Saudi Arabia And Oman Hold Talks On Civil Aviation Sector Collaboration
Date
2/17/2024 1:12:57 AM
(MENAFN- Bangladesh Monitor)
Muscat
:
Saudi Arabia and Oman have convened to discuss cooperation in bolstering their civil Aviation sectors.
The kingdom's General Authority of Civil Aviation and Oman's Civil Aviation Authority aims to foster bilateral relations in this field, as the Oman News Agency reported.
This development aligns with the overall goal of Saudi Arabia and Oman to establish a joint tourism calendar, emphasizing camping and adventure tourism, and to facilitate seasonal trips between the two countries. Additionally, it corresponds to introducing a unified tourist visa between the two Gulf states in June 2023.
They discussed expanding air transport rights and strategies to effectively utilize Saudi and Omani airspaces, aiming to enhance efficiency and capacity in response to the steady growth in air traffic regionally and globally.
In July 2023, Saudi Arabia's Public Investment Fund (PIF) and the Oman Investment Authority signed a Memorandum of Understanding (MoU) to strengthen trade and economic ties. This initiative will enable the PIF and its portfolio companies to capitalize on opportunities in the Gulf nation.
Moreover, in 2022, trade between the two nations surged by 123% compared to the previous year, reaching $7.01 billion.
“The MoU represents a significant milestone in PIF and OIA's strategic partnership as it aims to expand PIF's portfolio in Oman, building on the recent establishment of the Saudi Omani Investment Co., a wholly owned company by the PIF, which intends to invest up to $5 billion in promising sectors in Oman,” said the PIF at the time.
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