Oman, UK ink cooperation agreement to boost trade relations

Oman, UK ink cooperation agreement to boost trade relations

Oman, UK ink cooperation agreement to boost trade relations

LONDON, 13th January, 2022 (WAM) – The Sultanate of Oman and the United Kingdom have agreed to bolster the relations and high-value investment volume between the two countries, reported the Oman News Agency (ONA).

To this effect, an agreement of partnership was signed in London between the Oman Investment Authority and the British Office for Investment.

The trade volume between the two countries reached GBP 1 billion annually.

Moreover, direct British investments comprise 50 percent of the foreign investments volume in the Sultanate of Oman over the past years, ONA stated.

The agreement of partnership aims to invest in specific fields, namely clean energy and information technology.

Furthermore, the agreement is expected to contribute to the establishment of economic projects in Oman, including ones in the fields of construction, industry and services.

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