Egypt and Oman Sign Deals to Foster Bilateral Cooperation, Strengthen Economic Ties

Egypt and Oman Sign Deals to Foster Bilateral Cooperation, Strengthen Economic Ties


Egypt and Oman have signed an agreement that aims to prevent double taxation, which refers to income tax being levied twice on the same income, as well as a Memorandum of Understanding (MoU) to foster bilateral cooperation between the two countries, on Monday, 23 May.

The deals – overseen by Finance Minister Mohamed Maait and his Omani counterpart Sultan Bin Salem Al-Habsi – were finalized during the Egyptian-Omani Business Forum, held in Cairo as part of Sultan of Oman Haitham bin Tariq’s first visit to Cairo on Saturday, 20 May.

According to Oman’s Ambassador to Cairo Abdullah bin Nasser Al-Rahbi, the Sultan’s visit to Cairo will witness the signing of six MoUs between Oman and Egypt, including cooperation in the education, judiciary, transportation, aviation, and taxation fields.

The MoU on financial policies and investments will seek to strengthen the economic relations and trade cooperations between Egypt and Oman, in order to boost joint investments, Maait explained.

In a meeting in Cairo on Sunday, 21 May, Egyptian President Abdel-Fattah Al-Sisi and his counterpart, bin Tariq, stressed their keenness to continue enhancing the efforts between both governments with regard to the growth of trade between them.
Trade between Egypt and Oman reached EGP 30 billion (USD 1.08 billion at the time) in 2022, nearly a 66 percent increase compared to 2021, said Minister of Trade and Industry Ahmed Samir, who was also in attendance at the Egyptian-Omani Business Forum.
“We look forward to a strong push to the economic, commercial and investment relations in line with the aspirations of the two peoples,” Minister of Finance Mohamed Maait said during the forum.

UN Allocates USD 5 Million to Sudanese Refugees Fleeing to Egypt
Spotify, Apple Music Face Criticism for Removing Mohammed Assaf's Palestinian Hit

Subscribe to our newsletter


Farah Rafik is a graduate from the American University in Cairo (AUC) with a dual degree in Multimedia Journalism and Political Science. After being an active participant in Model United Nation (MUN) conferences both locally and internationally, Farah discovered her love for writing. When she isn’t writing about Arts & Culture for Egyptian Streets, she is busy watching films and shows to review. Writing isn’t completed without a coffee or an iced matcha latte in hand—that she regularly spills. She occasionally challenges herself in reading challenges on Goodreads, and can easily read a book a day.

More in News

US First Lady Visits the Pyramids, Promotes Empowerment of Egyptian Women and Youth

Egyptian Streets4 June 2023

Egypt, Israel Defense Ministers Discuss Border Gunfire Incident and Ways of Prevention

Marina Makary4 June 2023

Egyptian Officer and 3 Israeli Soldiers Dead After Border Gunfire Incident

Shereif Barakat3 June 2023

Pyramids, Citadel, and Other Tourist Spots Stop Accepting Cash Payments for Tickets

Omar Auf3 June 2023

Egyptian FM Flies to Turkey for President Erdogan’s Inauguration

Shereif Barakat3 June 2023

Egyptian Sandstorm Tragically Kills 1, Injures 5

Nadia Salem2 June 2023

Smoking in Egypt is Now 0.5 Percent Less Prevalent Than in 2020

Omar Auf1 June 2023

Egyptian Law Change Allows Foreign Nationals to Apply for Citizenship

Egyptian Streets1 June 2023