Oman-Iran trade exchanges predicted to reach $2b: Iranian official

Oman-Iran trade exchanges predicted to reach $2b: Iranian official

Chairman of the Iran-Oman Joint Chamber of Commerce Mohsen Zarabi said in a meeting on Wednesday that the trade volume stood at 1.336 billion dollars in last Iranian year (March 21, 2021 to March 20, 2022), indicating 57 percent hike in comparison to the previous Iranian year (March 21, 2020 to March 20, 2021).

The Iranian export to Oman witnessed 28 percent increase to reach 203 million dollars in the first two months of the current Iranian year (March 21 to May 21, 2022), Zarabi noted, adding that Iran’s import from Oman also mounted 187 percent to reach 128 million dollars.

According to the head of Iran-Oman Joint Chamber of Commerce, total mutual trade also increased 145 percent to reach 331 million dollars in the same period.

He referred to bilateral agreements to expand trade ties, saying that one of the ways to increase economic exchanges is introduction of Iran-made products to make Omani tradesmen aware of the Iranian commodities, and that dispatching trade delegations and holding exhibitions can play key role in this respect.

The presence and activity of Iranian companies in Oman can help boost trade relationship, he said, adding that some trade delegations from provinces, as well as specialized associations, were dispatched last year to Oman, and that the Iran-Oman Joint Chamber of Commerce is going to send other groups to the Arab country in this year.

Pointing to the fact that the cost of participating in exhibitions is very high for producers, he noted that in accordance with agreements, Iranian economic actors will be provided with special discount, which has been announced 40 percent reduction in the first phase.

For his part, Omani ambassador to Iran Ibrahim Ahmed al-Ma’aini described bilateral trade figures as promising, expressing hope that the statistics will remain upward, which can be realized as a result of efforts are being made by officials of both countries.

The Sultanate of Oman tries to remove obstacles and problems in the way of expanding trade relationship with Iran, he said, noting that the declared trade statistics are outcome of the endeavors.

Al-Ma’aini went on to say that Oman welcomes joint projects and development of trade services between the two nations, noting that in contradiction with the problems of sanctions for Iran, Muscat and Tehran are developing ties, and that good outlook is predicted for the future of mutual ties between the two countries.

Iran’s ambassador to Oman Ali Najafi said that despite the brutal US sanctions and the restrictions because of the COVID-19 pandemic, mutual trade with Oman experienced a 100% increase, and that both countries’ officials still hope to use the existing potentials from both sides to enhance the bilateral trade exchanges.

Amicable relationship between Oman and Iran paved the way for expansion of economic and trade ties; thus, Oman ranked 6th among Iran’s neighboring countries and second among the Persian Gulf littoral states in terms of its imports from the Islamic Republic, Najafi argued.


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