Oman and Saudi Arabia reinforced their collaboration during the latest Coordination Committee meeting in Riyadh, focusing on regional economic alignment. The session evaluated completed initiatives and reviewed new plans designed to enhance trade, industry, and supply chain integration. By emphasizing regional cooperation, officials highlighted the importance of a unified economic strategy.
The committee confirmed six initiatives were fully completed and outlined plans to finalize eleven additional projects. These efforts support measurable results and ensure economic partnership benefits across multiple sectors. Consequently, both countries now maintain a clear roadmap for joint industrial and commercial growth.
In the industrial sector, the second phase of the industrial integration project was finalized. Omani products can now enter the Saudi market using Omani certificates of origin. This advancement strengthens supply chains, reduces costs, and promotes smoother trade flows, contributing directly to regional economic alignment goals.
The future factories initiative also reached completion, complemented by twelve agreements linking Omani and Saudi supply chains. These agreements foster joint manufacturing, increase added value, and support industrial diversification. Furthermore, this collaboration enhances innovation and creates opportunities for expanding joint economic integration.
Trade relations showed strong growth, surpassing $8 billion by the end of 2024. This achievement reflects growing business confidence and robust partnerships. In addition, a memorandum of understanding on competition protection aligned regulatory standards and prevented monopolistic practices, further advancing regional economic alignment.
Technical workshops enabled knowledge exchange and harmonized standards, while proof-of-origin verification updates simplified cross-border processes. Together, these steps strengthen industrial collaboration, reduce bureaucracy, and boost regional cooperation in the long term.
In conclusion, Oman and Saudi Arabia are building a model of regional economic alignment. Coordinated initiatives, joint agreements, and industrial integration projects collectively expand trade, improve competitiveness, and solidify strategic ties for the future.
