Chamber of Commerce: Integration between Kuwait's New Kuwait 2035 Vision and Oman's Oman Vision 2040 is a strategic opportunity to enhance bilateral cooperation

Kuwait City, October 14 (KUNA) – The Deputy General Manager of the Kuwait Chamber of Commerce and Industry, Emad Al-Zaid, affirmed on Wednesday that the synergy between Kuwait’s “New Kuwait 2035” vision and Oman’s “Oman 2040” vision represents a strategic opportunity to enhance cooperation between the two countries in logistics, industry, energy, modern technologies, and the digital economy.

Speaking at a meeting with an Omani economic delegation hosted by the Chamber, Al-Zaid stated that Kuwait-Oman relations exemplify a Gulf model of understanding, cooperation, and mutual respect, grounded in strong historical ties and a shared vision that recognizes the importance of economic integration for sustainable development.

He added that relations between the two countries are entering a new phase of strategic partnership, under the patronage and guidance of His Highness the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, may God protect him, and His Majesty Sultan Haitham bin Tarik of Oman. This support contributes to expanding the horizons of cooperation and strengthening the trajectory of the Cooperation Council for Arab States of the Gulf (GCC).

Al-Zaid noted that Kuwaiti investments in the Sultanate of Oman grew by 4.6 percent during the first quarter of 2026, reaching approximately $3.76 billion, thereby reinforcing Kuwait’s position as one of the most prominent investment partners for the Sultanate.

He pointed out that the Kuwait-Oman Business Forum for Trade and Investment, hosted by the Chamber on May 13, 2024, on the sidelines of Sultan Haitham bin Tarik’s visit to Kuwait, embodied the depth of economic relations between the two brotherly nations. He emphasized that the economic opportunities available between Kuwait and Oman still exceed the volume of existing cooperation, and that the potential possessed by both countries allows for doubling the volume of bilateral trade and joint investments in the coming years.

Stressing the importance of enhancing economic, commercial, and investment partnerships with the Sultanate of Oman, Al-Zaid called for expanding cooperation between the private sectors of both countries, particularly in logistics, ports, free economic zones, and supply chains. He reaffirmed the Chamber’s commitment to supporting initiatives that strengthen private-sector cooperation and foster joint projects.

Al-Zaid highlighted that rapid transformations in international trade and supply chains necessitate diversifying trade transport routes and enhancing their resilience to ensure the sustainability and efficiency of trade flows. He underscored the importance of investing in logistics infrastructure and economic gateways to boost the competitiveness of GCC economies.

He noted that the Sultanate of Oman has successfully built an advanced logistics system, leveraging its strategic geographic location and investments in port development, infrastructure, and economic zones, which have strengthened its position as a regional logistics hub linking Gulf markets with Asia, Africa, and the world.

For his part, Badr bin Saif Al-Awafi, Economic Advisor at the Oman Chamber of Commerce and Industry, emphasized in a similar statement the importance of translating available commercial and investment opportunities between the two countries into actual, sustainable partnerships and projects that enhance economic integration between the Kuwaiti and Omani private sectors.

Al-Awafi stated that the fraternal and historical ties binding the two countries form a solid foundation for developing economic cooperation, noting the importance of aligning the advanced level of political relations with deeper, more sustainable economic, commercial, and investment ties.

He added that the meeting serves as a practical platform for expanding cooperation in trade, transport, logistics, and supply chains, and for exploring new partnership opportunities between Kuwaiti and Omani companies.

Al-Awafi clarified that the logistics sector plays an increasingly vital role in enhancing the competitiveness of economies, facilitating international trade, and attracting investments, particularly in light of challenges facing global supply chains and the need to diversify trade routes. He noted that the Sultanate of Oman possesses strategic assets, including its geographic location overlooking the Sea of Oman and the Arabian Sea, a network of ports, economic zones, and free zones, advanced infrastructure, and comprehensive transport, shipping, storage, distribution, and re-export services.

Al-Awafi highlighted that these assets offer promising opportunities for Kuwaiti companies to enter the Omani market, expand the reach of their products, and leverage the capabilities of ports such as Sohar, Salalah, and Duqm, among other Omani ports, for cargo handling and re-export to regional markets. He affirmed the readiness of Omani ports to serve businessmen and Kuwaiti companies in import, export, and re-export operations, emphasizing the importance of establishing direct partnerships between Kuwaiti exporters and Omani importers and distributors to improve cost efficiency and delivery schedules.

Al-Awafi stressed the importance of capitalizing on the Economic Agreement between the Gulf Cooperation Council (GCC) countries to enhance GCC economic integration and develop sustainable partnerships that go beyond current circumstances and challenges. He called on business leaders and companies in both countries to make the most of the meeting by engaging in direct dialogues, identifying potential partners, and building commercial and investment relationships based on mutual interests and benefits.

The meeting featured several presentations on logistics options amid regional developments, titled “The Green Corridor,” presented by the Royal Oman Police, and a presentation on “Special Economic Zones and Free Zones” delivered by the General Authority for Special Economic Zones and Free Zones. Additionally, presentations included one by Asyad Group titled “Asyad Services and Their Role in Linking Regional and Global Markets,” and another on “Sohar Port: A Strategic Gateway to Enhance Trade and Logistics Connectivity between the Sultanate of Oman and Regional Markets,” presented by Sohar Port and Free Zone. (End) A.A.B / M.K