Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir highlighted the importance of the Egyptian and Omani sides focusing on establishing complementary industrial projects based on making use of the capabilities, resources, and raw materials available in the two countries to produce finished products carrying the label “Made in Egypt” or “Made in Oman.”
During his meeting with Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohamed Al-Youssef, during his current visit to the Oman, to participate in the Egyptian-Omani Business Forum, Wazir said that the deep-rooted relations linking Egypt and Oman are based on a long history of cooperation between the two countries in various fields.
He voiced Egypt’s aspiration to strengthen all aspects of bilateral relations, increase the volume of joint investments between the two countries and study available investment opportunities in a number of sectors, in implementation of the directives of the political leaderships in Cairo and Muscat.
Wazir added that the Egyptian delegation includes representatives of Egyptian companies operating in the Sultanate of Oman, most of which work in the fields of construction and infrastructure.
Egypt, he said, hopes these companies will serve as a nucleus for attracting Egyptian companies from various sectors to the Omani market, transferring the Egyptian expertise built up over recent years in projects that included roads, infrastructure, industry, the establishment and servicing of industrial zones, as well as water and wastewater plants.
During the meeting, the capabilities of Egyptian contracting companies in implementing all types of projects were reviewed, along with projects carried out by Egyptian companies in Oman.
Wazir said Egyptian companies are ready to establish factories to produce building and construction materials in Oman or to complete their manufacturing there, praising the experience of Egyptian industrial developers in establishing industrial zones of the highest standards.
He also stressed the need to make use of iron and copper ores available in Oman to establish joint industries, including the manufacture of cables and wires to meet the needs of the Egyptian and Omani markets and for export.
For his part, the Omani minister underscored the depth of the relations between Egypt and Oman, praising Egypt’s unique achievement represented by the establishment of the Grand Egyptian Museum (GEM) and the New Administrative Capital.
Meantime, he stressed the need to form a working team from the Omani Ministry of Commerce, Industry and Investment Promotion and the Egyptian ministries of Industry and Transport to explore opportunities for industrial integration between the two countries, assess the feasibility of such integration and enhance port connectivity in a way that would boost bilateral trade.
He also emphasized building on the success of Egyptian companies operating in the Omani market, as well as leveraging the network of trade agreements linking both countries with various markets and states.
