Saudi Commerce Minister Dr. Majid Al-Kassabi Meets Omani Economy Minister To Enhance Trade Relations

Dr. Majid bin Abdullah Al-Kassabi, the Minister of Commerce and Chairman of the National Competitiveness Center (NCC), met with Dr. Said Al-Saqri, Oman's Minister of Economy, on Wednesday. The meeting focused on strengthening trade and economic ties between Saudi Arabia and Oman. They also discussed various economic issues that the Gulf Cooperation Council (GCC) countries are addressing to boost both regional and international trade.

Dr. Al-Kassabi highlighted that Saudi Arabia's economic reforms have been guided by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. These reforms align with Saudi Vision 2030, aiming to implement structural changes in economic sectors and promote sustainable growth by leveraging the Kingdom's development potential.

The reforms have made Saudi Arabia's business environment more attractive, enhancing its global competitiveness. This has resulted in positive outcomes for the Saudi economy in respected international reports and indicators. Dr. Al-Kassabi emphasized ongoing initiatives to further develop and improve the business climate in the Kingdom.

The NCC plays a crucial role in these efforts by working with relevant government bodies to propose policies that enhance competitiveness. Dr. Al-Kassabi noted that these initiatives are part of a broader strategy to support economic growth and development within Saudi Arabia.

The trade volume between Saudi Arabia and Oman reached SAR 36.8 billion, with Saudi exports accounting for SAR 22.5 billion of this total. This significant trade relationship underscores the importance of continued collaboration between the two nations to foster economic prosperity.

During discussions, Dr. Al-Kassabi reiterated the Kingdom's commitment to fostering strong economic partnerships within the GCC region. He stressed that such collaborations are vital for increasing intra-regional trade and enhancing external trade opportunities.

The meeting concluded with both sides expressing their commitment to further strengthening their economic partnership, ensuring mutual benefits for both countries as they continue to work together on shared goals within the GCC framework.

With inputs from SPA