Oman and Britain signed a Sovereign Investment Partnership deal on Wednesday, agreeing to work more closely on increasing high-value investment into both countries as the UK draws nearer to a trade deal with the GCC.
The new pact between the UK’s Office for Investment and the Oman Investment Authority was signed in London by the UK’s Minister for Investment, Lord Gerry Grimstone, and the President of the Oman Investment Authority, AbdulSalam Al Murshidi, with the aim of strengthening economic ties between the UK and Oman.
The partnership also strives to identify and support commercial investments in areas such as clean energy and technology - a key part of the nations' £1 billion-a-year trading relationship.
The signing follows Prime Minister Boris Johnson’s meeting with the Sultan Haitham of Oman at Downing Street in December, where he discussed efforts to boost Britain’s and Oman’s economic recovery from the pandemic, investment opportunities in green and renewable technology, and the new UK-GCC free trade agreement, which is under discussion this year.
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