<h6><strong>Eduardo González</strong></h6> <h4><strong>Spanish Prime Minister Pedro Sánchez received the Sultan of Oman, Haitham Bin Tariq Al-Busaid, at the Moncloa Palace on Wednesday, where they witnessed the signing of six Memoranda of Understanding (MOUs). These included the creation of a framework to boost investment in sectors such as industry, agriculture, energy, infrastructure, logistics, technology, and tourism.</strong></h4> During the meeting, which took place during the Sultan of Oman's state visit to Spain, the two leaders adopted a Joint Declaration reaffirming both governments' commitment to international stability and supporting the Gaza Peace Plan and the two-state solution as the path to a just and lasting peace in the Middle East. According to Moncloa, Sánchez and Al-Busaid agreed that the situation in Gaza remains extremely fragile and stressed the importance of maintaining the ceasefire and preserving the space for dialogue opened after the agreement signed in Sharm el-Sheikh. In the economic sphere, the two leaders discussed the commitment of Spanish companies to the development of Oman in strategic sectors such as desalination and water treatment, waste management, renewable energy, railway infrastructure, defense, and culture. They also highlighted the positive progress of financial cooperation and the desire to further expand co-investment mechanisms between the two countries. For his part, the Sultan expressed his hope that this meeting would allow for progress on “concrete steps that contribute to strengthening economic relations and open new horizons for integration and partnership between our two friendly countries,” according to the Omani Ministry of Foreign Affairs. <h5><strong>Memoranda of Understanding</strong></h5> During the meeting, the President of the Government of Spain and the Sultan of Oman attended the signing of several agreements. Specifically, Spain and Oman signed an agreement on clean energy transition, committing to strengthen their cooperation in renewable energy, green hydrogen, energy efficiency, and smart grids, promoting training, research, and knowledge transfer to advance towards a zero-emissions economy. Likewise, the two governments signed an agreement on the sustainable management of water resources, committing to promote technical and scientific collaboration in the management, development, and protection of water, with special attention to desalination, reuse, and water efficiency. A Memorandum of Understanding on investment was also signed, establishing a framework to promote investment in areas of high economic and social impact for both countries in key sectors such as industry, agriculture, energy, infrastructure, logistics, technology, and tourism. According to the Ministry of Economy, Trade and Business (whose head, Carlos Cuerpo, signed the agreement with his Omani counterpart, Qais bin Mohammed bin Moosa Al Yousef), this Memorandum of Understanding will have an initial term of five years and includes mechanisms for the exchange of technical knowledge, advice, and experiences, as well as the identification of investment opportunities and the development of joint projects. Three other Memoranda of Understanding have also been signed in the areas of agriculture, livestock and food security; transport and infrastructure; and culture, youth and sports. Finally, an international treaty has been adopted (signed by the Minister of Foreign Affairs, José Manuel Albares, and his Omani counterpart, Badr Albusaidi) for the exemption of diplomatic, official, and service passports. <h5><strong>Meeting with business leaders</strong></h5> King Felipe VI and the Sultan of Oman presided over a meeting with Spanish business leaders on Wednesday morning at the Royal Palace of El Pardo, organized by the Ministry of Economy, Trade and Business. Among those attending were Minister Carlos Cuerpo, Secretary of State for Trade Amparo López Senovilla, President of the Spanish Confederation of Employers' Organizations (CEOE), Antonio Garamendi, and President of the Spanish Chamber of Commerce, José Luis Bonet. Nine Spanish business leaders from strategic sectors, such as infrastructure, technology, energy, sustainable development, and finance, also participated, discussing opportunities for bilateral collaboration in investment, innovation, and industrial development. Bilateral trade has shown a stable trend since 2020, despite the complex international context. Spanish exports remain above €200 million annually and, through August of this year, exceeded €90 million. The main exported products are non-chemical semi-manufactured goods (iron and steel) and capital goods (industrial machinery). In 2023, a total of 1,151 Spanish companies exported to Oman, of which 432 are regular exporters. In addition, Spain's investment stock in Oman amounts to €74.4 million (latest data available, 2023), highlighting the potential for increased investment in strategic areas such as infrastructure, energy, defense, tourism, and aviation. Regarding joint investment, COFIDES and the Oman Investment Authority (OIA) sovereign wealth fund launched a €200 million joint fund in 2018 to support investment and the internationalization of Spanish companies. After fully utilizing the capital in 2023, a second fund of €100 million was created to continue investing in key sectors.
