Oman's trade surplus with ASEAN bloc stands at around $3.4 billion

Muscat: The Sultanate of Oman is participating in the 59th ASEAN Foreign Ministers' Meeting in Manila, Philippines, as part of its efforts to strengthen economic and strategic ties with Southeast Asian nations and expand cooperation in key growth sectors.Oman's participation in the ministerial meeting reflects its commitment to enhancing its presence in the ASEAN region, broadening trade and investment opportunities, and deepening collaboration on regional priorities of mutual interest. Held under the Philippine chairmanship and themed "Exploring the Future Together," the 2026 ASEAN Ministerial Meeting provides Oman with a platform to reinforce partnerships in strategic sectors, including logistics, maritime transport, energy and green hydrogen, food security, tourism, digital transformation, emerging technologies, and advanced manufacturing.The meeting also coincides with the 50th anniversary of the Treaty of Amity and Cooperation in Southeast Asia, a landmark agreement that promotes peaceful relations, dialogue, and cooperation among countries. Oman acceded to the treaty in 2022 through Royal Decree No. 7/2023, reaffirming the principles that have long shaped its foreign policy, including dialogue, mutual respect, peaceful coexistence, adherence to international law, and constructive international engagement.Relations between Oman and ASEAN member states have continued to strengthen in recent years. Merchandise trade between Oman and ASEAN reached approximately $15 billion by the end of October 2024, while Oman's trade surplus with the bloc stood at around $3.4 billion, underscoring the growing importance of Southeast Asia as a key economic partner for the Sultanate.Oman's participation in the meeting is expected to further advance economic cooperation, attract new investments, and create opportunities for deeper engagement with one of the world's fastest-growing regional blocs.