Oman and China Sign Currency Swap and 23 Investment Deals Spanning AI and Digital Economy

The signings, attended by Sultan Haitham and Chinese President Xi Jinping, cover finance, investment, artificial intelligence, green development, digital technology and industrial supply chains.

The currency swap was agreed between the Central Bank of Oman and the People's Bank of China. Its value, duration and operating terms were not disclosed. Forbes Middle East described the investment agreements as worth billions of dollars, but no total figure appeared in the full-text reporting available.

What Was Signed

The Oman Investment Authority, the sultanate's sovereign wealth fund, signed 23 agreements, memoranda and strategic and investment partnerships with Chinese institutions and companies on the sidelines of the Oman-China Forum in Beijing. The forum focused on finding new investment opportunities and increasing trade and investment flows between the two countries, according to the Oman News Agency. The individual counterparties and deal sizes were not named in the report.

The 14 government-level memoranda and protocols include cooperation on artificial intelligence, data and the digital economy, science and innovation, and green investment. The two sides also agreed to work together on central bank digital currencies, industrial investment and supply chains, and on regulatory coordination in securities and futures markets.

The package extends to the peaceful use of outer space and to applications of China's BeiDou satellite navigation system. Other documents cover competition and anti-monopoly rules, protected natural areas, archives, media cooperation, and inspection and quarantine requirements for Omani dried dates exported to China.

Why It Matters

The agreements show Muscat widening its relationship with Beijing beyond oil and gas trade into finance and technology. China is Oman's largest crude buyer, and the new deals add a monetary component through the currency swap and digital currency cooperation, along with formal commitments on AI and data.

For investors and technology companies in the Gulf, the visit adds Oman to the list of GCC states signing technology agreements with China, while neighbours such as the UAE and Saudi Arabia have been deepening AI partnerships with US companies. Because the reported terms are thin, with no values, timelines or company names, the commercial weight of the AI and digital economy memoranda will depend on the projects that follow.

Sultan Haitham's state visit was aimed at strengthening bilateral relations and opening new areas of long-term economic cooperation, according to the Oman News Agency.