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Oman's strategic location at the southeast corner of the Arabian Peninsula positions it as a crucial gateway to the Gulf Arab countries, including Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, and Bahrain, offering significant opportunities in port utilities, gas pipelines, and supporting infrastructure. As a vital member of the Gulf Cooperation Council, Oman not only plays a crucial role in regional economic growth and security but also contributes to the synergy among GCC members, further enhancing stability and safety across these nations. This collaboration positions the GCC countries, including Oman, as beacons of safety, recognized among the top ten safest countries in the world according to the 2023 crime index by Numbeo. Oman's pivotal role in the region underscores its significance as a significant hub for investment and development, promising a future rich with potential for businesses and investors alike.
Oman's seaports, including the strategically important Port of Salalah, Sohar Port, and Duqm Port, serve as pivotal hubs for maritime trade not only within the Sultanate but across the entire Gulf Cooperation Council (GCC) region. These ports, renowned for their advanced infrastructure, efficient operations, and strategic locations on the Arabian Sea, facilitate seamless connections between the GCC countries, enhancing trade routes and economic ties. Oman, by leveraging its geographical advantage, acts as a gateway for goods entering the GCC from Asia, Africa, and beyond, thus playing a crucial role in the economic integration and cooperation among the GCC members. The synergy between Oman's seaports and the GCC network underscores a shared commitment to fostering regional trade, economic stability, and growth, making Oman an indispensable part of the Gulf's maritime and trade ecosystem.
With its forward-looking Vision 2040, Oman is committed to diversifying its economy, investing in infrastructure, and fostering a business-friendly environment. These initiatives signal a bright future for the country, making it an attractive destination for international investments and enterprises.
The economic ties between Oman and Thailand are significantly influenced by the disparity in their currencies, with the Omani rial being much stronger than the Thai Baht. This currency strength benefits Omani investors and tourists, offering them more purchasing power in Thailand, and makes the country an appealing destination for tourism and investment. Conversely, it provides Thailand with opportunities to attract Omani investment in various sectors, enhancing the economic relationship and mutual benefits for both nations.
The relationship between Oman and Thailand is deeply rooted in their shared values of hospitality and warmth, which has not only made Thailand a favored destination for Omani tourists but also laid the groundwork for stronger diplomatic and economic ties. Since the 1980s, trade between the two countries has grown, with political consultations starting in 2017 to further deepen their partnership. This evolving relationship, characterized by cultural affinity and mutual respect, continues to expand into various sectors, promising a future of mutual prosperity and closer bilateral connections