OCCI Strengthens Economic and Trade Partnerships with Saudi Arabia

Oman, 10 December, 2024 : The Oman Chamber of Commerce and Industry (OCCI) concluded a successful visit to Saudi Arabia, marked by extensive field visits, bilateral meetings, and trade partnerships aimed at boosting economic and commercial ties.

The delegation, led by senior officials, visited the Riyadh Chamber of Commerce and explored Saudi Arabia’s Investor Voice Initiative and National Investment Strategy. These initiatives aim to enhance investment quality and align with Vision 2030, offering valuable insights for Omani businesses.

Key discussions included Gulf economic integration and promoting Omani exports to Saudi Arabia. Oman’s Ambassador to Saudi Arabia, Sayyid Faisal bin Turki Al Said, stressed the importance of joint efforts to market Oman and establish strategic partnerships that drive national economic growth.

The delegation also engaged with Monsha’at, Saudi Arabia’s SME General Authority, learning about programs to support entrepreneurship, diversify financial resources, and foster innovation. Meetings with Saudi business leaders allowed both sides to share experiences and explore collaboration opportunities.

Participation in the annual Riyadh Chamber business gala further enhanced communication among leaders, with over 4,000 attendees, including ministers and diplomats. Preliminary memorandums of understanding were signed, laying the groundwork for future cooperation.

Engineer Said bin Ali Al Abri of OCCI North Al Batinah highlighted the visit’s achievements, including insights into AI, cybersecurity, and sustainable projects, as well as addressing challenges faced by Omani exporters. Ahmad Al Kamshaki, also from OCCI, emphasized the visit’s success in fostering mutual cooperation and strengthening economic ties between Oman and Saudi Arabia.