Although the Sultanate is host to around 33,000 Filipinos, its trade relations with the Philippines have been in need of a boost. During the Consultations, both sides agreed that economic cooperation is a cornerstone of bilateral relations and should be promoted. To address this, the Omani side recommended the exchange of visits between the private sectors of both countries to take advantage of opportunities present in the two countries. They also recommended that Philippine universities participate in an educational exhibition in Muscat to encourage thousands of Omani government scholars to pursue higher education in the Philippines.

The IBC concluded with the signing of the Philippines-Oman Memorandum of Understanding on Bilateral Consultations, which creates a formal mechanism that will convene regularly to expand bilateral cooperation in political, economic, cultural, technological, scientific and educational matters.

Source:https://www.dfa.gov.ph/index.php/2013-06-27-21-50-36/dfa-releases/2084-philippines-oman-hold-2nd-informal-bilateral-consultations