Oman Proposes Preferential Trade and Investment Agreement with China During Beijing Visit

Oman has proposed a preferential bilateral trade and investment agreement with China as both nations work to expand cooperation across strategic economic sectors, Politics Today reported. Sultan Haitham bin Tariq al-Said presented the proposal during an official meeting with Chinese President Xi Jinping at the Great Hall of the People in Beijing on Monday.

According to remarks cited by Oman's state-run news agency, Sultan Haitham stated that such an agreement would open new avenues for trade and investment while facilitating and enhancing commercial exchanges. The proposal comes as Oman works to boost trade with China, its largest commercial partner, and attract foreign capital into sectors that support economic diversification beyond crude oil exports.

Sultan Haitham noted that Muscat is interested in setting up joint investment funds spanning renewable energy, artificial intelligence, digital technologies, space, and defense. The talks between the two leaders also placed emphasis on building closer ties between financial and investment institutions, pointing toward cooperation beyond traditional trade in goods and energy.

Chinese President Xi Jinping characterized closer bilateral relations with Oman as a shared strategic choice for both nations, stating that China is ready to advance the strategic partnership.