10 agreements to boost trade to $5 billion

1. Erdogan thanks for the solidarity shown by His Majesty the Sultan in the aftermath of the earthquake disaster

6. Oman's investments in Türkiye reflect country's confidence in the strength of the Turkish economy

ANKARA: His Majesty Sultan Haitham bin Tarik and President Recep Tayyip Erdogan of the Republic of Türkiye graced the signing of 10 agreements and memoranda of understanding (MoUs) at the Presidential Complex in Ankara on Thursday.

The pacts come within the context of His Majesty’s current state visit to Türkiye.

The signing included 2 agreements in joint investment and health, and 8 memoranda of understanding in political consultations, investment promotion, agriculture, fisheries, livestock, water, labour, employment, entrepreneurship, small and medium enterprises (SMEs), cooperation between central banks, and cultural cooperation.

His Majesty Sultan Haitham bin Tarik delivered a speech during the signing ceremony reading as follows: “President Recep Tayyip Erdogan, It is a great pleasure for us to be in Ankara, the capital of your hospitable country, the friendly Republic of Türkiye, and to express our great satisfaction with the constructive dialogue and consultations we held with Your Excellency and members of your government.

We are pleased to seize this opportunity to underscore the depth of historical relations between the Sultanate of Oman and the Republic of Türkiye. We look forward to consolidating these relations in all areas of common interest to our two countries, towards a promising future of further growth and prosperity — a future embodied in the shared vision that will be developed by the two sides in the forthcoming stage.

"Our relations, Your Excellency, are a vital model of fruitful cooperation. Turkish companies have played a vital role in supporting infrastructure and development projects in the Sultanate of Oman. Meanwhile, Omani investments in Türkiye reflect our firm confidence in the strength of the Turkish economy and the constructive ties that unite the economies of the two countries.

We have instructed the members of the Omani government to continue working diligently with their Turkish counterparts, and to accord priority to vital areas of cooperation. We hope to expand the volume of commercial exchange and to encourage the establishment of joint economic projects through the joint investment fund that was launched today to serve a number of strategic sectors, notably industries related to renewable energy and defence industries, in addition to cooperation between our educational institutions to develop research, innovation and areas of technology, health care and food security, among other areas.

We also underline the importance of cultural cooperation, which contributes to enriching knowledge and cultural interaction among peoples.

"Our two countries share a firm commitment to support efforts for peace and stability. We value the efforts made to enhance regional cooperation. We would like to express our great appreciation for Türkiye’s stands on the major issues affecting our region. We continue to adhere to constant principles towards the realisation of a just and comprehensive solution to the Palestinian issue, based on the Two-State Solution. We are confident in Türkiye’s strong backing for this legitimate cause and the country's endeavours to help achieve justice and peace for all.

"Mr President, we thank you very much for this kind invitation, and the warm welcome accorded to us and for sincere hospitality extended to us. We are pleased to reiterate our invitation to you Mr President to visit the Sultanate of Oman so that we can once again celebrate the historical friendship and civilisational communication between our two countries. Your Excellency’s visit to Oman would enhance our fraternal relations towards further progress and constructive cooperation benefiting the two friendly peoples.

Accept our sincere wishes of further progress and prosperity for the friendly people of Türkiye."

On his turn, Türkiye President Recep Tayyip Erdogan welcomed His Majesty the Sultan, noting that this the first high-level official visit since the start of diplomatic relations between the two countries that are bound by deep-rooted historical and fraternal ties. He pointed out that the visit would shuttle bilateral relations into higher spheres in all fields.

In a speech he delivered during the agreement signing ceremony, President Erdogan expressed his great thanks for the sincere sentiments of solidarity shown by His Majesty the Sultan in the aftermath of the earthquake disaster that hit Türkiye in 2023).

He expressed his deep appreciation for the efforts made by His Majesty the Sultan in the context of the Yemeni crisis, as well as His Majesty the Sultan’s stands on many other matters of concern to the region, noting that His Majesty the Sultan showed a high sense of responsibility and had always worked hard for the realisation of peace.

President Erdogan added that his discussions with His Majesty the Sultan focused on applying an “institutional character” to bilateral relations and studying all options for developing a consultative cooperation mechanism.

He explained that with the signing of 10 agreements and memoranda of understanding, the two countries seek to augment the volume of economic and commercial relations to $5 billion in the first phase.

President Erdogan said that bilateral cooperation will enter a new era of cooperation in the field of energy upon the start of import of liquefied natural gas from the Sultanate of Oman in 2025, in addition to cooperation in the field of defence industries.

He pointed out that the session of talks also touched on current developments in the region. In this context, he voiced his appreciation for the Sultanate of Oman's support for efforts aimed at resolving regional and international issues through dialogue, consultation, cooperation and shared views about these issues. Currently, the most important action now is the need to develop a tangible and comprehensive cooperation between Islamic countries to confront the massacres committed by the Israeli occupation forces in Palestine and address the assaults that continue to threaten the security of the region.

The first agreement is related to the partnership between Oman Investment Authority and the Turkish Armed Forces Retirement Fund (OYAK). It aims to establish a joint entity worth $500 million to invest in various sectors including food, industry, healthcare, new energy, consumption, and logistics services.

The investment will be made in existing companies or promising new projects managed by a joint board that includes representatives from both parties.

The second agreement signed between Oman’s Ministry of Health and its Turkish counterpart aims partnership between the two countries in several main areas, including public health, hospital management, pharmaceutical industries, medical equipment, health investments, research fields, and organising health conferences and exhibitions.

In the diplomatic field, Oman’s Foreign Ministry, represented by the Diplomatic Academy, signed a memorandum of understanding (MoU) with its Turkish counterpart, represented by the Diplomatic Academy.

The two agreements and the memorandums of understanding were signed on behalf of the Sultanate of Oman by Sayyid Badr bin Hamad al Busaidy, Foreign Minister, Abdulsalam bin Mohammed al Murshidi, Chairman of Oman Investment Authority and Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion.

Meanwhile, the agreements and MoUs were signed from the Turkish side by Hakan Fidan, Minister of Foreign Affairs, and the Governor of the Central Bank of the Republic of Türkiye. — ONA