Monday 27 / April / 2026
Muscat: The Ministry of Economy today received a delegation from the Russian Federation headed by Maxim Reshetnikov, Minister of Economic Development of the Russian Federation and Chairman of the Russian side of the Omani-Russian Joint Governmental Committee, who is currently visiting the Sultanate of Oman.
The visit is part of ongoing efforts to strengthen bilateral relations and develop avenues of economic cooperation between the two countries.
During the visit, a meeting was held featuring a visual presentation that highlighted key features of the Omani economy and the developments it is undergoing in light of modern economic policies. The presentation also shed light on Omani-Russian economic relations and the most promising sectors for joint cooperation, in addition to reviewing the priorities of Oman Vision 2040 and its ambitious targets for enhancing economic diversification.
The meeting addressed several areas of economic cooperation of mutual interest, exploring means to strengthen economic partnerships, develop trade exchange, and encourage mutual investments, particularly in vital sectors such as energy, industry, logistics, food security, and advanced technologies.
Both sides affirmed the importance of working to create an attractive business environment and enhance communication channels between the public and private sectors to support the establishment of sustainable strategic partnerships.
The two parties expressed their aspiration to continue strengthening bilateral cooperation and exploring new opportunities for partnership across various economic fields, thereby supporting the achievement of sustainable development goals and reinforcing the position of both countries as effective economic partners at both the regional and international levels.
Economic indicators reflect the continued growth of trade exchange between the Sultanate of Oman and the Russian Federation. According to the latest statistics issued by the National Centre for Statistics and Information for 2026, the total value of Oman's imports from Russia reached approximately RO 87,909,321, while the value of Omani exports to Russia stood at RO 2,958,455. Consequently, the total volume of trade exchange between the two countries amounted to RO 90,867,776, reflecting the existence of promising opportunities to enhance the trade balance and develop economic relations during the coming period.
The meeting was attended from the Omani side by Dr. Nasser Rashid Al Maawali, Undersecretary of the Ministry of Economy, Sayyid Dr. Munthir Hilal Al Busaidi, Head of Oman Vision 2040 Implementation Follow-up Unit at the Ministry of Economy along with a number of officials from the Ministry.
