By Tass
DUBAI, July 3. /TASS/. Oman and Russia are negotiating the launch of joint investment projects to enhance food security, as well as develop agriculture projects and water resources in the sultanate, Undersecretary of the Ministry of Agricultural, Fisheries, and Water Resources of Oman Ahmed bin Nasser Al Bakri said, according to Arabian Gulf Business Insight.
“The ongoing investment plan between Oman and Russia on food security is a strategic one. It will boost our agricultural and fisheries sectors and we are looking to tap Russian experience for our food security,” he was quoted as saying.
Following the negotiations, the parties plan to sign a memorandum of understanding to advance sustainable food systems in different parts of Oman, the official added.
Last week Oman鈥檚 Salalah Mills company located in the Dhofar Governorate signed an agreement to import 110,000 tons of Russian wheat. The shipments were intended to replenish the strategic reserves of grain, the company noted.
Oman has set aside around $13 bln for food security investments by 2040 in projects ranging from building up stocks and cultivating arid land to financing local farmers and fishermen, according to the publication. In particular, an agricultural city in Saham, a town in the northern province of Batinah, worth $4.2 bln is currently being built. The farms will be distributed to 30,000 farmers living in the area once completed in the third quarter of 2026.
Russia is the world鈥檚 third largest wheat producer, after India and China, according to the UN Food and Agriculture Organization (FAO). That said, the European Union imposed tariffs on Russian and Belarusian grain imports in 2024, which complicated Russia鈥檚 ability to sell its agricultural products abroad.