Oman’s Minister of Commerce Strengthens Economic Ties with the US
Muscat – H E Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, is currently on a visit to the United States, covering four major states. The purpose of his trip is to enhance economic relations by engaging with industry leaders, government officials, and potential investors, marking a new phase of collaboration between Oman and the US.
During his visit to Washington, H E Yousef met with Jose W Fernandez, US Under Secretary of State for Economic Growth, Energy and the Environment, to discuss increasing trade, investment, and cooperation in sectors such as clean energy, critical minerals, and space. Fernandez described their discussions as “highly productive” and expressed excitement about expanding efforts in various sectors.
Oman’s strong economic relationship with the US is further bolstered by the Free Trade Agreement (FTA) between the two countries, which has significantly increased Oman’s non-oil exports to the US. In 2022, the total goods and services trade between the two countries amounted to an estimated US$5bn.
H E Yousef’s visit is expected to strengthen existing economic ties and create new opportunities for bilateral growth.
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