Muscat: The State of Qatar and the Sultanate of Oman have signed two Memoranda of Understanding (MoUs) aimed at strengthening partnership, trade, and investment integration between the two nations. This development occurred on the sidelines of the 24th session of the Qatari-Omani Joint Committee, which took place in Muscat from December 10-11.

According to Qatar News Agency, the first MoU was signed by HE Minister of Finance Ali bin Ahmed Al Kuwari on behalf of Qatar, while the Omani side was represented by HE Minister of Finance of Oman. This agreement focuses on enhancing cooperation in financing and credit facilities through the Qatar Development Bank's buyer credit program. It supports projects in Oman's Ministry of Finance's budget and leverages Qatari capabilities in export and financing, thereby boosting the competitiveness of Qatari exports and contributing to economic diversification in both countries.

Furthermore, HE Minister of Finance witnessed the signing of another MoU between the Qatar Development Bank and Oman's Ministry of Commerce, Industry, and Investment Promotion. This agreement aims to promote trade and facilitate exports, further solidifying economic ties between the two countries.

During the event, His Excellency highlighted the significance of these agreements, noting their role in fostering economic integration based on a shared vision. The MoUs represent a crucial step in advancing bilateral partnerships and supporting efforts towards diversified and sustainable economies.

The Qatari-Omani Joint Committee has been a platform for cooperation since its inaugural meeting in Doha in April 1995. Meetings have alternated between the two nations, fostering ongoing collaboration and joint coordination.