Oman, UK explore means of enhancing investment cooperation

Muscat: Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, on Monday conferred with Nigel Huddleston, Minister of State for International Trade in the United Kingdom (UK), about means of consolidating areas of cooperation between Oman and Britain in the commercial and investment sectors.

The two, who met via videoconferencing, discussed ways of encouraging direct investment in accordance with the laws and regulations governing business in the two friendly countries. Foreign direct investment (FDI) from the UK constitutes 51% the total FDI in the Sultanate of Oman.

During the meeting, the two sides reviewed indicators of intra-trade growth, means of augmenting commercial exchange and investments and the progress made in negotiations on the UK-GCC Free Trade Agreement. The meeting also touched on ways of enhancing Oman’s participation in international conferences held in the UK.