Home / Business/ Sri Lanka, Oman poised to strengthen economic cooperation with ministerial visit

Sri Lanka, Oman poised to strengthen economic cooperation with ministerial visit

Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 8 May 2019 00:00


Bilateral meeting with Oman’s Minister of Oil and Gas Dr. Mohamed Hamed Al Rumhy and officials of  ORPIC


Meeting with Oman’s Minister of Commerce and Industry Ali Masoud Al Sunaid

Oman is poised to strengthen economic cooperation following a top level Sri Lankan ministerial visit to Muscat last week.

A high-level ministerial delegation comprising Minister of Development Strategies and International Trade Malik Samarawickrama, Minister of Highways and Road Development and Petroleum Resources Development Kabir Hashim and Minister of Industry and Commerce, Resettlement of Protracted Displaced Persons, Co-operative Development and Vocational Training and Skills Development Rishad Bathiudeen undertook an official visit to the Sultanate of Oman together with a team of officials from the statutory agencies coming under the purview of the respective ministries for meetings with the Omani counterparts on 5 and 6 May.

The visit was a follow-up to the meetings Oman’s Minister of Oil and Gas Dr. Mohammed Hamed Al Rumhy had with the three Ministers in Sri Lanka in March, during the former’s visit to Sri Lanka as the Guest of Honour at the foundation stone laying ceremony of the green field oil refinery in Hambantota, on the invitation of Minister of Industry and Commerce. 

On 5 May, the delegation was taken on a familiarisation tour to the Sohar Free Zone and Port, where comprehensive presentations were made by the representatives of the Sohar Port Industrial Port company and Oman Oil Refineries and Petroleum Industries Company (ORPIC). 

During the familiarisation tour, the delegation was given a comprehensive briefing of the downstream sector of the oil and gas industry of Oman. The delegation had a site visit to the oil refinery and Liwa Plastic Industries Complex which is the new petrochemical complex developed by ORPIC. 

On 6 May, the delegation had official discussions with Oman’s Minister of Oil and Gas Dr. Mohammed Hamed Al Rumhy, Minister of Commerce and Industry Ali Masoud Al Sunaidi and State General Reserve Fund Chief Investment Officer Mulham Al Jarf. 

The meeting with Dr. Rumhy focused on exploring avenues for cooperation in the field of petroleum industry between Sri Lanka and Oman and sharing the experience of Oman in setting up of oil refinery projects in Oman and abroad. 

The Omani Minister reiterated the firm interest of the Oman Oil Company to take part in the Hambantota oil refinery project as an equity partner. The two delegations also discussed on providing training for the staff of the Ceylon Petroleum Corporation and Ceylon Petroleum Storage Terminals Ltd. in Oman.

At the meeting with Oman’s Minister of Commerce and Industry Ali Masoud Al Sunaidi, it has been agreed to expedite the process of finalising the Agreement on the Promotion and Reciprocal Protection of Investments between the Government of Sri Lanka and Oman. 

The Omani Minister has also proposed to work towards setting up of a joint commission headed by the Ministers of Industry and Commerce of the two countries to have a broader framework for bilateral cooperation.  At the meeting with Mulham Al Jarf, Chief Investment Officer of the State General Reserve Fund (SGRF), which is the sovereign wealth fund as well the main investment arm of the Sultanate, the Sri Lankan side briefed on the investment opportunities in the areas of ports development, fisheries, agriculture, hospitality industry and development of highways. The Omani side expressed their keen interest in exploring the investment opportunities in Sri Lanka and agreed to arrange a visit of an official team from SGRF for discussions with the relevant institutions in mid June 2019. 

The program for the visit to Oman was arranged by the Embassy of Sri Lanka in coordination with the relevant Omani authorities.


Share This Article

Facebook Twitter


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Revitalising the tourist inflows

Wednesday, 22 May 2019

Easter Sunday 21 April terror acts have dealt a very heavy blow on tourism. The inflow has dried up for the moment while it can be presumed that forward selling too may have become sluggish. It is noted that Government has introduced a series of meas

Truth has now arrived, and falsehood has perished

Wednesday, 22 May 2019

“And say: Truth has now arrived, and Falsehood has perished: for Falsehood by its very own nature is bound to perish.” Holy Quran: Chapter 17 Verse 81. Every discussion, debate and discourse that we see and hear over the audio – visual and prin

Afghan refugees face Jaffna’s hostility: These Sri Lankans are crazy

Wednesday, 22 May 2019

Abbas Ahmadi, an IT specialist, was rather high in the Afghan provincial civil service. He is of Hazara ethnicity and persecuted by the majority Pashtuns who ironically dominate the ruling faction as well as the rebelling Taliban.The Hazaras are inpa

One month gone: No charge on over 200 Catholics murdered

Wednesday, 22 May 2019

It’s been one month since the murder of around 300 innocent Catholic children and parents but no has yet been charged for the biggest negligence of duty that Sri Lanka has seen in recent history. The President and Prime Minister have both denied a

Columnists More