Oman strengthens economic cooperation with Russia through new agreements and partnerships. Leaders from both countries signed multiple deals covering trade, tourism, investment, and security.
During His Majesty Sultan Haitham bin Tarik’s state visit to Russia, several important agreements were signed. These included a protocol on economic and technical cooperation and a project to create a joint economic committee.
Oman and Russia also agreed on a mutual visa exemption. This step will make travel easier between the two nations. It will also boost tourism and encourage more direct business exchanges.
In addition, Oman and Russia signed memorandums of understanding in transport, fighting money laundering, fisheries cooperation, and promoting private sector investments. These developments show the strong focus on expanding Oman-Russia economic cooperation.
His Excellency Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion, stressed the importance of building on the historical ties between the two nations. He noted that Oman-Russia economic cooperation matches the goals of Oman Vision 2040 and focuses on mutual benefits.
He also highlighted that efforts are growing at both the governmental and private sector levels. These actions aim to deepen bilateral relations and create sustainable economic integration.
Moreover, Oman and Russia plan to explore new sectors like digital transformation and the green economy. These areas offer fresh opportunities for businesses and match the global move toward sustainable growth.
Oman remains committed to offering a safe, attractive environment for investors. Officials believe the state visit to Russia marks the start of a stronger economic partnership. Oman wants to become a leading investment destination and a trusted global partner.
Faisal bin Abdullah Al Rawas, Chairman of the Oman Chamber of Commerce and Industry, praised the memorandum signed with Russia’s Roscongress Foundation. He explained that the agreement will enhance Oman-Russia economic cooperation further.
He pointed out that the memorandum will support joint projects, knowledge exchange, and mutual investments. It will also help businesses in both countries find new opportunities to work together.
Meanwhile, Haitham bin Mohammed Al Ghassani, Director General of Tourism Promotion, explained the benefits of the visa exemption. He said the move would increase Russian tourist visits to Oman.
Oman’s tourism authorities already started promoting Oman more actively in Russia. They expect tourist numbers to rise thanks to easier visa rules and new direct flights between Muscat and Moscow.
Oman-Russia economic cooperation keeps gaining momentum across many sectors. With ongoing government support and private sector involvement, this relationship is set to grow even stronger in the coming years.
