Oman, Kazakhstan strengthen economic ties with new cooperation agreement

Muscat – Oman and the Republic of Kazakhstan have forged stronger economic, financial and investment ties, following high-level discussions held during an official visit by an Omani delegation to Astana from May 29 to 30.

The delegation, led by Sultan bin Salim al Habsi, Minister of Finance, included senior representatives from the Ministry of Commerce, Industry and Investment Promotion, the Tax Authority, and the Oman Investment Authority. The visit aimed to deepen bilateral cooperation and explore mutually beneficial opportunities across several strategic sectors.

Habsi met with Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, and conveyed greetings from His Majesty Sultan Haitham bin Tarik, along with his best wishes for continued progress and prosperity for the Kazakh leadership and people.

A key outcome of the visit was the signing of a bilateral agreement to avoid double taxation and prevent tax evasion on income and capital. The agreement is expected to enhance transparency and create a more attractive environment for investors from both nations.

The talks also focused on expanding cooperation in logistics, mining, and food security – areas identified as having strong potential for joint investment. Opportunities in the financial and oil sectors were also on the agenda, as both countries seek to strengthen their economic frameworks and diversify sources of revenue.

Officials noted that the visit reflects the commitment of both nations to deepen economic engagement and lay the groundwork for long-term partnerships in priority sectors.