Oman, USA discuss trade and investment promotion
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The Sultanate of Oman and the United States of America (USA) convened the 2nd Strategic Dialogue in Washington to explore avenues for enhancing trade and investment and addressing common challenges.
The Omani side was chaired by Sheikh Khalifa Ali Al Harthy, Undersecretary of the Foreign Ministry for Political Affairs, while the USA side was chaired by Jose W. Fernandez, Under Secretary for Economic Growth, Energy, and the Environment at the US Department of State.
The dialogue centred on opportunities for US companies in the Omani market, with a focus on information and communication technology services, semiconductors and clean energy.
Both nations discussed collaboration in demonstrating and deploying carbon capture, use and storage technologies, including technical exchanges, investment and trade missions. Oman's Ministry of Energy and Minerals, in collaboration with the US Department of Energy, hosted a technical workshop in Muscat in September 2023, reinforcing cooperation on geologic carbon.
The two sides committed to strengthening cooperation in developing clean energy solutions, leveraging US private sector expertise and investing in critical minerals essential for the clean energy transition.
Environmental priorities were addressed within the framework of the US-Oman Memorandum of Understanding on Environmental Cooperation. Efforts were made to connect researchers from Omani universities with colleagues in American research centres to advance scientific research on clean energy.
The United States and Oman anticipate expanding cultural, educational and scientific exchanges in priority fields, including artificial intelligence, higher education, and the media and film industries.
Both parties expressed a desire to increase the number of Omani students studying in the United States and vice versa.
Efforts to promote mutual prosperity were highlighted, including the Memorandum of Understanding signed between the Export-Import Bank of the United States and the Oman Ministry of Finance in 2023. Additionally, the establishment of the Commercial Attaché's office at the Embassy of Oman in Washington aims to facilitate procurement for projects in Oman.