The Sultanate of Oman and the UAE have always been keen on strengthening the bonds of brotherhood, good neighbourly relations, and social and economic ties between the leaderships and peoples of the two fraternal countries.
The historical ties between the two countries are manifested by a number of milestones including the historic meeting between the late Shaikh Zayed bin Sultan al Nahyan and the late Sultan Qaboos in 1968. Further, the visit of late Shaikh Zayed to Oman in 1991 became a landmark turning point in the cooperation between the two nations.
Significantly, the bilateral relations have not stopped with previous leaderships, instead they have been continuing with more confidence. This is evident from the mutual visits and talks between the leaders of the two countries in the recent years.
Only about five months after assuming the presidency, Shaikh Mohammed bin Zayed made a visit to the Sultanate of Oman in late September 2022.
His Majesty Sultan Haitham bin Tarik was the first leader to arrive in the Emirates to offer condolences on the demise of late President Shaikh Khalifa bin Zayed al Nahyan in May 2022.
Now, reflecting on historical relations is the current latest visit by His Majesty to the UAE and the consequent high-level talks and deals.
As reported by the Emirati news agency WAM, the visit “epitomises the unique and extraordinary bond between the UAE and Oman, bolstered by a shared history, societal closeness, and a genuine commitment to enhancing cooperation and coordination across broader and more comprehensive avenues.”
The visit is expected to pave way for a surge in trade and investment opportunities across various sectors, fostering greater economic cooperation.
The enthusiasm with which HH Shaikh Mohammed received His Majesty the Sultan was evident when he wrote on ‘X’, formerly Twitter, "I had the pleasure of welcoming my brother Sultan Haitham bin Tarik to the UAE today and discussing with him the deep and longstanding bonds that unite our two nations."
The two leaders signed a number of agreements and memoranda of understanding covering investments in key sectors such as renewable energy, railways and modern technology aimed at further strengthening relations between the two neighbouring countries.
The announcement for the actual start of work on the “Jusoor” Fund, and the activation of direct investments in emerging technology companies and small and medium enterprises is expected to pave way for further boost in the technical sector.
So is the memorandum of understanding for investment between the Ministry of Commerce, Industry and Investment Promotion and the UAE Ministry of Investment that aims to explore, identify and exchange investment opportunities.
Companies in the field of renewable energy in both countries will benefit from the memorandum of understanding to begin work on feasibility studies to implement innovative projects in the respective fields.
The two sides also discussed several regional and international issues of common interest, most notably developments in the Middle East and efforts to contain tensions and prevent escalation, as this entails a serious threat to security and stability.
Oman and Etihad Rail Company, a joint venture between Oman Rail and Etihad Rail, is overseeing the mega $3 billion project to build a railway link between Oman and the UAE that was announced last year.
The UAE is one of the most important trading partners for Oman. The volume of trade and investment exchange between the two countries over the past years reflects the depth of the economic partnership between them and its promising prospects.
Oman Observer is now on the WhatsApp channel. Click here
