Latest news with #UAEOmanCooperation
Emirates 24/7
26-05-2025
- Business
- Emirates 24/7
Hamdan bin Mohammed meets with Oman's Deputy Prime Minister for Cabinet Affairs
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence of the UAE, met today in Muscat with His Highness Sayyid Fahd bin Mahmoud Al Said, Deputy Prime Minister for Cabinet Affairs of Oman. The meeting explored opportunities to further deepen strategic cooperation between the UAE and Oman across various sectors, underpinned by the strong historical and fraternal ties shared by the two nations and their peoples. Held as part of H.H. Sheikh Hamdan's official visit to Oman at the head of a high-level delegation, the meeting reflected the growing momentum in bilateral cooperation, guided by the vision and directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and His Majesty Sultan Haitham bin Tariq Al Said, Sultan of Oman. During the meeting, H.H. Sheikh Hamdan bin Mohammed underscored the significance of continued high-level exchanges and ongoing ministerial and government engagement, which reflect the shared commitment of both nations to further strengthen UAE-Oman ties. He noted that strengthening bilateral ties serves national development goals, particularly in the economic, political, scientific, and cultural spheres. The meeting highlighted the importance of ongoing coordination to advance mutual interests and drive comprehensive, sustainable development in both nations. The discussions also touched on ways to enhance Gulf cooperation, with a focus on increasing trade and tourism flows, promoting mutual investments, and encouraging the private sector to play a greater role in launching joint ventures that contribute to growth across the industrial, commercial, and investment sectors. Sheikh Hamdan praised the continued growth of UAE-Oman economic relations. Oman remains the UAE's second-largest trading partner among GCC countries. In 2024, non-oil trade between the two nations surpassed AED56.1 billion, marking a 9.8% increase compared to 2023. He expressed confidence that further opportunities lie ahead to expand trade and boost tourism flows, especially given the rich and diverse offerings that both countries boast. The meeting was attended by H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai; H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group; and H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority. His Highness Sayyid Fahd bin Mahmoud Al Said welcomed H.H. Sheikh Hamdan bin Mohammed and the accompanying delegation to Oman, emphasising that the visit reflects the depth of the ties between the two brotherly nations. He noted that the visit would serve to further advance strategic cooperation in support of mutual development goals and continued economic growth. Sayyid Fahd reiterated Oman's commitment to strengthening cooperation and enhancing bilateral relations aligned with the two countries' shared strategic aspirations for the future. The meeting also covered a range of regional and international developments, including the latest updates from the Middle East, and ongoing efforts to promote peace, security, and stability in the region. The meeting was also attended by Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs; Sheikh Salem bin Khalid Al Qassimi, Minister of Culture; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications; Her Excellency Maryam bint Ahmed Al Hammadi, Minister of State; Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers;Abdullah Al Basti, Secretary General of The Executive Council of Dubai; Lieutenant General Talal Belhoul Al Falasi, President of Dubai's State Security Department; Helal Saeed Al Marri, Director General of Dubai Department of Economy and Tourism; and Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation, Chairman and CEO of DP World, and Chairman of the Dubai International Chamber. Follow Emirates 24|7 on Google News.
Emirates 24/7
26-05-2025
- Business
- Emirates 24/7
Hamdan bin Mohammed witnesses signing of agreement to develop, operate Phase One of Al Rawdah Special Economic Zone in Al Buraimi Governorate
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, today witnessed the signing of an agreement to develop and operate the first phase of the Al Rawdah Special Economic Zone, located in the Wilayat of Mahadha, Al Buraimi Governorate, in the Sultanate of Oman. The signing took place during the visit of a high-level UAE delegation to Oman led by H.H. Sheikh Hamdan bin Mohammed. The signing of the agreement, which took place in Muscat, was attended by His Highness Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports and Youth of Oman. The agreement is part of the flourishing economic cooperation between the two nations. The agreement was signed by Eng. Ahmed bin Hassan Al Dheeb, Deputy Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), and Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, representing Mahadha Development Company, which will develop the new zone. Mahadha Development Company is an Emirati-Omani joint venture in which DP World is the majority partner. Commenting on the occasion, Sultan Ahmed bin Sulayem said: 'The Al Rawdah Special Economic Zone represents a new chapter in the growing economic relationship between the UAE and the Sultanate of Oman. Through close collaboration with OPAZ and our Omani partners, this new zone will strengthen our deep trade ties while reflecting our shared ambition for sustainable and diversified economic growth.' He added: 'At DP World, we are committed to developing a world-class platform that will create new opportunities for growth, strengthen connectivity and bring long-term economic value to both Oman and the UAE.' In his speech, Eng. Ahmed bin Hassan Al Dheeb highlighted: "The Al Rawdah Special Economic Zone has been designed to support key development goals, including creating jobs, attracting advanced knowledge and modern technologies, and fostering a business-friendly environment that aligns with the sustainable development objectives of Oman Vision 2040.' He added: 'The zone's strategic location in the Buraimi Governorate - at the crossroads between Oman and the UAE - provides seamless connectivity to both Sohar Port and Jebel Ali Port. This positioning is expected to enhance logistics efficiency, lower costs, and improve market access across Gulf, Asian, and African trade routes.' Phase 1 of the project will cover 14 square kilometres, with expansion plans to reach 25 square kilometres in Phase 2. The zone will benefit from direct connectivity to both Jebel Ali Port in Dubai and Omani ports, enhancing cross-border logistics. Under the agreement, Mahadha Development Company will be responsible for developing the infrastructure and facilities, preparing the masterplan and environmental studies, and designing the initial layout. The first phase will target a range of economic activities, including manufacturing, logistics, warehousing, pharmaceuticals, medical supplies, plastics, mining, food processing, and security and safety services - all provided through an integrated one-stop-shop service model. The Al Rawdah project is a strategic initiative that will leverage its geographic location to strengthen supply chains, re-export activity, and logistics connectivity between Oman, the UAE, and international markets. The zone will serve as a key engine of economic diversification aligned with the Dubai Economic Agenda D33 and Oman Vision 2040. It aims to attract foreign direct investment (FDI), increase industrial output, and create thousands of jobs as the zone scales over the coming decades. In 2024, non-oil trade between the UAE and Oman reached a record AED56 billion - a 9.8% increase from the previous year - highlighting the deepening economic partnership. The Al Rawdah Zone is expected to accelerate this trend by establishing a modern and advanced ecosystem for trade and manufacturing. DP World brings four decades of expertise in developing and operating economic zones, including the Jebel Ali Free Zone (Jafza), the first free zone in the Middle East and one of the most successful globally. This experience along with its portfolio of 11 economic zones worldwide positions DP World to deliver a future-ready, integrated platform in Oman, supported by OPAZ's national development strategy. The signing was attended by H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai; H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group; and .HH. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority. Also present at the signing were Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs; Sheikh Salem bin Khalid Al Qassimi, Minister of Culture; His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Application; Maryam bint Ahmed Al Hammadi, Minister of State; Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers; Abdulla Al Basti, Secretary General of The Executive Council of Dubai; Lieutenant General Talal Belhoul Al Falasi, President of Dubai's State Security Department; and Helal Saeed Al Marri, Director General of Dubai Department of Economy and Tourism. Follow Emirates 24|7 on Google News.
