Oman expands strategic economic cooperation with ASEAN

Oman economic cooperation with ASEAN-GCC Business News
Rep Image | Credits: Magnific | Cropped by GBN
By Staff Writer, GCC Business News

The Sultanate of Oman is participating in the 59th Meeting of the Foreign Ministers of the Association of Southeast Asian Nations (ASEAN), being held in Manila, the Philippines, to expand economic cooperation with Southeast Asian countries.

The participation is aimed at strengthening trade, investment, and cooperation with ASEAN member states across sectors, including logistics, maritime transport, energy, green hydrogen, food security, tourism, digital transformation, emerging technologies, and advanced manufacturing.

The Philippines is hosting the 2026 ASEAN Ministerial Meeting under the theme ‘Exploring the Future Together.’ The meeting brings together foreign ministers and dialogue partners to discuss regional cooperation and economic priorities.

Oman’s participation also coincides with the 50th anniversary of the Treaty of Amity and Cooperation in Southeast Asia (TAC), a framework that promotes peaceful relations and cooperation among participating countries.

The Sultanate joined the treaty in 2022 under Royal Decree No. 7/2023, reaffirming its support for the principles of dialogue, mutual respect, peaceful coexistence, and international law.

Trade between Oman and ASEAN member states has continued to grow recently. Official data showed that merchandise trade between Oman and ASEAN countries reached approximately $15 billion by the end of October 2024.

During the same period, Oman’s trade surplus with ASEAN countries stood at around $3.4 billion, reflecting the growing importance of Southeast Asia as a trading partner for the Sultanate.

The ministerial meeting provides Oman with an opportunity to engage with ASEAN countries on trade, investment, and sectoral cooperation while supporting the Sultanate’s efforts to expand economic partnerships in Southeast Asia.

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