Oman, Uzbekistan to expand trade and investment ties

Detailed summary

MUSCAT: Economic relations between the Sultanate of Oman and Uzbekistan are entering a new phase of growth, driven by strong political will and ...

MUSCAT: Economic relations between the Sultanate of Oman and Uzbekistan are entering a new phase of growth, driven by strong political will and a shared ambition to expand trade, investment and strategic partnerships across several sectors.

The upcoming state visit of Uzbekistan President Shavkat Mirziyoyev to Oman on November 16 is expected to provide fresh momentum to bilateral cooperation, particularly in trade, industry, transport, logistics, food security and tourism.

Diplomatic relations between the two countries were established on April 22, 1992, building on historical and commercial connections dating back to the Silk Road. Cooperation has expanded in recent years through agreements covering investment protection, avoidance of double taxation, trade and economic cooperation, and air services.

The Omani-Uzbek Investment Company, established through a partnership between Oman Investment Authority and Uzbekistan's Fund for Reconstruction and Development, has a capital of RO76.9 million ($200 million) and invests in sectors including industry, financial services, logistics, infrastructure and real estate.

Cooperation in logistics has also gained momentum. In October 2024, Asyad Group and Uzbekistan's Ministry of Investment, Industry and Trade signed an agreement to explore opportunities involving dry ports, railways, warehouses, air freight and e-commerce.

In another significant development, Oman Air launched its first direct flights between Muscat and Tashkent in July 2026, operating twice weekly. The route is expected to facilitate business, investment and tourism exchanges.

The sixth session of the Omani-Uzbek Joint Committee is scheduled to be held in Muscat on Sunday, following its fifth session in Tashkent in June 2025. Previous discussions focused on increasing air transport operating rights and facilitating the re-export of Uzbek products through Omani ports.

Statistics from the National Centre for Statistics and Information show that bilateral trade…

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