Iran, Oman to strengthen cooperation in trade, economic fields: Official
A golden opportunity has been created for Iran and Oman to expand cooperation in the trade and economic fields, said the chairman of the Iran-Oman Joint Chamber of Commerce.
Free and special economic zones are considered good opportunities for the development of cooperation between the two countries, Jamal Razeqi emphasized, according to Tasnim news agency.
Pointing to the investment capacities and economic interactions of Iran and Oman, he said, “Given the trade and economic infrastructures, the way has been paved for the two countries to broaden their activities in the trade and economic fields.”
The official added that the volume of exports and bilateral trade between the two countries registered a 52 percent growth last year, as compared to a year earlier.
On Sunday, Iran’s Finance Minister Ehsan Khandouzi signed a major memorandum of understating with his Omani counterpart on joint investment projects.
“The purpose of the agreement signed between the two countries is to move from an era of trade to an era of investment between the two countries,” Khandouzi was quoted as saying by the IRIB.
He said Iran and Oman had agreed to set up a joint committee for investment, adding that the two countries had also reached an initial understanding for a joint investment support mechanism.
Experts say an investment agreement with Oman secures new access for Iranian firms to invest in the Arab country, while managers and specialists from Iranian companies will be able to work in Omani subsidiaries for several years without restrictions.
The agreement will also remove project limitations on many services and will dismantle joint venture requirements in several key sectors like manufacturing and services.