MUSCAT: Observing that India represents about seven percent of the total world economy in purchasing power parity (PPP) terms, His Excellency Qais Al Yousef, Oman’s Minister of Commerce, Industry and Investment Promotion invited Indian businesses to invest in the Sultanate

“This is our 10th Joint Commission meeting but our relationship goes back to over 5000 years connecting both the countries together with geography, history and most importantly with people and thats what makes it special,” Al Yousef said.

Indian investment in Oman which toped US$7.5 billion in 2022 was one of the key topics discussed during the meeting.

“Under the wise guidance of His Majesty Sultan Haitham bin Tarik and with the ambitious framework provided by Oman Vision 2040, I see enormous possibilities for what our two countries can achieve together in areas from renewable energy and pharmaceuticals to new partnerships in small business development and manufacturing – areas where Oman and India have common interest and expertise,” he said.

“India has long been an important partner for Oman and there are real opportunities to further strengthen commercial relations between our two countries, particularly in manufacturing, renewables, healthcare, tourism, mining and logistics. By working together, business-to-business, government-to-government, and as people, we can, I believe, build a brighter, more prosperous future for India and Oman,” he added.