Oman Oman Background In 1970, QABOOS bin Said Al Said ousted his father and has ruled as sultan ever since. His extensive modernization program has opened the country to the outside world and has preserved a long-standing political and military relationship with the UK. Oman's moderate, independent foreign policy has sought to maintain good relations with all Middle Eastern countries. Oman Economy Oman's economic performance improved significantly in 2000 due largely to the upturn in oil prices. The government is moving ahead with privatization of its utilities, the development of a body of commercial law to facilitate foreign investment, and increased budgetary outlays. Oman continues to liberalize its markets and joined the World Trade Organization (WTrO) in November 2000. GDP growth improved in 2001 despite the global slowdown and then fell back to 2.2% in 2002. In order to reduce unemployment, the government is trying to replace expatriate workers with local workers. Another government objective is the development of the nation's gas resources. Oman Location Middle East, bordering the Arabian Sea, Gulf of Oman, and Persian Gulf, between Yemen and UAE Oman Flag three horizontal bands of white, red, and green of equal width with a broad, vertical, red band on the hoist side; the national emblem (a khanjar dagger in its sheath superimposed on two crossed swords in scabbards) in white is centered near the top of the vertical band
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