Muscat, 8 December 2021 (TDI): As scheduled, Saudi Crown Prince Muhammad bin Salman Al Saud arrived in the Sultanate of Oman to break down the remaining items on the agenda. According to an official statement from the Royal Court of Saudi Arabia, Muhammad bin Salman will initiate official visits to all countries of the Cooperation Council for the Arab States of the Gulf. Therefore, his first visit is a 2-day trip to Oman that is currently underway.

The importance of the Gulf Cooperation Council

The Gulf Cooperation Council (GCC) is an intergovernmental political and economic union of 6 Middle Eastern and Gulf states. It seeks to align the objectives of the Member States’ foreign policies for in-depth regional cooperation. The Union is based on common qualities and similar political systems founded on the creed of Islam. Thus, the importance of the GCC lies in strengthening the interests of the Arab world by underpinning security, economic and political solidity.

The Omani-Saudi Business Forum

On the other hand, the Omani-Saudi Forum discussed investment opportunities and economic cooperation between Saudi and Omani companies. During the meeting, companies owned by the Oman Investment Authority signed 13 memoranda of understanding with their counterparts from the Kingdom of Saudi Arabia. All of them, including the Ministry of Commerce, Industry, and Investment Promotion, supported public-private partnership initiatives.

In addition to that, Omran Group, an Omani company, and Dar Al Arkan Development Company, from Saudi Arabia signed a tourism investment agreement to expand a tourism project in Yeti Beach, Oman. Finally, and as Ridha Jumaa Al Saleh, president of the Oman Chamber of Commerce and Industry, said, a manifestation of deeply ingrained historical relations between Oman and Saudi Arabia and the sharpness of their leadership requires that the authorities intensify efforts to satisfy the aspirations of the two countries population.