Pezeshkian: Iran-Oman trade could reach $30b
Iranian President Masoud Pezeshkian emphasized Iran and Oman’s pivotal role in connecting regional markets, stating, “With adequate infrastructure, economic exchanges between Iran and Oman could reach $20 to $30 billion.”
Speaking during the second day of his visit to Oman on Wednesday, Pezeshkian highlighted opportunities for strategic partnerships with Africa, Russia, Central Asia, Afghanistan, Pakistan, Turkey, and Europe, leveraging the two nations’ geopolitical advantages to expand trans-regional trade.
Addressing the Iran-Oman joint economic forum, he added, “Achieving the goal requires shared resolve and vision,” stressing that such cooperation could transform regional dynamics.
According to Iran’s Chamber of Commerce, the bilateral trade with Muscat has surpassed $2 billion in recent years.
The Iranian president underscored the urgency of strengthening commercial, banking, and transit ties.
Reflecting on his talks with Sultan Haitham bin Tariq, he remarked, “Today’s priority is developing infrastructure to enhance land, sea, and air connectivity. Only through this foundation can we deepen economic, industrial, scientific, and trade collaboration.”
Pezeshkian stated, “Without proper linkage of banking systems, broad economic engagement remains unattainable.”
Establishment of joint bank
The president confirmed that Iran’s Central Bank Governor Mohammad Reza Farzin is part of the delegation and has held constructive meetings with Omani counterparts to facilitate financial exchanges.
Farzin has noted that the CBI is exploring the establishment of a joint bank and expanded monetary cooperation with Oman to enable direct transactions.
“Trade between Iran and Oman hinges on resolving banking and monetary mechanisms, which requires parallel evaluation of commercial frameworks,” Farzin said.
Addressing the financial integration on Wednesday, Pezeshkian further proposed leveraging private sector capacities to transform bilateral collaborations in science, medicine, culture, security, and economics into a stable regional network. An 85-member Iranian trade delegation — representing sectors like technical engineering, food industries, mining, AI, petrochemicals, medical equipment, and tourism — is currently in Oman to advance these goals.
Iran Chamber’s seven proposals
At a forum on Iran-Oman trade opportunities, Samad Hassanzadeh, head of Iran’s Chamber of Commerce, outlined seven proposals to deepen economic ties, advocating for joint investment projects as a key strategy.
Hassanzadeh, speaking at the conference held with the participation of Iran’s trade delegation in Muscat, stated that in recent years, bilateral trade volume between the two countries has surpassed $2 billion, and there are bright prospects for significantly increasing this figure, as reported by IRNA.
Inviting investors to sectors such as oil, gas, petrochemicals, renewable energy, water supply projects, power plant industries, transportation, mining, agriculture, automotive manufacturing, information technology, tourism, and hospitality, Hassanzadeh said, “Full investment opportunities exist either independently or through partnerships with Iranian investors in the mentioned sectors.”
In another part of his remarks, the head of Iran’s Chamber of Commerce highlighted tourism — particularly medical tourism — as a key area of cooperation between Iran and Oman.
“Iran’s private sector is prepared to collaborate and provide services to Omani medical tourists. According to estimates, around 4 million Arab tourists enter Iran annually, of whom approximately 1 million visits for medical and healthcare services,” he added.
Hassanzadeh noted, “Energy sectors, construction of wind and solar power plants, and water and wastewater facilities represent another emerging area of collaboration, where Iranian companies’ expertise and capabilities can be utilized.”
Hassanzadeh concluded, “Our private sector stands ready to contribute meaningfully to Oman’s development and shared regional progress.”