Media365
Oman and the Kingdom of Saudi Arabia have taken a significant step to strengthen their industrial and commercial ties by agreeing to recognize each other’s certificates of origin. The move is designed to facilitate the movement of goods between the two countries, reduce costs for manufacturers, and expand opportunities for joint industrial projects.
Accelerating integration and trade
The announcement was made during a committee coordination meeting in Riyadh on Tuesday, where officials from both nations reviewed the progress of ongoing joint integration initiatives. Out of the 17 initiatives launched so far, six have been successfully completed, while work continues on 11 others.The Omani delegation was led by H E Saleh bin Said Masan, Undersecretary for Commerce and Industry at the Ministry of Commerce, Industry, and Investment Promotion. Representing Saudi Arabia was Rakan bin Waddah Tarabzouni, Undersecretary for International Economic Affairs at the Ministry of Economy and Planning.
Key industrial achievements
The meeting highlighted several major industrial projects. The second phase of the Industrial Integration Project has been completed, allowing Oman made products to enter the Saudi market using only an Omani Certificate of Origin. This is expected to enhance market access and simplify procedures for manufacturers on both sides.Another milestone is the completion of the Factories of the Future initiative, alongside 12 agreements connecting supply chains between Omani and Saudi factories. These agreements aim to create new opportunities for joint manufacturing and value-added industrial activities, strengthening the regional industrial ecosystem.
Trade growth and regulatory alignment
Bilateral trade between Oman and Saudi Arabia surpassed US$8 billion by the end of 2024, reflecting an expanding network of business partnerships and growing economic cooperation. During the meeting, the committee also signed a memorandum of understanding focused on competition protection and anti-monopoly practices. Technical workshops were conducted to align regulations, build expertise, and support the long-term goals of Oman Vision 2040 and Saudi Vision 2030.
Future plans and industrial collaboration
Eng Jassim bin Saif al Jadidi, Technical Director at the Office of the Undersecretary for Commerce and Industry, described the second phase of industrial integration launched in Riyadh in July as a major milestone. He noted that it advanced cooperation in industrial development, enhanced local content, and harmonized government procurement procedures.Al Jadidi emphasized that joint efforts have strengthened supply-chain integration and elevated industrial partnerships. The next phase will focus on finalizing a verification protocol for Certificates of Origin, further streamlining the movement of goods and easing procedures for manufacturers.
