Oman and UAE Fraternal Bonds and Strategic Partnership

The Sultanate of Oman and the United Arab Emirates enjoy deep-rooted fraternal bonds and a strategic partnership that continues to grow stronger under the wise leadership of His Majesty Sultan Haitham bin Tarik and President His Highness Sheikh Mohamed bin Zayed Al Nahyan.

The state visit this week by His Majesty the Sultan to the UAE carries great significance, aiming to further promote the exceptional bilateral relations between the two nations towards broader horizons that serve the interests of their peoples and maintain security and stability in the region.

The distinguished Oman-UAE relationship is built on a foundation of economic and trade cooperation that was first laid by the late Sultan Qaboos and Sheikh Zayed bin Sultan Al Nahyan decades ago. Their shared vision fostered real fraternity and harmony over the past 50 years.

As His Majesty and Sheikh Mohamed meet, they will exchange views on regional and global developments while reinforcing their countries' drive to boost effective cooperation across diverse sectors for mutual benefit.

The Oman-UAE Joint Supreme Committee, established in 1991, plays a pivotal role coordinating collaboration in economic, commercial, cultural and educational fields. It facilitates integrated networks for electricity, communications and transport links while promoting joint investment prospects.

"His Majesty's visit will accelerate the path of cooperation, integration and partnership between our two nations," said Sayyid Dr. Ahmed bin Hilal Al Busaidi, Oman's Ambassador to the UAE. He highlighted the signing of 16 agreements across various sectors during recent mutual leadership visits.

Economic ties have witnessed a remarkable leap thanks to the leadership's focus. Sayyid Al Busaidi forecast more joint investments ahead to further consolidate the robust economic partnership. Key Omani investments in the UAE span financial services, manufacturing, real estate and commerce sectors, while Emirati investments in Oman are concentrated in industries like tourism, power, real estate and retail.

"The UAE is one of Oman's most vital trading partners," the Ambassador affirmed. Omani exports to the UAE exceeded $2.7 billion in 2023, a 20.4% yearly increase reflecting the flourishing advanced economic partnership.

Trade exchange between the two nations reached around $14.8 billion in 2023. The UAE topped destinations for Omani outward investments at $2.6 billion, while its inward investments in Oman amounted to $2.6 billion by year-end.

The private sectors in Oman and the UAE play a crucial role driving economic diversification across converting industries, logistics, mining, tourism and fisheries. As remarked by Faisal Al Rowas, Chairman of Oman's Chamber of Commerce and Industry, "The fraternal Oman-UAE bonds represent a solid ground for integrated economic and trade partnership."

A new milestone was achieved last September with the establishment of the jointly-owned "Oman and Etihad Rail" company to design, develop and operate a $3 billion railway network linking Oman's Sohar Port to the UAE's national railway. This megaproject aims to enhance supply chain efficiency, ease cross-border trade, connect economic hubs and improve logistics for both nations.

The two countries' ports are interlinked via direct shipping lines transporting various products and exports. Oman's Duqm Dry Dock received over 350 projects from the UAE market in 2023, recording 43% growth. Joint tourism investments have flourished, while cultural cooperation extends to book fairs, exhibitions and national events in both nations.

As His Majesty Sultan Haitham visits the UAE, the meeting with Sheikh Mohamed bin Zayed reaffirms the resolve to elevate this exemplary fraternal partnership to new heights across all fields for the mutual development and prosperity of their peoples