Oman, China sign currency swap deal, 23 investment agreements during Sultan Haitham's visit

Dubai: Oman and China bolstered their economic and financial ties during Sultan Haitham bin Tarik's state visit to China in Beijing on Monday. Notable developments included the signing of a currency swap agreement between the Central Bank of Oman and the People's Bank of China, as well as 23 investment and strategic partnership deals, and 14 cooperation documents.

The currency swap agreement, while not disclosing terms, represents a significant part of the financial cooperation package. Sultan Haitham attended the signing ceremony, emphasizing the visit's focus on strengthening bilateral economic cooperation, attracting investment, and expanding partnerships between financial and investment institutions.

The Oman-China Forum in Beijing also saw the signing of 14 memoranda of understanding and cooperation protocols across various sectors, including green development, digital technology, and industrial supply chains. These agreements underscore Muscat and Beijing's efforts to deepen financial and technological integration beyond traditional trade, with a strong emphasis on investment, advanced technology, and sustainable development.