Oman and China Sign Currency Swap Deal and 14 Cooperation Agreements

Oman and China have signed a currency swap agreement and 14 memorandums of understanding (MoUs), marking a new step in their economic partnership.

The agreements were signed in Beijing on Monday, 2 November 2026, during the state visit of Oman’s Sultan Haitham bin Tarik. Chinese President Xi Jinping and Sultan Haitham witnessed the signing ceremony.

The agreements cover financial cooperation, artificial intelligence (AI), digital technology, green investment, space research and trade. They aim to strengthen links between the two countries and create new opportunities for businesses and investors.

Currency swap agreement strengthens financial ties

One of the key agreements involves the Central Bank of Oman and the People’s Bank of China.

The currency swap arrangement is designed to support financial cooperation between the two countries. Such arrangements can help central banks provide liquidity in each other’s currencies and support cross-border trade.

However, the authorities have not announced the value, duration or operating terms of this agreement.

The deal comes as Oman seeks to expand its financial and investment links with China. China is already Oman’s largest trading partner.

Cooperation covers AI and digital finance

The 14 MoUs cover several areas of technology and economic development.

These include artificial intelligence, digital technology, science, innovation and cooperation in the digital economy.

The two countries also signed documents covering central bank digital currencies, securities markets, futures markets and data regulation.

The agreements could create opportunities for financial institutions, technology companies and investors in both countries.

They also reflect the growing importance of digital services in international trade and finance.

Green investment and industrial supply chains

Green development and investment in industrial supply chains form another part of the cooperation package.

Oman wants to attract investment into sectors that can support economic diversification and create new industries.

The agreements also cover cooperation in space science, space technology and the use of China’s BeiDou satellite navigation system.

Other areas include competition protection, the management of natural reserves, vegetation development and the exchange of historical records.

These areas show that the partnership extends beyond oil and traditional trade.

New opportunity for Omani exports to China

The two countries also signed a protocol covering inspection, quarantine and health requirements for dried dates exported from Oman to China.

The protocol sets out requirements for this food export trade. It could help Omani date producers access the Chinese market, subject to meeting the agreed standards.

Agriculture and food exports are important areas for Oman as it works to broaden its trade base.

A wider partnership beyond energy

Sultan Haitham’s visit is the first by an Omani head of state to China since the two countries established diplomatic relations in 1978.

During talks in Beijing, the leaders discussed cooperation in energy, renewable energy, manufacturing, logistics, food security and digital trade.

Sultan Haitham also proposed a preferential bilateral trade and investment agreement to increase commercial exchanges and encourage joint projects.

The latest agreements provide a framework for cooperation across several sectors. Their long-term impact will depend on how quickly both sides turn the documents into active projects and business partnerships.

For Oman, stronger economic ties with China could support its efforts to diversify the economy and attract investment. For China, the partnership offers deeper access to a Gulf trading partner with an important position along regional maritime routes.