Spain’s Minister of Economy, Trade and Enterprise, Carlos Cuerpo, and Oman’s Minister of Commerce, Industry and Investment Promotion, Qais bin Mohammed bin Moosa Al Yousef, have signed a Memorandum of Understanding to boost investment cooperation. The signing took place during the official visit of His Majesty Sultan Haitham Bin Tariq Al-Busaid to Spain, where he was received by Spanish Prime Minister Pedro Sánchez.

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Spain and Oman Strengthen Economic Ties with New Memorandum of Understanding

The agreement, which will initially last five years, aims to attract investment in key strategic sectors with high economic and social impact for both countries. These sectors include energy, industry, agriculture, infrastructure, technology, logistics, and tourism.

The Memorandum outlines measures for technical knowledge exchange, expert advisory collaboration, and the identification of joint investment opportunities and projects. The solid growth in bilateral trade and investment since 2020 highlights the promising potential to further strengthen economic relations between Spain and Oman.