Annual trade between Tehran, Muscat tops $3b
Launch of direct shipping line to boost Iran-Oman trade
The launch of a direct shipping line will boost Iran-Oman trade, said the head of the Iran-Oman Joint Chamber of Commerce Jamal Razeqi on Tuesday.
The two sides have set an annual target of $5 billion for bilateral trade, he told ISNA as he criticized that the absence of a regular shipping line has prevented the growth of bilateral trade.
“In addition to the obstacles regarding sanctions, we have yet to launch a regular shipping line between Iran and Oman. Despite the negotiations, it has not come true due to the lack of financial resources,” Razeqi said.
Currently, annual trade between Iran and Oman has exceeded $3 billion, but the Iran-Oman Joint Chamber of Commerce has set a target of $5 billion, the senior businessman stated.
Iran shares land or water borders with 15 countries, namely the UAE, Afghanistan, Armenia, Azerbaijan, Bahrain, Iraq, Kuwait, Kazakhstan, Oman, Pakistan, Qatar, Russia, Turkey, Turkmenistan, and Saudi Arabia.
Expanding trade with the neighboring countries is one of the major plans that the Iranian government has been pursuing in recent years.