Industry and Investment Promotion organised a roundtable meeting with a number of Turkish investors to strengthen investment partnerships and explore opportunities for economic cooperation.

The meeting is part of Oman’s drive to expand its network of international partnerships and strengthen its investment relations with major industrial economies. It brought together a group of leading investors, chief executive officers and representatives of several leading Turkish companies.

The meeting highlighted four main sectors: industry, energy, tourism and health. It reviewed promising investment opportunities in Oman and strengthened bilateral cooperation in priority sectors.

The business dialogue also provided a direct platform for engagement through a comprehensive presentation of Oman’s competitive advantages. These include its strategic geographic location, political and economic stability and supportive legislative environment. The dialogue also highlighted government incentives and major projects underway, which contribute to enhancing Oman’s competitiveness as a regional investment hub.

The visit forms part of Oman’s efforts to expand its presence in promising markets and continue a series of business dialogue initiatives aimed at strengthening international economic relations and opening new investment horizons.

Turkish investments in Oman have seen notable growth. The number of Turkish companies operating in Oman increased by 21 percent by the end of September this year. The volume of Turkish investments also rose by 18.7 percent, reflecting strong investor confidence in Oman’s investment environment.