The Sultanate of Oman and the Republic of Korea have discussed opportunities to expand bilateral economic cooperation and strengthen investment relations across several priority sectors.
HE Qais bin Mohammed Al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) and Chairman of the Omani side of the Omani-Korean Joint Committee, held talks via video conference with HE Jung Kwan Kim, Minister of Trade, Industry, and Energy of the Republic of Korea and Chairman of the Korean side of the Joint Committee.
The meeting focused on ways to further develop Omani-Korean relations and enhance cooperation in areas of mutual economic interest.
Discussions covered several sectors, including oil and gas, green hydrogen, artificial intelligence technologies, and the automotive and vehicle industry.
The two sides also reviewed opportunities to support the development of small and medium-sized enterprises (SMEs) and encourage greater collaboration between businesses in both countries.
During the meeting, officials highlighted the importance of strengthening cooperation between special economic zones and free zones in Oman and South Korea.
They discussed the exchange of expertise and experiences in the management and development of these zones, with the aim of supporting economic and development objectives and facilitating investment activities.
Image via ONA | Cropped by GBN
The meeting also addressed operational and logistical requirements related to Korean companies operating in the Duqm Special Economic Zone.
The countries reviewed ways to facilitate business operations and improve logistical processes, which could support the business environment and contribute to attracting additional Korean investments to Oman.
The meeting formed part of ongoing coordination efforts between the two countries in preparation for the next meeting of the Omani-Korean Joint Committee, which is expected to be held during the fourth quarter of this year.
The Joint Committee serves as a platform for reviewing bilateral relations and identifying opportunities for cooperation in trade, investment, industry, and other sectors of common interest.
