The Oman’s Ministry of Economy has received a high-level Russian delegation led by Maxim Reshetnikov, Minister of Economic Development of the Russian Federation and Chairman of the Russian side of the Omani-Russian Joint Governmental Committee, as part of ongoing efforts to strengthen bilateral relations and expand economic cooperation between the nations.
The visit underscores both countries’ commitment to enhancing trade, investment flows and strategic partnerships across key sectors, in line with shared economic priorities and long-term development goals.
During the visit, officials held a meeting that included a visual presentation outlining the key features of Oman’s economy and recent developments driven by modern economic policies. The session also highlighted bilateral economic relations and identified promising sectors for cooperation, while reviewing the objectives of Oman Vision 2040 aimed at advancing economic diversification.
Discussions focused on strengthening economic partnerships, boosting trade exchange and encouraging mutual investments, particularly in priority sectors such as energy, industry, logistics, food security and advanced technologies. Both sides emphasized the importance of fostering an attractive business environment and enhancing collaboration between public and private sector stakeholders to support sustainable and strategic partnerships.
Officials also reaffirmed their commitment to expanding bilateral cooperation and exploring new opportunities across multiple economic sectors, supporting sustainable development goals and reinforcing the position of both nations as key economic partners regionally and globally.
According to the latest data from the National Centre for Statistics and Information for 2026, Oman’s imports from Russia totaled approximately $228.3 million (RO 87,909,321), while Omani exports to Russia reached $7.7 million (RO 2,958,455). Total bilateral trade stood at around $236 million (RO 90,867,776), highlighting potential to further enhance trade balance and economic ties in the coming period.
The meeting was attended by senior Omani officials, including Dr Nasser Rashid Al Maawali, Undersecretary of the Ministry of Economy, and Sayyid Dr Munthir Hilal Al Busaidi, Head of the Oman Vision 2040 Implementation Follow-up Unit, along with other ministry representatives.
