A meeting of the Coordination Committee in the fields of economy, trade and industry discusses the achievements and integrated development between the Sultanate of Oman and the Kingdom of Saudi Arabia

The story in brief

Today, the Ministry of Commerce, Industry and Investment Promotion held the seventh meeting of Their Excellencies the heads of the Coordination Committee in the fields of economy, trade and industry emanating from the Omani-Saudi Coordination Council, in the presence of Their Excellencies and a number of officials from both sides, at Al Baleed Products in Salalah. His Excellency Engineer Ghaleb bin Saeed Al-Maamari, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry and Chairman of the Coordination Committee in the fields of economy, trade and industry emanating from the Omani-Saudi Coordination Council, said that the fraternal and historical relations that unite the Sultanate of Oman and the Kingdom of Arabia Sisterly Saudi Arabia represents a solid base for raising the levels of cooperation and integration towards broader horizons in a way that serves the common interests of the two countries and the two brotherly peoples and opens more promising opportunities in the mutual economic, commercial and industrial fields. He stressed that the meeting comes within the framework of the keenness to review and evaluate the initiatives that fall within the objectives of the committee, identify the achievements achieved and discuss opportunities for development and integration. possible, as well as discussing and identifying priority initiatives that would create tangible added value during the next phase. The Undersecretary of the Ministry of Trade and Industry and Investment Promotion for Trade and Industry added: We look forward, through this meeting, to crystallizing a clear and comprehensive vision regarding the proposed initiatives and determining their implementation paths and priorities in a way that ensures the transition from the stage of presenting ideas and visions to the stage of actual implementation of projects and programs according to a clear methodology and specific outputs that keep pace with the level of ambitions and aspirations placed on the work of this committee. On the other hand, His Excellency Engineer Rakan Bin Waddah explained. Trabzoni, Undersecretary of the Ministry of Economy and Planning for International Economic Affairs and Chairman of the Coordination Committee in the Fields of Economy, Trade and Industry emanating from the Omani-Saudi Coordination Council, said that the meeting comes as an extension of ongoing efforts under the umbrella of the Omani-Saudi Coordination Council, indicating that the platform has effectively contributed to developing joint initiatives and supporting economic integration, and the committee has witnessed progress during the last period. It is clear in the number of initiatives that enhances confidence in our ability to move to more mature stages of joint work. He pointed out that the economic relations between the Kingdom of Saudi Arabia and the Sultanate of Oman have witnessed, in recent years, rapid growth and qualitative development, which was reflected in strengthening the economic partnership, facilitating customs procedures, and developing the joint logistical infrastructure, which contributed to a noticeable increase in the volume of trade exchange between the two countries and supporting the process of economic integration and sustainable development. The meeting included a review of the achievements of the existing and proposed initiatives and the signing of the executive program to activate a memorandum. Understanding between the Ministry of Economy in the Sultanate of Oman and the Ministry of Economy and Planning in the Kingdom of Saudi Arabia in the field of economy and planning for the years (2026-2028).

Detailed summary

Background & context

This story sits within Saudi Arabia's broader reform agenda and efforts to grow Technology as a pillar of non-oil GDP. The region benefits from supportive energy prices, expansionary government budgets, and rising interest from sovereign wealth funds and foreign investors.

GCC angle

For the rest of the GCC, this is a signal on the pace of activity in Technology. Capital flows and regulatory decisions in one Gulf state typically travel across borders given the similar economic structures and the coordination inside the GCC framework.

Risks & uncertainty

There is uncertainty around the read-through: projections can be moved by swings in oil prices, by US monetary policy tightening that most GCC central banks track via dollar pegs, and by regional geopolitical events. Headline numbers may also be revised when subsequent official data is published.

What happens next?

Watch for upcoming disclosures from listed names in Technology, official macro releases for Saudi Arabia, and any commentary from regulators or sovereign wealth funds. Tharwa will refresh this briefing as new public information becomes available.