Muscat – Oman and Türkiye are seeking to strengthen their bilateral trade and investment ties, targeting an increase in total trade between the two countries to $5bn over the next five years. The sultanate has also proposed a plan to establish a dedicated Turkish-Omani Industrial Zone in the sultanate.
The 13th session of the Türkiye–Oman Joint Committee took place in Ankara on December 19, 2025, co-chaired by Mehmet Şimşek, Minister of Treasury and Finance of Türkiye, and H E Qais Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion of Oman.
At the meeting, both sides signed the Joint Committee Protocol, alongside a Memorandum of Understanding aimed at enhancing cooperation between educational institutions. The Protocol, signed at the conclusion of the session, serves as a roadmap reflecting the progress achieved in Türkiye–Oman relations and identifies new areas of collaboration across sectors including industry, transport, energy, tourism, education, banking and finance, agriculture, and e-commerce.
H E Yousef highlighted the importance of expanding trade and investment in line with the directives of both countries’ leadership, stressing the shared objective of raising bilateral trade to $5bn over the next five years. He underlined the need to convert strong political momentum into tangible economic results through joint projects and strategic investments.
The minister proposed a plan to establish a Turkish-Omani Industrial Zone in Oman, leveraging the sultanate’s strategic location and existing free trade agreements with the United States and India. The zone is expected to focus on sectors such as spare parts and textiles. To facilitate this initiative, the minister emphasised the importance of exploring direct import routes and drawing lessons from Türkiye’s successful export promotion strategies and incentive programmes.
H E Yousef also noted the steady growth in bilateral trade and investment flows, including the increasing presence of Turkish companies in Oman and the growing confidence of Omani investors in the Turkish economy. He welcomed steps to accelerate the conclusion of the Türkiye–GCC Free Trade Agreement, strengthen cooperation in industrial zones, logistics, export promotion, and capacity building, and enhance people-to-people exchanges in tourism, education, and technical cooperation.
He highlighted the significant growth in bilateral trade, citing a 5.3% increase in 2024, followed by a further 7.8% rise in the first half of 2025. Türkiye remains a key export destination for Omani products, while the number of Turkish companies operating in Oman rose by 21% as of September 2025. Turkish investment in Oman also grew by 18.7%, playing a pivotal role in supporting the sultanate’s infrastructure and development projects.
Speaking at the meeting, Şimşek emphasised that concluding the free trade agreement negotiations between Türkiye and the GCC would be a decisive catalyst for regional trade and urged the process to be finalised without delay.
On investment, Şimşek affirmed Türkiye’s readiness to support Oman’s Vision 2040 and its non-oil economic transformation, noting the complementary strengths of both countries in logistics and connectivity. He suggested that linking Oman’s world-class ports and economic zones with Türkiye’s extensive network across Europe, Central Asia, and the Middle East could create an integrated trade corridor, reducing time, cost, and risk. He also highlighted the potential for joint projects in third countries, particularly in Africa.
Şimşek further noted that financial and banking institutions in both countries maintain regular contact. The 2026 work programme was discussed, with plans to expand cooperation in the coming period. He also emphasised the importance of small and medium-sized enterprises (SMEs) as the backbone of both economies and called for strengthening collaboration in this area, citing Türkiye’s nearly 400 organised industrial zones and Oman’s special economic zones as mutually beneficial.
In the energy sector, Şimşek highlighted the agreement between Turkish Petroleum Corporation (TPAO) and OQ Exploration and Production (OQEP) as key to diversifying Türkiye’s energy supply. He also welcomed cooperation on critical minerals and mining, and noted positive collaboration among TPAO, Botas, and OQEP in oil, natural gas, pipeline security, storage, and green energy initiatives.
Additionally, the Türkiye–Oman Roundtable Meeting, organised under the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), brought together ministers and private-sector representatives to review ongoing projects and explore new opportunities. Participants highlighted the role of organised industrial zones in promoting trade and investment, and stressed the importance of sharing experiences and best practices.
