The United Arab Emirates signed agreements with the Sultanate of Oman worth 129 billion UAE dirhams with the aim of cooperating in several projects, most notably renewable energy. This came during the Emirati-Omani Business Forum and the visit made by Sultan Haitham bin Tariq to the Emirates.

The UAE Ministry of Investment said that the agreements aim to strengthen investment partnerships between Oman and the Emirates, noting that the project that was signed is worth $117 billion, and includes renewable energy projects and energy production, including wind and solar energy projects, and the project includes green metal factories, which were established Signed by Abu Dhabi National Energy Company, Emirates Arkan Company, Alternative Energy Company, and Oman Electricity Transmission Company.

The relations between Oman and the Emirates are characterized as being close and historical and a fundamental pillar of mutual cooperation, and the new agreements came as an important step that would pave the way for further development of relations by harnessing efforts to achieve a common vision for economic growth and prosperity for both countries.

The UAE is considered one of the distinguished and leading countries in the world in the field of investment and trade with the Authority of Oman. The volume of non-oil trade reached approximately 51 billion dirhams during 2023.

The new agreements aim to strengthen relations in key sectors in addition to providing a climate that benefits society and economic growth towards a stable and better future between Oman and the Emirates. The forum also aims to confirm the commitment of the two countries in investment partnerships amounting to approximately 129 billion dirhams, and this step is considered important for economic cooperation to drive growth. And development through strategic investments between the two countries.