Oman, Saudi launch 2nd phase of industrial integration initiatives

07/07/2025 06:26 AST

The Sultanate of Oman and the Kingdom of Saudi Arabia launched the second phase of industrial integration initiatives on Saturday in Riyadh, as part of the Economic, Trade, and Industry Committee under the Omani-Saudi Coordination Council.

This new phase features a set of strategic initiatives aimed at deepening industrial cooperation between the two nations. Key among them is the inclusion of Omani products in Saudi Arabia's list of approved industrial capabilities and the application of national origin rules to ensure equal treatment for Omani and Saudi companies in government tenders and procurement.

The initiatives also seek to streamline the registration of industrial products with relevant regulatory authorities in both countries and introduce a fast-track mechanism for product conformity processes. In addition, the two sides will exchange investment opportunities in key industrial sectors and work to strengthen integration across supply chains tied to free trade agreements and regional markets, particularly in Africa.

The meeting also reviewed the achievements of the first phase of cooperation, which included the linkage of industrial zones, joint projects in strategic industries, data exchange, the formation of technical working groups to align industrial legislation, and coordinated participation in international exhibitions and conferences.

H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry, and Investment Promotion, highlighted that the launch of the second phase and the signing of bilateral agreements reflect the shared commitment of Oman and Saudi Arabia to advancing industrial cooperation. He stressed that the initiatives align with the visions of the leaderships in both countries, aiming to build strategic partnerships rooted in integration and reciprocity. These efforts are expected to boost local value-added production, widen the industrial base, stimulate trade and investment, and foster a competitive business environment that supports private sector growth.

The launch ceremony was held under the patronage of H E Yousef and H E Bandar bin Ibrahim al Khorayef, Saudi Minister of Industry and Mineral Resources. The event was attended by H E Najib bin Hilal al Busaidi, Oman's Ambassador to Saudi Arabia and Permanent Representative to the Organization of Islamic Cooperation and the Digital Cooperation Organization, alongside other officials from both countries.

The ceremony featured a visual presentation outlining current joint industrial initiatives and expansion plans across priority sectors. Future initiatives focused on bolstering industrial cooperation, scaling up investments, and supporting supply and manufacturing chains were also discussed.

During the visit, H E Yousef met with HRH Prince Sultan bin Khalid al Saud, CEO of the Saudi Industrial Development Fund. The meeting explored avenues for financing joint industrial projects, exchanging expertise, and supporting the development of industrial zones and related infrastructure.

The launch marks a significant step in advancing industrial integration between Oman and Saudi Arabia.

Muscat Daily