The economic and investment relations between the two countries are experiencing steady growth, evidenced by the non-oil trade exchange volume reaching AED 48.7 billion in 2022…reports Asian Lite News
Today’s state visit of His Majesty Sultan Haitham bin Tariq of Oman to the UAE holds outstanding historical significance in the ongoing development of bilateral relations between the two nations, which have evolved into a robust strategic partnership across multiple domains and sectors.
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. This endeavour is fuelled by the guidance and backing of the esteemed leaders of both nations, including President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Majesty Sultan Haitham bin Tariq.
The two nations enjoy close ties across multiple levels, evident in continuous dialogue, high-level meetings, and ongoing ministerial and governmental engagements. These interactions underscore the significant importance both nations place on advancing their bilateral relations.
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Strengthening ties with the Sultanate of Oman stands as a key priority for the leadership of the UAE. This was clearly expressed by President His Highness Sheikh Mohamed bin Zayed Al Nahyan when he said, “The UAE and Oman are a deep-rooted brotherhood bound by extended relations that only increase with time in firmness, strength and affection.” In turn, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, embodied the uniqueness of Emirati-Omani relations and their historical depth, as His Highness said, “Oman is from us, and we are from them, our brothers, and our support in the face of adversity.”
The deep-rooted ties between the two fraternal nations trace back through history, marked by numerous significant milestones over the past decades, including the historic meeting between the late Sheikh Zayed bin Sultan Al Nahyan and Sultan Qaboos bin Said in 1968.
The historic visit of Sheikh Zayed bin Sultan Al Nahyan to the Sultanate of Oman in 1991 marked a significant turning point in the cooperation between the two nations. This visit led to the establishment of a joint higher committee, which achieved notable milestones in joint economic cooperation and coordination in areas such as economy, trade, culture, education, communications, transport, in addition to increasing opportunities for joint investment.
President His Highness Sheikh Mohamed bin Zayed Al Nahyan’s visit to the Sultanate of Oman in September 2022 stands as a pivotal moment in the history of relations between the two countries. During this visit, approximately 16 agreements and memorandums of understanding were signed, paving the way for joint cooperation across various domains including scientific, economic, political, security, cultural, and others.
The two countries prioritize ongoing coordination and consultation on bilateral, Arab, and international matters. They share a common vision for peace and stability in the region, coupled with a sincere commitment to bolstering the unity and cohesion of the Gulf and the Arab world as a whole.
The economic ties between the UAE and the Sultanate of Oman underscore the depth of their robust partnership. Both nations recognize the significance of collaborative economic and trade cooperation, emphasising the need to enhance it through increased trade volume and the reinforcement of bilateral economic relations across various sectors including industry, commerce, and investment, both in the private and public spheres.
The economic and investment relations between the two countries are experiencing steady growth, evidenced by the non-oil trade exchange volume reaching AED 48.7 billion in 2022.
The UAE holds the position of being the Sultanate’s foremost trading partner, serving as both its largest exporter and importer. It constitutes over 40 percent of Oman’s total imports globally and approximately 20 percent of its exports to international markets.
The UAE stands out as one of the leading countries globally in terms of investment in the Sultanate of Oman across various sectors. These include manufacturing industries, real estate and rental activities, commercial project activities, construction, financial intermediation, transportation and storage, hotels, among others. Additionally, the UAE ranks first as a destination for Omani direct investments abroad.
Cultural relations serve as one of the most significant pillars of Emirati-Omani relations, marked by continuous growth and prosperity. These relations have consistently garnered attention and oversight from the wise leadership in both countries.
The two countries share a common cultural heritage of arts and literature, which has contributed to the development of a cohesive cultural identity for their respective populations and for all the peoples of the Arabian Gulf region.
In 2022, the two countries signed a memorandum of understanding aimed at facilitating the exchange of experiences, information, and experts in the cultural and youth sectors, with a particular focus on arts and libraries. This agreement seeks to bolster the role of cultural dialogue and youth gatherings, promote exchange visits among cultural and youth authorities, and support collaboration among writers, thinkers, experts, and youth practitioners to enhance youth policies and initiatives.
Sports collaboration shines brightly in UAE-Oman relations, as sports entities in both countries are committed to enhancing joint cooperation across various sports federations, encompassing technical, and administrative realms. This includes organizing training camps for national teams, facilitating friendly matches among clubs, and other initiatives that bolster the sporting landscape.
Historically, the Sultanate of Oman served as the launching pad for the first professional experiences of Emirati football coaches abroad, notably exemplified by coach Hassan Ali in the 1980s.
In recent years, the UAE Pro League has emerged as a preferred destination for Omani players, exemplified by talents like Fawzi Bashir, who has made notable stints with Bani Yas, Al Dhafra, and Ajman clubs, Hassan Muzfar with Al Wahda club, Arshad Al Alawi with Emirates club, and Ahmed Kano with Al Ain club.
Presently, there is robust participation from various Omani sports teams in the inaugural Gulf Youth Games hosted by the UAE. Additionally, the Omani athletics team is gearing up to compete in the upcoming Asian Athletics Championships set to be held in Dubai from 24th to 27th April.
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