Oman and Saudi Arabia have welcomed the signing of a memorandum of understanding (MoU) on the establishment of an Omani-Saudi Coordination Council—co-chaired by the foreign ministers of both countries—to strengthen bilateral relations in all fields.
Oman’s Sultan Haitham Bin Tarik and Saudi Arabia’s King Salman bin Abdulaziz Al Saud held a session of talks reviewing the various aspects of cooperation and ways of enhancing joint action in many spheres. They commended the current level of coordination in political, military and security fields, reported state-run Oman News Agency (ONA), citing a joint communiqué issued by Saudi Arabia and Oman.
They also agreed to direct the departments concerned to expedite the opening of the direct land route and border checkpoint, which will contribute to the smooth movement of the citizens of the two countries and ease the connectivity of supply chains.
They also directed the officials concerned to work on finalizing a number of agreements and MoUs for cooperation in various economic, commercial, investment, security, cultural, diplomatic and educational fields and everything that might generate benefits or bring about prosperity to the peoples of the two countries.
The two sides reaffirmed their determination to accelerate the pace of economic cooperation between the two countries, notably by encouraging government and private sectors to realize meaningful commercial and investment exchanges that will live up to the aspirations and expectations of their peoples and meet the goals of Saudi Vision 2030 and Oman Vision 2040.
This can be done through the launch of joint initiatives covering key areas of cooperation, including investment in the Duqm zone, cooperation in the field of energy, partnership in food security and cooperation in the fields of culture, sports and tourism, the communiqué said.
The two sides agreed to enhance cooperation in the fields of environment, food security and the “Middle East Green Initiative” unveiled by HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defence.
They also welcomed support for cooperation towards adopting the “Circular Carbon Economy (CCE)” approach, endorsed by the G20 as an integrated and comprehensive framework to address and manage the challenges arising from greenhouse gas emissions.
The CCE is an approach that constitutes an economically sustainable way to manage emissions through the applications of its four elements, namely reduction, reuse, recycle and elimination. In this context, the two sides noted the importance of utilizing sources of renewable energy and associated technologies, since they contribute to sustaining global energy supplies.
The two sides agreed to direct the authorities concerned to study opportunities for mutual investments in advanced technologies, innovation, energy projects, renewable energy, industry, health sector, pharmaceutical industries, real estate development, tourism, petrochemicals, converting industries, supply chains, logistical partnership, information technology and financial technology (fintech) that may benefit both countries—bearing in mind available potential and opportunities in both countries.
The two sides also welcomed the participation of Saudi companies’ investment in quality projects that the Sultanate seeks to accomplish.
The two sides also exchanged views on regional and international issues of common concern and agreed to coordinate their positions in a way that would serve their interests and support security and stability in the region and the entire world.
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