Oman & Uzbekistan: Exploring trade, investment and economic partnerships

详细摘要

Economic and investment relations between the Sultanate of Oman and the friendly Republic of Uzbekistan are witnessing an advanced stage of ...

Economic and investment relations between the Sultanate of Oman and the friendly Republic of Uzbekistan are witnessing an advanced stage of growth and expansion. This is driven by a growing shared political will to strengthen bilateral partnership and to leverage the economic and investment assets of both countries. Such efforts are opening new horizons for cooperation in trade, industry, transport, logistics, food security and tourism.

Diplomatic relations between the Sultanate of Oman and the Republic of Uzbekistan were established on 22 April 1992. Relations between the two countries are founded on historical and commercial ties dating back to the Silk Road. In recent years, these ties have expanded markedly in trade, investment, industry, transport, logistics, energy and tourism. Several economic agreements have reinforced this expansion. These include the Agreement on the Avoidance of Double Taxation and the Prevention of Tax Evasion with Respect to Taxes on Income and Capital, and the Agreement on the Encouragement and Reciprocal Protection of Investments. Both were signed in Tashkent on March 30, 2009.

On October 5, 2009, the two countries signed a Trade and Economic Cooperation Agreement, together with an Agreement on the Foundations of Cooperation and Relations. These agreements provided an institutional framework for developing economic cooperation between the two sides. The two countries are also bound by an Air Services Agreement signed in Muscat.

The Omani Uzbek Investment Company was established as a partnership between Oman Investment Authority and the Uzbekistan Fund for Reconstruction and Development. It has a capital of RO 76.9 million (USD 200 million) and invests in sectors including industry, financial services, logistics, infrastructure, real estate and other economic sectors.

On October 15, 2024, Asyad Group and the Uzbek Ministry of Investment, Industry and Trade signed a memorandum of understanding to explore commercial opportunities in the…

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