The bilateral trade between Qatar and Oman tripled to QR1.8 billion in the fourth quarter of 2017 from QR600 million during the same period the previous year, Minister of Finance HE Ali Shareef al Emadi said on Thursday.
Addressing the 19th session of Qatari-Omani Joint Committee in Doha, Emadi called for more efforts to increase the trade between the two countries by making maximum use of the direct shipping lines.
The meetings during the joint committee session were chaired by Emadi and Oman's Minister Responsible for Financial Affairs Darwish bin Ismail al Balushi.
Emadi said the economic relations between Qatar and Oman saw a huge boost, thanks to the directives of the Amir HH Sheikh Tamim bin Hamad al Thani and HM Sultan Qaboos bin Said.
A slew of agreements was signed between the two countries in the presence of Emadi and Balushi.
The agreements involving Qatar's Ministry of Finance, Ministry of Economy and Commerce and Qatar Development Bank (QDB) are aimed at enhancing economic cooperation between the two countries in various fields, including industry, agriculture, livestock, energy, communications, transport, tourism, and banking and education.
During the meeting, Emadi also reviewed the achievements made to strengthen economic cooperation between the two countries in the sectors of agriculture, livestock, transportation, telecommunications, energy, tourism, education, construction, and banking services with joint investments exceeding QR10 billion.
Pointing to the marked rise in investment cooperation among private sectors of the two countries, Emadi said there are a number of joint projects in the fields of agriculture and building materials industry with investments of nearly QR2 billion.
The Qatari-Omani Joint Committee also discussed current projects and plans to expand them, as well as ways to overcome the obstacles facing some projects.
It also examined a number of proposals for the establishment of new joint ventures.