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Oman and Kazakhstan agree on a 150 million dollar joint fund

Oman and Kazakhstan agreed to establish a joint investment fund during Sultan Haitham bin Tarik’s first state visit to the country. The 150 million dollar fund is part of a wider package covering investment protection, air services, energy and business links. The leaders also backed closer transport connections between Central Asia and the Gulf.

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Sultan Haitham bin Tarik and Kassym-Jomart Tokayev stand behind closed folders in a formal hall, with Omani and Kazakh flags.

Astana visit brings a jointly financed fund

Oman and Kazakhstan agreed on a 150 million dollar joint investment fund during Sultan Haitham bin Tarik’s state visit to Astana. President Kassym-Jomart Tokayev received the Sultan at the Palace of Independence. The 5–6 October visit was the first state visit to Kazakhstan by an Omani Sultan. Investment protection, air services and the joint fund were among the agreements signed in the leaders’ presence, alongside arrangements for an Oman–Kazakhstan Business Council.[1], [2]

The Oman Investment Authority and Kazakhstan’s state investment fund Samruk-Kazyna are to contribute equally. Food, industry, healthcare, renewable energy and logistics are the fund’s investment priorities. Projects in third countries may also be considered when they add value to the two countries’ projects. The visit also included an agreement concerning the conditions for the Eurasian Development Bank’s presence in Oman.[1], [2]

Energy firms agree to assess investment opportunities

OQ Exploration and Production, an Omani energy company, and Kazakhstan’s national oil and gas company KazMunayGas signed a cooperation agreement to assess exploration and production opportunities. Discoveries, development projects and producing fields in the two countries and other markets are within its scope. O-Green and Samruk-Energy also signed a strategic cooperation document targeting solar and wind projects with battery storage. The documents establish planned joint work rather than completed energy investments.[1]

Central Asia and the Gulf seek closer transport links

The leaders backed stronger transport and logistics connections between Central Asia and the Gulf. They supported direct, regular air services and discussed trade routes through Omani ports. Broader product exchanges, fewer trade barriers and better access to each other’s markets are among their stated aims. Financial-centre partnerships, academic exchanges and regular political dialogue also feature in the joint statement. The leaders reaffirmed respect for sovereignty and territorial integrity and support for peaceful settlement of disputes. The Sultan invited Tokayev to Oman at the close of the visit. Agriculture, food security, education and research were also identified as fields for cooperation.[1], [2]

References

  1. News sourceThe Arabian StoriesOman and Kazakhstan announce joint fund and cooperation deals↩1↩2↩3↩4
  2. News sourceForeign Ministry of the Sultanate of OmanOman and Kazakhstan sign investment, air services and joint fund agreements↩1↩2↩3
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