Oman Sultan's India visit will elevate strategic partnership, boost trade and cooperation
Dec 15, 2023
New Delhi [India], December 15 : The ongoing visit of Sultan Haitham bin Tarik of Oman to India is poised to elevate the existing strategic partnership between the two nations, emphasising the promotion of trade, investment, and cooperation across diverse sectors, according to the Oman News Agency.
The discussions between Sultan Haitham and the Indian leadership in New Delhi aim to foster integration and cooperation, paving the way for enhanced collaboration.
As of the end of the third quarter of 2023, the commercial exchange between Oman and India amounted to RO 1.447 billion.
Omani exports to India, valued at RO 699.218 million, encompassed products such as oil, minerals, LNG, polyethene, propylate, aluminium, and urea.
Conversely, Omani imports from India reached RO 747.883 million, involving items like rice, motor fuel, natural gasoline, wheat, ignition control of vehicles, and iron ore.
Indian investments in Oman have witnessed substantial growth, reaching RO 378.4 million by the end of June 2023. The presence of 1,744 Indian companies in Oman, with a cumulative investment of RO 281 million by the close of 2022, underscores the diverse sectors these investments are distributed across.
These sectors include industry, construction, trade, transportation, communications, oil and gas, mining, quarrying, education, agriculture, fisheries, tourism, and health. The Sultan's visit signifies a commitment to further strengthening these economic ties and fostering mutual growth.
The Oman News Agency also said that India's invitation to Oman to be a guest of honour in the G20 Summit, which it hosted, represents an affirmation of the advanced and sincere relations between the two friendly countries.
These relations were confirmed by Muscat and New Delhi during the eighth Omani-Indian strategic dialogue session held in January 2023, which highlighted the top priority that the two leaders attach to strengthening bilateral strategic relations based on mutual trust and respect.
Oman's Ambassador to India, Issa bin Saleh Al Shaibani, said that what unites Oman and India is their ancient civilisations and their deep-rooted historic relations, which are embodied through a combination of historic, cultural and economic interdependence.
These relations, the ambassador noted, flourished during the current era, strengthened by the wise leaderships of both countries and a common outlook towards a growing political position and a developed and prosperous economy.
On the other hand, Indian Ambassador to Oman Amit Narang affirmed that India, its government and its people look forward to welcoming Sultan Haitham bin Tarik on his first visit to India. He expressed his confidence that this visit will be a new milestone in the framework of bilateral relations between the two countries, according to the Oman News Agency.
