It strengthens the solid relations between the two brotherly countries
UAE and Oman sign memoranda of cooperation
Signing memoranda of cooperation in the fields of culture, media, railways, education, scientific research, agricultural wealth and capital markets.
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The UAE and the sisterly Sultanate of Oman signed a number of memoranda of joint cooperation, on the sidelines of the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, to the Sultanate of Oman.
The memoranda of cooperation cover a wide range of areas that enhance the solid relations between the two brotherly countries, including cooperation in culture, media, railways, education, scientific research, agricultural wealth and financial markets.
The agreements included a memorandum of understanding between the Ministry of Industry and Advanced Technology and the Ministry of Commerce and Industry and Oman Investment Promotion regarding cooperation and investment in the fields of industry.
The memorandum aims to encourage industrial integration in priority industries and products, and facilitate procedures for industrial investors in both countries, especially in the field of advanced industries such as space, medical and agricultural technology, aviation and the establishment of smart factories.
Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said: “This agreement is in line with the directives of the wise leadership and its keenness to consolidate brotherly relations between the two brotherly countries, which are based on close historical ties of integration and development of common interests.
The agreement is also in line with efforts to explore opportunities for cooperation and joint investment in strategic and vital areas, such as the industrial sector and advanced technology, which is a major contributor to promoting sustainable economic growth, in line with the UAE and Omani strategic objectives.
He pointed out that the agreement benefits from the common desire to develop policies and strategies, enable joint industrial complexes, exchange expertise, scientific and technical information and research and development results, in addition to activating complementary initiatives and projects in the industrial sector, and facilitating trade exchange between the two countries.
The memorandum also aims to support and facilitate cooperation between businessmen and companies operating in the industrial sector in the two countries, leading to technical training and conducting inter-comparisons of national measurement standards between the national institutes of the two countries.
With regard to strengthening cooperation between the two countries in the youth and culture sectors, a memorandum of understanding was signed between the ministries of culture and youth, which includes cooperation and strengthening the distinguished relations between the two countries in the cultural and youth fields. The memorandum stipulates that the two parties exchange experiences, information and experts in the cultural field and youth, especially within the arts sectors And libraries, in order to enhance the role of cultural dialogue and youth meetings, exchange visits between officials in the culture and youth sector, writers, thinkers and experts working in the field of youth to cooperate in youth policies and youth work.
The two sides signed a memorandum of understanding between the Ministry of Energy and Infrastructure and the Ministry of Energy and Minerals in the Sultanate of Oman, and the memorandum provides for cooperation in promoting means of transformation in the field of energy, renewable energy technologies, and energy efficiency, especially oil, gas and hydrogen, in addition to the areas of carbon capture, use and storage (CCUS) technology. ), the applications of artificial intelligence in energy and its management, the exchange of information, knowledge and experiences, and the holding of high-level meetings to discuss issues of mutual benefit.
In the education sector, a memorandum of understanding was signed between the Ministry of Education and the Ministry of Higher Education, Scientific Research and Innovation in the Sultanate of Oman. The memorandum of understanding aims to exchange experiences, regulations, laws and regulations governing higher education, scientific research, innovation and vocational training, and information related to licensing and accreditation systems and standards, and standards related to quality assurance for institutions. Higher education and vocational training, in addition to exchanging experiences in developing and stimulating scientific research, innovation incubators and business accelerators.
The move encourages building cooperation relations between institutions of higher education, scientific research and practical training, with the aim of exchanging expertise and experiences in the academic, research and professional fields, and other areas of common interest that support the development of relations between the two countries and the two brotherly peoples.
A memorandum of understanding was also signed between the Ministry of Climate Change and Environment and the Ministry of Agricultural, Fisheries, Livestock and Water Resources, which comes within the framework of mutual historical relations, efforts to enhance security, sustainability and food safety, and to promote and develop cooperation in the fields of agricultural, livestock, fisheries and food safety.
In the field of cooperation on transportation and logistics, a memorandum of understanding was signed between the Ministry of Energy and Infrastructure and the Ministry of Transport, Communications and Information Technology in the Sultanate of Oman. The memorandum of understanding includes cooperation in the field of legislation, policies and laws related to smart transportation, and ways to enhance partnership with the private sector towards developing investment solutions for transportation. Smart, the transformation in sustainable, organized transport to achieve carbon-neutral goals in the transport sector, research and development and technical training for workers, areas related to the design, implementation and maintenance of roads, mass and participatory transport, logistics, the formulation of national regulatory frameworks and policies governing the transport sector, and the exchange of experiences that contribute to leadership The two brotherly countries are in this vital field, which represents a major supporter of sustainable development and prosperity.
A memorandum of understanding in the field of maritime transport was also signed between the Ministry of Energy and Infrastructure and the Ministry of Transport, Communications and Information Technology in the Sultanate of Oman. The memorandum aims to cooperate and coordinate in projects, programs and policies and exchange experiences in the fields of maritime transport, investment and maritime connectivity between the two countries' ports.
A memorandum of understanding was signed between the Information Unit in the UAE and the Omani National Center for Financial Information regarding cooperation in exchanging information related to money laundering and related predicate crimes and the financing of terrorism.
The agreements also included a memorandum of understanding between the Emirates News Agency and the Ministry of Information in the Sultanate of Oman, represented by the Oman News Agency in the field of news and information exchange, signed by His Excellency Mohammed Jalal Al Raisi, Director General of the Emirates News Agency, and Ibrahim bin Saif Al Azri, Director General and Editor-in-Chief of the Oman News Agency.
A memorandum of understanding was signed between the Abu Dhabi Developmental Holding Company and the Omani Group for Communications and Information Technology "Ethkaa Group". The memorandum of understanding aims to establish an investment capital fund of 592 million dirhams, to invest in technology companies with high growth potential in the Sultanate of Oman.
In this context, the two parties identified initial investment opportunities whose value exceeds 30 billion dirhams, provided that feasibility studies are prepared for each of them.
Both the Holding and the Oman Investment Authority revealed a partnership agreement worth 10 billion dirhams, through which the two parties aim to enable investments in sectors of priority and common interest between the UAE and Oman.
With regard to cooperation in the capital markets, a memorandum of understanding was signed between the Abu Dhabi Securities Exchange and the Muscat Stock Exchange, an agreement for remote trading of brokerage companies through electronic trading, a partnership agreement between the Abu Dhabi Securities Exchange and the Muscat Stock Exchange in the field of double listings of securities, and a memorandum of cooperation Between Abu Dhabi Securities Exchange Company and Muscat Clearing and Depository Company.
In the field of double-listing of securities, an agreement was signed between the Abu Dhabi Securities Exchange and the Muscat Clearing Company in the Sultanate of Oman.
The Abu Dhabi Securities Exchange also concluded a memorandum of cooperation with the Muscat Clearing and Depository Company in the field of double-listing of securities, and another memorandum aimed at strengthening joint relations between the two sides, working on developing clearing and central depository in the two countries, allowing each party to obtain the necessary permits and approvals, and establishing Joint working committees on matters of common interest.
The market also signed an agreement with the Muscat Stock Exchange, aimed at cooperating at the level of double-listing of securities in the markets of the two countries, laying the legal foundations for this, unifying and defining operational, administrative and technical procedures to achieve effective cooperation and integrated coordination with regard to listing the same security in each of the Abu Dhabi market. Securities and Muscat Stock Exchange.
In the same context, the Abu Dhabi Securities Exchange announced the joining of the Muscat Stock Exchange to the "Tadawul" platform, so that the shares listed on the Omani market are available for trading, along with the shares of companies listed on the Abu Dhabi Stock Exchange and the Bahrain Stock Exchange.
A project to link the railways between the two countries
The UAE and the sisterly Sultanate of Oman have signed a cooperation agreement on the railway linking project between the two countries. The agreement includes the establishment of the Oman and Etihad Rail Company, owned equally between the two sides, with the aim of designing, developing and operating a railway network linking Sohar Port to the country’s national railway network, with a total project investment of three billions of dollars.
Under the agreement, the new company will prepare the preparatory work and an action plan for the implementation of the project, including financing mechanisms, the timetable, and then supervise the design, implementation and operation of the railway network project linking Sohar and Abu Dhabi, to ensure the harmonization of all standards approved by the two countries.
The railway network route between the Emirate of Abu Dhabi and the State of Sohar - extending for a distance of 303 kilometers - will adopt the highest international safety, safety and environmental standards to provide safe and fast services for passenger and freight transport, as the passenger train speed reaches 200 km per hour, and cuts the distance between Sohar Abu Dhabi in 100 minutes and 47 minutes between Sohar and Al Ain, while the freight train speeds up to 120 km per hour.
Facilitating procedures for industrial investors in both countries, especially in the field of advanced industries such as space, medical and agricultural technology.
Cooperation and coordination in projects, programs and policies, and the exchange of experiences in the fields of transport and maritime connectivity between the ports of the two countries.
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