Oman-Qatar strategic relations strengthening economic prosperity
28/01/25
Oman and Qatar are continually working to enhance their bilateral ties, with a focus on mutual economic growth and regional cooperation. The ongoing development of their relationship reflects both countries' shared commitment to expanding partnerships across diverse sectors. Such progress encourages increased robust trade and investment cooperation.
As a result, the Omani-Qatari Joint Committee, established in 1995, plays a pivotal role in advancing collaborative efforts between the two nations. This committee actively explores opportunities for investment and trade, working to identify areas for joint ventures that benefit both economies. Over the years, the committee has held 23 meetings, solidifying its role as a cornerstone of bilateral cooperation.
Recent data from the Oman National Centre for Statistics and Information highlights the growing economic exchange between Oman and Qatar. By the end of 2023, trade between the two nations reached a total of OMR 1.11 billion (USD 2.89 billion) with Omani exports to Qatar valued at OMR 284.7 million (USD 739.5 million) and imports worth OMR 828.6 million (USD 2.155 billion). Furthermore, by November 2024, trade volume had increased to OMR 950.8 million (USD 2.47 billion, demonstrating successful commercial relations. Notably, Omani exports to Qatar continue to increase, with 2024 amounting to OMR 140.2 million (USD 364 million) by October.
Additionally, joint investment ventures, which include the Al Hosn Investment Company, a partnership between the Oman Investment Authority and Qatar Holding Company, further strengthen economic ties. Moreover, the establishment of the Omani-Qatari Businessmen Council under the umbrella of both the Oman Chamber of Commerce and Industry and Qatar Chamber of Commerce also fosters ongoing trade collaboration, enabling new opportunities for bilateral business ventures.
Oman and Qatar have enjoyed a 20% growth rate in trade over the last two years and their successful ventures span key sectors such as energy, hospitality, contracting and services, positioning both nations for continued prosperity and deeper economic cooperation.
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