The Egyptian Commercial Service Authority and and the Omani Ministry of Commerce, Industry, and Investment Promotion signed a Memorandum of Understanding (MoU) aims to enhance investment promotion and export development.

The MoU aims to establish a bilateral framework for investment cooperation and export development, facilitating the exchange of technical knowledge, consultation, and expertise.

 Additionally, it provides a platform for collaboration in key investment promotion sectors, including agriculture and food security, tourism, logistics and transportation, infrastructure projects, industry, and information technology.

This was in the presence of Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, and Ambassador Abdullah Al-Rahbi, Oman’s Ambassador to Cairo.

Minister El-Khatib emphasized the strong and long-standing bilateral relations between Egypt and Oman, built on a history of cooperation and shared visions. He highlighted the importance of the MoU in boosting trade volumes and fostering joint investments between the two countries in the coming period.

Ambassador Abdullah Al-Rahbi reaffirmed that the MoU is a reflection of the strong ties between Egypt and Oman and represents a significant step toward enhancing economic cooperation.

He noted the remarkable growth in economic relations between the two nations, with bilateral trade doubling in recent years to reach $1.3 billion.

Yahia El-Wathiq Billah, Head of the Egyptian Commercial Representation Authority, emphasized that the MoU aligns with efforts to strengthen Egypt-Oman trade and investment partnerships.