The Sultanate of Oman and China signed an agreement for currency exchange between the Central Bank of Oman and the People's Bank of China, along with a cooperation protocol and 14 memoranda of understanding, during a state visit by Sultan Haitham bin Tariq to Beijing. Chinese President Xi Jinping officially received Sultan Haitham in the Great Hall of the People in the Chinese capital, as part of a two-day visit.
Areas of Diverse Cooperation
The signed memoranda of understanding covered diverse areas, including enhancing investment cooperation in green development, media, science and technology, securities and futures regulation, the digital economy, peaceful uses of space and applications of the "Beidou" navigation system. The memoranda also covered central bank digital currencies, supply chain investment, competition protection, vegetation development, and historical documentation.
Extensive Talks and Large Investments
In this context, Sultan Haitham and President Xi held an extensive official meeting discussing ways to enhance cooperation in technology, artificial intelligence, renewable energy, manufacturing industries, and logistics. Sultan Haitham praised the development of bilateral relations, noting that China has become Oman's first trading partner, and projected that direct investments by Chinese companies would exceed 33 billion yuan (approximately 4.96 billion US dollars) in recent years.
History of Diplomatic Relations
This visit comes in response to an invitation from the Chinese President and is the first by an Omani Sultan since diplomatic relations were established between the two countries in 1978, during which a strategic partnership was announced in May 2018. Sultan Haitham affirmed Oman's openness to entering a bilateral preferential trade and investment agreement, focusing on industries related to renewable energy, digital technologies, and space.
Source: Anadolu Agency
Comments (0)