Egypt and Oman have inked an MoU to boost trade and expand investment, according to a statement released last week. The pair will exchange technical expertise, offer support, and share knowledge on a wide range of key sectors, including logistics and transportation, infrastructure development, industry, food security, and informational technology.

Not a first: Egypt’s cabinet approved a draft agreement last month to expand cooperation with Oman in maritime transportation and ports. The agreement — initially inked by the pair in 2022 — aims to expand trade ties by bolstering maritime relations and removing potential obstacles that impact transport and logistics. The two sides will also exchange knowledge and experience in ship management, operation, maintenance, and repair.

The trade volume between the two countries has hit USD 1.3 bn, nearly doubling in recent years, according to the statement. Oman exported nearly USD 985 mn worth of goods to Egypt in 2023, while Egypt exported goods valued USD 328 mn to Oman during the same period, according to OEC data.

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