Oman, Qatar sign agreement during Sudan’s visit to Doha | Business and Economic News

Following the visit of Haytham bin Tariq Said to Qatar, the Gulf countries signed agreements covering a range of fields including military cooperation and taxation.

Oman and Qatar signed agreements on military cooperation, taxation, tourism, ports, labor and investment, as Oman seeks to revitalize its debt-laden economy, the national news agencies of the two Gulf countries said.

Oman is one of the weakest countries in the Gulf oil-producing countries. Since Sultan Haytham bin Tariq Said came to power nearly two years ago after the death of his half-century predecessor, it has been implementing extensive reforms and austerity measures.

The agreements were signed during the two-day state visit of the Sultan Haytham of Oman to the small and wealthy Qatar, one of the world’s largest producers of liquefied natural gas (LNG).

Amiri Diwan, the administrative office of the Emir of Qatar, said on Monday that the transactions included a double taxation and tax evasion agreement on income and capital taxes, as well as a relationship between the sovereign wealth fund Qatar Investment Authority and the Oman Investment Authority. Investment cooperation agreement. .

More details about the transaction could not be obtained immediately.

Since the oil price plummeted in 2014, Oman, with a population of about 5 million, has accumulated a large amount of debt. It recently launched a mid-term plan to repair the financial situation that has also been hit by the COVID-19 pandemic.

According to the October 2020 bond prospectus, Oman negotiated financial assistance with some Gulf countries last year.

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