New Co-chair of Oman–Russia Intergovernmental Commission: What This Means for Bilateral Business and Investment Opportunities
MUSCAT: The Russian Government has officially appointed Maxim Reshetnikov, Minister of Economic Development, as Chair of the Russian delegation to the Joint Omani-Russian Commission on Trade, Economic, and Technical Cooperation. This appointment was confirmed by a decree signed by Russian Prime Minister Mikhail Mishustin.
The intergovernmental commission’s establishment was formalized on April 22, 2025, during the state visit of His Majesty Sultan Haitham bin Tarik to Russia, where he met with President Vladimir Putin.
On the Omani side, the commission is chaired by Qais bin Mohammed al Yousef, Minister of Commerce, Industry, and Investment Promotion of the Sultanate of Oman.
Minister Reshetnikov highlighted Oman’s strategic importance, describing it as “one of Russia’s gateways to the Persian Gulf market,” noting Oman’s rapid development and increasing demand for international trade partnerships and joint ventures. He emphasized the vast potential for expanding cooperation across various sectors, including trade, investment, industry, energy, agriculture, science, education, information and communications technology, and cultural exchange. Reshetnikov pledged to vigorously represent Russian business interests within the commission’s framework.
Looking ahead, the commission plans to foster collaboration between private sectors and small- and medium-sized enterprises (SMEs) from both countries. It also aims to organize joint exhibitions, forums, and conferences as part of its trade and economic agenda.
On November 13, the first Oman–Russia Business Forum concluded in Muscat, marking a significant milestone in bilateral relations and establishing a new model for cooperation. The forum, held during a business mission coinciding with the 40th anniversary of diplomatic relations between the two nations, confirmed both parties’ commitment to making the event an annual fixture, thus creating a sustainable platform to advance their partnership.
Special Analysis by Omanet | Navigate Oman’s Market
The formalization of the Joint Omani-Russian Commission chaired by high-level ministers signals a strategic deepening of bilateral ties, opening vast opportunities in sectors like trade, investment, energy, and technology. For businesses in Oman, this creates a gateway to the Russian market and beyond in the Persian Gulf region, encouraging SMEs to engage in cross-border partnerships and innovation. Smart investors and entrepreneurs should closely monitor upcoming forums and cooperative projects as prime platforms to capitalize on emerging trade and industrial collaborations.
