Watch Oman, Qatar signal agreements throughout sultan’s go to to Doha | Business and Economic system News – Al Jazeera English News

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Watch Oman, Qatar signal agreements throughout sultan’s go to to Doha | Business and Economic system News – Al Jazeera English News Youtube HD Video Online

Gulf states signal agreements protecting a spread of areas together with army cooperation and taxation as Haitham bin Tariq Al Mentioned visits Qatar.

Oman and Qatar have signed agreements on army cooperation, taxation, tourism, ports, labour and funding as Oman seeks to invigorate its debt-burdened financial system, the state information companies of each the Gulf states mentioned.

Oman is among the many weakest financially of the Gulf oil producers. It has been pursuing wide-ranging reforms and austerity measures since Sultan Haitham bin Tariq Al Mentioned took energy nearly two years in the past following the demise of his predecessor who dominated for half a century.

The agreements had been signed throughout a two-day state go to by Oman’s Sultan Haitham to the small however rich state of Qatar, one of many world’s high producers of liquefied pure fuel (LNG).

The offers included an settlement on double taxation and tax evasion on revenue and capital taxes, and an funding cooperation settlement between sovereign wealth funds the Qatar Funding Authority and the Oman Funding Authority, mentioned Qatar’s Amiri Diwan, the executive workplace of the emir, on Monday.

Additional particulars on the offers weren’t instantly accessible.

Because the oil worth crash in 2014, Oman, a rustic of round 5 million individuals, has accrued massive quantities of debt. It lately launched into a medium-term plan to repair its funds that had been additionally hit by the COVID-19 pandemic.

Oman was in talks final yr with some Gulf nations for monetary assist, in accordance with an October 2020 bond prospectus.

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