Stemming from the good existing relations between the Sultanate of Oman and South Korea and as part of their endeavors to promote the existing relations of cooperation between them, the 5th session of the Omani-Korean Joint Committee was held on Seoul, Korea in Nov1-4. The Omani side was headed by Dr. Shaikh Abdulmalik bin Abdullah al Hinai, Adviser at the Ministry of Finance, while it was chaired from the Korean side by Lee In-ho, Deputy Minister of Trade, Industry and Energy with participation of officials from both countries.
The Action Group representing various government institutions from both countries took part in the session. The Joint Committee discussed various areas of existing cooperation between the two countries particularly economic, trade and investment fields and means of promoting them, in addition to reviewing achievements made since the Committee’s previous session. Further, the Committee discussed several sectors. It focused on logistics, tourism, industry, ICT, scientific research, education and renewable energy. The two sides also discussed ways of cooperation and joint investment. They stressed the importance of constantly following up the discussed topics and achieving prospective outcomes for the interest of both countries. The Omani side invited Korean companies to take the opportunities and incentives provided at many economic and free zones in Oman on various sectors including Logistics, manufacturing, Tourism, Energy, etc.
In the side line of the joint committee meeting, Oman investment briefing was held at KCCI with attendance of many Korean companies. One lecture highlighted Korea-Oman relation and cooperation and focused on Investment opportunities and incentives, while the other lecture focused on Investment opportunities and incentive in Duqm economic free zone. Also an MOU was signed between Capital Market Authority and Financial Supervisory Commission (FSC) and Financial Supervisory Services (FSS)