The UAE is joining the Sultanate of Oman in commemorating its 54th National Day today, celebrated annually on November 18.

Each year, the UAE honors Oman's National Day with a variety of events, including illuminating landmarks with the Omani flag, greeting Omani visitors with flowers and gifts at border crossings and airports, and organizing festivities in shopping malls and entertainment venues. This occasion underscores the robust and lasting bond between the two nations, grounded in profound fraternal ties and a comprehensive strategic partnership.

The relationship between the UAE and Oman continues to flourish, bolstered by the support and leadership of President Sheikh Mohamed and Sultan Haitham bin Tariq Al Said of Oman. Under Sultan Haitham's guidance, Oman has embarked on a new era of development, emphasizing modernization, economic diversification, and sustainable growth, particularly through the 'Oman Vision 2040' initiative. This ambitious plan aims to diversify and fortify the national economy, achieve sustainable economic growth at a rate of 5% annually, and increase GDP per capita by up to 90%. It also seeks to establish a high-quality educational system, create a national framework for research, innovation, and knowledge-based industries, and build an attractive environment for Oman's labor market.

Economically, the UAE and Oman share strong ties. Non-oil trade between the two countries reached Dh51 billion last year, compared to Dh48.7 billion in 2022, reflecting a growth rate of 5%. The UAE is Oman's largest trading partner, both as the biggest exporter to Oman and the largest importer from it. The UAE accounts for over 40% of Oman's total imports and around 20% of Oman's exports to global markets.

In April, during Sultan Haitham's visit to the UAE, both countries signed agreements and MoUs worth Dh129 billion, focusing on sectors such as renewable energy projects, green minerals, railway connections, and investments in digital infrastructure and technology, facilitated by partnerships between the UAE Ministry of Investment and Oman's Ministry of Commerce, Industry and Investment Promotion.

Culturally, the UAE and Oman share a rich history in art and literature, with deep connections in arts, traditions, and family bonds, further cementing their strong ties.

Source link:   https://www.khaleejtimes.com