Iran-Oman nine-month trade tops $1.1b: TPO
The director-general of the West Asia Department at the Trade Promotion Organization of Iran (TPO) announced that approximately $1.146 billion worth of goods were exported to Oman in the first nine months of this year (March 20-December 19, 2024), marking a 15% increase compared to the same period last year.
Abdolamir Rabihavi, told IRNA that the joint economic cooperation commission between Iran and Oman was held in recent weeks.
He added that during the same nine-month period, imports from Oman to Iran amounted to about $631 million, reflecting a 9% decline compared to the previous year.
Rabihavi highlighted recent negotiations between Iran’s Minister of Industry, Mine, and Trade and Omani officials in Muscat, stating that agreements and the development of bilateral relations aim to break trade volume records with Oman by the end of this year and achieve a 15% growth rate.
The official emphasized that Tehran and Muscat are committed to strengthening trade ties, mentioning that Mohammad Atabak, Iran’s Minister of Industry, Mine, and Trade, led a delegation of government officials and private sector representatives to Oman on January 22 to attend the 21st session of the Iran-Oman Joint Cooperation Commission.
Rabihavi added that numerous trade and logistics issues were discussed during the commission, resulting in several agreements, many of which stemmed from a year of follow-ups.
A key achievement was the participation of the private sector, coordinated by the Iran Chamber of Commerce and the Iran-Oman Joint Chamber of Commerce.
He noted that bilateral meetings with Omani counterparts were held on the sidelines of the commission, along with visits to production and investment units, providing Iranian traders with a clear picture of Oman’s production and investment landscape and market potential.
Rabihavi stated that discussions covered various topics, including trade volume, customs and visa facilitation for traders, maritime transit, the use of Iran as a hub for Eurasian Economic Union products destined for Omani markets, and the promotion of both countries’ capabilities to boost trade.
He also mentioned the signing of a cooperation agreement between Iran and Oman, with Atabak holding separate meetings with Oman’s Minister of Transport Saeed bin Hamoud bin Saeed al Maawali, Minister of Energy and Minerals Salim bin Nasser bin Said al Aufi, and Head of Oman’s Investment Authority Abdulsalam al Murshidi.
Following the meetings, the ministers of both countries signed the commission’s agreement.
Rabihavi expressed optimism about ongoing negotiations for a preferential trade agreement, which is expected to address customs tariff adjustments and trade facilitation.
He added that a subsequent visit in the next two weeks will finalize the agreement.
Rabihavi also said the joint commission yielded significant achievements for Iran, with the potential to boost trade.
He highlighted Oman’s free trade agreements with many countries, including those in the Persian Gulf region, and suggested that Iran could leverage Oman’s capacity for re-exporting Iranian goods.