Dr. Hala El-Said, Egypt's Minister of Planning and Economic Development, met with Qais bin Mohammed Musa Al-Yousef, Oman's Minister of Commerce, Industry, and Investment Promotion. The meeting, which aimed to enhance cooperation, was attended by Ambassador Hazem Khairat, Director of the International Cooperation Office, Kamal Nasr, Assistant Minister for Technical Office Affairs, Wael Ziyada, Assistant Minister for Economic and Investment Affairs, and from the Omani side, Ghaleb bin Said bin Ali Al-Harthy, Head of the Minister's Office, and Hafsa Al Balushi, Director of Investor Relations.
The historical and extended Egyptian-Omani relations represent a strong model of Arab-Arab relationships. The recent periods have seen a consolidation of economic and investment relations between the two countries.
Dr. El-Said praised the efforts of the Omani Sovereign Investment Fund in setting up regulations and laws for the fund and overcoming challenges, being one of the oldest sovereign funds. She noted that Egypt benefited from Oman's experience in establishing the Egyptian Sovereign Fund. Current discussions are underway to establish an Egyptian-Omani fund to invest in specific fields like agricultural industries, food processing, and pharmaceuticals.
Qais bin Mohammed Musa Al-Yousef commended the Egyptian-Omani relations, emphasizing that reciprocal meetings between the two countries to discuss expanded files and different relations support and confirm their correct direction. His visit to Egypt included meetings with several ministers and heads of major institutions. An agreement was reached to form a technical team to study industrial sector integration between the concerned ministries, explore opportunities in both countries, discuss the free trade agreement, build upon it, and study the industrial strategy and incentives to benefit from them.
This meeting signifies the deepening economic and investment ties between Egypt and Oman, reflecting the mutual interest in expanding collaboration in key sectors. The proposed joint fund is an ambitious step towards fostering economic growth and diversification in both countries.
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