Minister of Investment and Foreign Trade Mohamed Farid and Chairman of the Public Authority for Special Economic Zones and Free Zones in Oman Qais bin Mohamed Al Yousef have discussed ways to boost Egyptian-Omani investment and trade co-operation and integrate economic and free zones. Omani Ambassador to Egypt Abdullah bin Nasser Al Rahbi attended.
During the meeting, Minister Farid stressed the importance of moving Egyptian-Omani relations towards greater economic integration through investment and industrial partnerships, joint promotion of opportunities and opening new markets for Egyptian companies.
He said consultations are under way to expand co-operation in pharmaceuticals, food, apparel, textiles, renewable energy, logistics, manufacturing, marble and related industries.
The meeting examined proposals enabling Egyptian companies to use Omani economic and free zones for manufacturing and re-export to Asian markets, while leveraging Egypt’s strategic location and industrial and logistics capabilities to access other markets.
The minister stressed the need for an executive action plan identifying priority sectors, companies and implementation mechanisms to turn opportunities into tangible projects.
The two sides also discussed joint promotion of investment opportunities and plans to organise a Cairo forum introducing Egyptian businesses to investment and expansion opportunities in Oman.
In this respect, Minister Farid said the approach supports the Ministry’s strategy of helping Egyptian companies expand abroad and boost exports.
Chairman Al Yousef outlined Oman’s experience in developing economic and free zones, highlighting plans to use Omani ports and zones as a platform for Egyptian products to reach East African and Asian markets.
The two sides agreed to identify priority opportunities, prepare an executive co-operation programme, activate joint promotion mechanisms and organise business events to increase investment and trade.
