MUSCAT: The Unified Arab Economic Report for 2021, issued by the League of Arab States on Tuesday, confirmed that the UAE, Saudi Arabia and Qatar account for 76.5 percent of the Sultanate of Oman’s intra-Arab exports.

The report indicated that Oman, the UAE and Kuwait account for about 87.9 percent of Qatar’s intra-Arab exports to Arab countries, while 62 percent of the UAE’s intra-Arab exports are concentrated on Saudi Arabia and the Sultanate of Oman.

The report also stated that the Sultanate of Oman is working to implement the national program to promote economic diversification, in line with Oman’s 2040 vision, to gradually get rid of heavy dependence on oil, by increasing public-private partnership investments. This contributes to increasing the level of non-oil exports, and enhances efficiency and productivity of the private sector.

The Sultanate has worked to implement the medium-term financial balance plan, which focuses on economic diversification, financial sustainability, support for the private sector, international investment, and governance of the administrative sector.

The economic report provides an economic analysis and a unified base of data and information on the economies of the Arab world.

This enables the Arab finance and economy ministers and the governors of Arab central banks and monetary institutions, during their periodic meetings, and those interested in Arab economic affairs.

It also aids in discussing the most important issues facing Arab countries, both with regard to In the relations between the Arab countries, or in relation to the relations between them and the countries of the outside world.

The Assistant Secretary-General for Economic Affairs, Ambassador Mubarak Al-Hajri, said in a speech during the launch ceremony of the report that this report is a new fruit of joint Arab economic cooperation, as it is an important economic document at a time when the global economy is witnessing the repercussions of political crises, wars and economic crises that are almost ravaging the economies of countries. .

He added that the Arab countries are not immune from these challenges, which necessitates concerted and unified efforts among the countries of the Arab region, and to achieve more joint cooperation between Arab labour organisations to confront these challenges of unemployment and poverty, and the dwindling of industrial exports with high added value and others.

Al-Hajri indicated that the existence of such economic documents has become very important, in light of these challenges, and thanks to the team of the General Secretariat of the League that contributed to preparing the report, as well as to the researchers participating in its preparation from the Arab Monetary Fund, the Arab Fund for Economic and Social Development and the Organization of Arab Petroleum Exporting Countries.