Sunday 07 / July / 2024
Muscat: The commencement of the visit by Federal Republic of Germany President Dr. Frank-Walter Steinmeier to the Sultanate of Oman on Monday signifies yet another momentous chapter in the enduring bilateral relations between the two nations.
The relationship between the Sultanate of Oman and the Federal Republic of Germany has experienced remarkable growth across all sectors in recent times.
This growth is rooted in the longstanding diplomatic ties spanning over 50 years between the two countries.
The pivotal visit of His Majesty Sultan Haitham bin Tarik to Germany in July 2022 further fortified these ties, heralding a new era of enhanced economic relations, particularly in renewable energy, green hydrogen, and various other spheres. During His Majesty the Sultan’s visit to Germany, discussions with Dr. Frank-Walter Steinmeier focused on bolstering cooperation between the two nations, aiming to support development that aligns with the interests and aspirations of the people of Oman and Germany.
Moreover, His Majesty the Sultan engaged with numerous German business leaders, chief executives, and company representatives to elevate trade relations and explore investment prospects between both nations.
The visit witnessed the signing of a joint declaration of intent for cooperation in the energy sector, reflecting mutual interest in strengthening ties for collective benefit.
The imminent visit of Dr. Frank-Walter Steinmeier on Monday is poised to further amplify bilateral relations, anticipated to catalyse trade and investment opportunities between the two nations.
Discussions between the leaders will encompass pivotal issues and regional events, underpinned by the foundation of goodwill and mutual trust in addressing contemporary challenges.
The Omani-German Joint Committee is diligently working to foster and expand cooperation through strategic meetings, aiming to facilitate increased trade, deepen economic collaboration, and augment investment prospects in energy, technology, culture, and science sectors.
The Omani-German Friendship Association, established in the early 1970s, serves as a vital conduit bridging the two countries, at the behest of civil society leaders aiming to fortify cooperation and ties.
Oman and Germany have forged several bilateral agreements and memoranda of understanding, focusing on economic and industrial cooperation, investment augmentation, air services organisation, and healthcare collaboration. The trade volume between the two countries exceeded OMR214 million by the conclusion of 2022.
Key exports from the Sultanate of Oman to Germany encompass methanol and polyethylene products, aluminum, electrical items, and food commodities like fish, while Germany’s exports to Oman include vehicles, machinery, electronic devices, medicines, and various food items.
By the end of 2022, the number of registered German companies in the Sultanate stood at 44, with a collective invested capital surpassing OMR16 million across diverse sectors such as construction, mining, quarries, industry, health, and the oil and gas sectors.
