As Sri Lanka and Oman are strategically located sharing the Indian Ocean, both countries are well poised for greater connectivity and deeper economic engagement. The vibrant people-to-people contact and cordial bilateral relations at all levels enhances the immense potential available for further growth in economic cooperation.
Sri Lanka and Oman signed an Agreement on the Avoidance of Double Taxation and Prevention of Fiscal Evasion which in August 2018 which has laid the foundation for stronger business partnership. An MOU between the National Chamber of Commerce of Sri Lanka (NCCSL) and the Oman Chamber of Commerce and Industry (OCCI) was signed virtually in 2021 with a view to boosting bilateral trade and investment between the two countries.