Oman, China sign currency swap deal, 23 investment agreements during Sultan Haitham's visit
Landmark agreements cover finance, AI, green investment, digital economy, space technology
Dubai: Dubai: Oman and China signed a currency swap agreement, 23 investment and strategic partnership deals, and 14 cooperation documents in Beijing on Monday, marking a major expansion of economic and financial ties during Sultan Haitham bin Tarik's state visit to China.
The agreements, covering finance, investment, artificial intelligence, green development, digital technology and industrial supply chains, were signed during ceremonies attended by Sultan Haitham and Chinese President Xi Jinping, the Oman News Agency (ONA) reported.
Get updated faster and for FREE: Download the Gulf News app now - simply click here.
The currency swap agreement, concluded between the Central Bank of Oman and the People's Bank of China, represents a key component of the broader financial cooperation package. Its value, duration and operational terms were not disclosed.
Separately, the Oman Investment Authority (OIA) signed 23 agreements, memoranda of cooperation and strategic and investment partnerships with Chinese institutions and companies during the Oman-China Forum in Beijing.
Sultan Haitham attended the signing ceremony, held on the sidelines of the forum, which aims to strengthen bilateral economic cooperation, attract investment and expand partnerships between financial and investment institutions in both countries.
The forum also focused on identifying new investment opportunities, developing strategic partnerships and increasing bilateral trade and investment flows, ONA said.
In addition to the currency swap agreement, Oman and China signed 14 memoranda of understanding and cooperation protocols covering a wide range of economic and technological sectors.
The agreements include cooperation on green investment, science, technology and innovation, artificial intelligence, data and the digital economy, as well as regulatory coordination in securities and futures markets.
Both countries also agreed to strengthen cooperation in central bank digital currencies, industrial investment and supply chains, reflecting their efforts to deepen financial and technological integration.
The package extends to the peaceful uses of outer space, space science and technology, and applications of China's BeiDou satellite navigation system.
In the agricultural sector, the two countries signed a protocol establishing inspection, quarantine and health requirements for Omani dried dates exported to China, providing a framework for trade in the product.
Other agreements cover competition protection and the prevention of monopolies, vegetation development, protected natural areas, historical documentation, archives management, and cooperation in media and information exchange.
The agreements underscore efforts by Muscat and Beijing to broaden their economic partnership beyond traditional trade, with increased emphasis on investment, advanced technology, financial cooperation and sustainable development.
The signing ceremonies formed a central part of Sultan Haitham's state visit, aimed at strengthening bilateral relations and opening new avenues for long-term economic cooperation between Oman and China.
