28/04/2026 06:32 AST
Oman and Russia are seeking to expand economic and investment cooperation, with both sides identifying key sectors such as energy, logistics and technology for deeper collaboration during high-level talks held in Muscat on Monday.
H E Abdulsalam Mohammed Al Murshidi, Chairman of Oman Investment Authority (OIA), received a delegation from the Russian Federation, led by Maxim Reshetnikov, Minister of Economic Development, at his office on Monday.
During the meeting, both sides reviewed prospects for joint cooperation, as well as promising investment potential aligned with the priorities of the Sultanate of Oman and the Russian Federation. They also discussed existing areas of collaboration in key sectors and explored ways to strengthen partnerships in fields such as energy, infrastructure, logistics, food security and information technology.
The discussions highlighted the importance of expanding economic and investment ties, while strengthening the role of both public and private sectors to support economic integration and sustainable development in the two countries.
The meeting underscored the commitment of both sides to reinforcing bilateral economic relations, opening new avenues for cooperation, and advancing shared interests. The session was attended by the Ambassador of the Russian Federation to the Sultanate of Oman, along with officials from OIA and chief executives of several of its affiliated companies.
Separately, the Ministry of Economy also received the visiting Russian delegation, headed by Reshetnikov, who co-chairs the Omani-Russian Joint Governmental Committee on the Russian side. The visit forms part of ongoing efforts to strengthen bilateral relations and expand economic cooperation between the two countries.
The meeting at the Ministry of Economy was attended on the Omani side by H E Dr Nasser bin Rashid Al Maawali, Undersecretary of the Ministry of Economy, and H E Dr Munther bin Hilal Al Busaidi, Head of the Oman Vision 2040 Implementation Follow-up Unit, along with other officials and stakeholders.
During the visit, a presentation was delivered outlining key features of the Omani economy and recent developments driven by modern economic policies. It also highlighted Oman-Russia economic relations and identified promising sectors for future cooperation. In addition, the priorities of Oman Vision 2040 and its targets for advancing economic diversification were reviewed.
Discussions covered a range of areas of mutual interest, including ways to strengthen economic partnerships, boost trade, and encourage reciprocal investment, particularly in sectors such as energy, industry, logistics, food security and advanced technologies.
Both sides emphasised the importance of fostering an attractive business environment and enhancing communication between public and private sectors to support sustainable, long-term partnerships.
They also expressed their commitment to deepening bilateral cooperation and exploring new opportunities across various economic sectors, in support of sustainable development goals and stronger regional and international economic engagement.
According to the latest data from the National Centre for Statistics and Information for 2026, trade between Oman and Russia continues to grow. Oman's imports from Russia reached approximately RO87.9mn, while exports to Russia stood at RO2.95mn, bringing total bilateral trade to around RO90.9mn. The figures highlight significant potential to further expand trade and strengthen economic ties in the coming years.
Muscat Daily
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