UK-Oman statement: £7bn export-finance capacity

The UK and Oman have set out a new programme of investment, education and maritime cooperation, with UK Export Finance raising its capacity for supporting exports to Oman to £7 billion. A joint statement published on October 23 says the country limit has increased by £1.6 billion, following Sultan Haitham bin Tarik’s October 20 to 22 state visit to Britain.

The joint statement sets out commitments across industrial investment, defence, shipping and skills. Several are plans for further cooperation rather than completed projects. The £7 billion figure is export-finance capacity: the statement does not describe it as money already invested or paid to Oman.

Investment plans and the trade agreement

The two countries will use a Sovereign Partnership for Cooperation and Promotion of Investment to connect the UK’s Office for Investment with the Oman Investment Authority. Its proposed areas of cooperation include green industries, advanced technologies, critical minerals, space and finance for growing businesses. Omani industrial zones and innovation clusters are identified as locations for using UK expertise.

In its earlier October 21 announcement, the UK government said infrastructure company Yamna was set to sign an agreement for a large AI data centre in Salalah. It expected the first phase to exceed £1 billion and generate more than 100 highly skilled jobs in the UK through the export of British expertise.

Those were government projections attached to a planned agreement. Neither release provides a construction-completion date or establishes that the projected jobs have already been created. The October 21 announcement also said Oman had invested £1.7 billion in the UK since the countries’ Sovereign Investment Partnership began in 2022.

The latest statement leaves the UK-Gulf Cooperation Council trade agreement at a separate stage. It says the agreement would offer additional trade and investment opportunities once signed and implemented. Trade ministers discussed the steps needed for signing, so the visit’s announcement should not be read as confirmation that the trade agreement is already operating.

For green projects, UK Export Finance and the Oman Net Zero Centre announced closer cooperation. A proposed Oman Green Growth Roadshow delegation is planned for 2027. Net Zero Industry Wales and the Omani centre are also to create links between industrial clusters, renewable-energy businesses, universities and public bodies.

Shipping, security and education

The statement calls for maritime security and safe international shipping through the Strait of Hormuz, while reaffirming Oman’s sovereignty over its waters there and referring to international law. In the October 21 meeting readout, Prime Minister Andy Burnham thanked Oman for its work to reopen the strait. The leaders agreed on keeping it open to reduce pressure on global supply chains.

The shipping language is a diplomatic commitment, not a traffic bulletin or a new operating notice for vessels. The earlier announcement described a planned maritime-cooperation memorandum involving information sharing and knowledge exchange with the Omani Maritime Security Centre.

Defence cooperation includes preparations for the Saif Sareea IV exercise and exploration of longer-term exercises, capability development, testing and maritime-security information exchange. The countries also intend to expand cyber-security cooperation. The joint statement gives no exercise dates or troop numbers.

In education, the statement welcomes Chevening’s return to Oman for the first time since 2021. The October 21 announcement gives August 2027 as the opening period for applications. This is a future application window, not an announcement that applications are open now.

A British Council pilot will examine AI-assisted education in Omani schools. The earlier release describes work on English-language learning and helping teachers use AI safely and effectively. The package also includes Oman Net Zero Centre-Cardiff University scholarships and cooperation on skills and professional qualifications, without listing application terms for those scholarships.

The UK Space Agency and Oman’s National Space Programme have also agreed to exchange best practice, explore cooperation on space launch and encourage commercial partnerships. These sit alongside planned technical exchanges on AI, data centres and critical minerals. The statement identifies cooperation mechanisms, but does not announce a shared launch date or a completed space project.

Contains public sector information licensed under the Open Government Licence v3.0. Sources: UK Prime Minister’s Office and Foreign, Commonwealth & Development Office. This independent report does not imply government endorsement.