Oman and Kuwait Strengthen Ties with 4 Key Agreements During Sultan's Visit

Sultan Haitham bin Tarik of Oman embarked on a two-day state visit to Kuwait on Monday, marking a significant milestone in the historical relations between the two Gulf nations. The visit, which included the signing of four key memorandums of understanding (MoUs), reflects the mutual commitment to expanding cooperation and integration across various sectors.

Why this matters: The strengthening of ties between Oman and Kuwait has significant implications for regional stability and economic cooperation in the Gulf region. As both countries continue to diversify their economies and invest in key sectors, this partnership could have far-reaching consequences for trade and investment opportunities in the region.

Upon his arrival at the Amiri Airport, Sultan Haitham was received by Sheikh Mishaal Al Ahmad Al Jaber Al Sabah, Emir of Kuwait, along with other senior Kuwaiti officials. The Sultan was given a grand welcome, with official reception protocols conducted, including the playing of the Omani Royal Anthem and the Kuwaiti National Anthem.

During the visit, Sultan Haitham held an official session of talks with the Emir of Kuwait at Bayan Palace, discussing bilateral relations and ways to enhance cooperation between the two countries. The meeting between the two leaders is seen as a pivotal moment in strengthening unity among Gulf Cooperation Council (GCC) nations.

The highlight of the visit was the signing of four MoUs aimed at bolstering cooperation in key areas. The agreements cover direct investment, metrology, diplomatic studies, and training. These MoUs establish frameworks for cooperation, facilitate the exchange of knowledge and experiences, and explore future investment opportunities in both countries.

The MoU on direct investment, signed between the Oman Investment Authority (OIA) and the Kuwait Investment Authority, seeks to establish a common framework for cooperation and coordination in joint investments. It also aims to explore future investment opportunities and study investment opportunities in existing investment funds affiliated with the OIA.

In the field of metrology, an MoU was signed between the Ministry of Commerce, Industry and Investment Promotion of Oman and the Kuwait Public Authority for Industry. This agreement aims to strengthen cooperation in standardization, quality laboratories, and conformity assessment activities, ultimately raising the quality of non-food industrial products and services exchanged between the two countries.

The MoU on diplomatic studies and training, signed between the foreign ministries of Oman and Kuwait, focuses on cooperating, developing, and proposing modern methods for training specialists in foreign policy, international relations, political science, and other related fields. It also facilitates the exchange of documents, studies, and experiences on topics of mutual interest.

The ties between Oman and Kuwait date back centuries, with familial and commercial relations between the two nations. In 1990, Oman condemned the Iraqi invasion of Kuwait and actively participated in the liberation of Kuwait in 1991. Since then, the leaderships of both countries have made frequent visits to each other to strengthen ties.

The value of non-oil trade exchange between the two countries reached KD 124 million (approximately USD 403.2 million) in 2023, a 20.4% increase from KD 103 million (approximately USD 334.9 million) in 2022. Kuwait's Minister of Trade and Industry and Minister of State for Communications Affairs, Omar Al-Omar, highlighted the strength and diversity of trade relations between the two countries.

The Oman-Kuwait Business and Investment Forum, held during the visit, aimed to exchange visions and ideas, explore investment opportunities, discuss challenges, and provide recommendations for improving trade and investment exchange. Omani Minister of Trade, Industry and Investment Promotion, Qais Al-Yousef, emphasized the importance of diversifying imports and enhancing exports, urging business owners to explore emerging opportunities in both markets.

The signing of the four MoUs during Sultan Haitham bin Tarik's state visit to Kuwait marks another significant step in strengthening the historic ties between the two nations. As Qais Al-Yousef stated, "The sisterly State of Kuwait is a vital strategic partner for the Sultanate of Oman." The agreements reflect the keenness of both countries to work together in various fields, consolidating their bonds and aligning with their broader strategic interests in the region.

Key Takeaways

• Oman's Sultan Haitham bin Tarik visited Kuwait, marking a milestone in their historical relations.
• Four MoUs were signed, covering direct investment, metrology, diplomatic studies, and training.
• The agreements aim to strengthen cooperation, facilitate knowledge exchange, and explore investment opportunities.
• Non-oil trade exchange between Oman and Kuwait reached $403.2 million in 2023, a 20.4% increase from 2022.
• The visit and MoUs signed reflect the mutual commitment to expanding cooperation and integration in the Gulf region.