Saudi Gazette report

RIYADH — Saudi Arabia and Oman discussed on Wednesday enhancing the trade and economic partnership between the two countries at a time when the trade volume between the two neighbors reached SR 36.8 billion and the Saudi exports to Oman amounted to SR 22.5 billion.

The discussions were held during the visit of Omani Minister of Economy Dr. Said Al-Saqri and his accompanying delegation to the Kingdom. Minister of Commerce and Chairman of the National Competitiveness Center (NCC) Dr. Majed Al-Qasabi, headed the Saudi delegation that attended the meeting with the Omani side.

The meeting dealt with various economic topics that the Gulf Cooperation Council (GCC) countries are working on to increase their intra-regional and external trade.

Addressing the meeting, Dr. Al-Qasabi emphasized that the economic reforms in the Kingdom have been carried out under the support and guidance of Crown Prince and Prime Minister Mohammed bin Salman. He also highlighted that these reforms align with Saudi Vision 2030, which aims to implement structural reforms in the economic sectors and enhance sustainable economic growth in light of the significant development potential and opportunities available in the Kingdom.

Dr. Al-Qasabi noted that the reforms have enhanced the attractiveness of the business environment, increased the Kingdom's global competitiveness, and achieved positive performance for the Saudi economy in reputable global reports and indicators. He also pointed out that the ongoing implementation of initiatives and programs aimed at developing and improving the business environment in the Kingdom, including the efforts of the NCC, which collaborates with relevant government entities to propose and develop policies and procedures that enhance competitiveness.