Iran's Exports to Oman Increase by Almost 100 Percent, Trade Activities to be Expanded
Date
4/10/2023 3:40:36 AM
(MENAFN) According to the deputy chairman of the Iran-Oman Joint Chamber of Commerce, Shahla Amouri, Iran's exports to Oman have increased by almost 100 percent in the past Iranian calendar year 1401, which ended on March 20. Amouri reported that Iran's export to Oman rose to USD1.2 billion in the past year from USD600 million in the preceding year. She also put the value of annual trade between the two countries at USD2 billion in the previous year.
Amouri also stated that trade activities between the two countries will be expanded. She referred to the reduction of the cost of registering a commercial company in Oman for foreign investors as a good opportunity for Iranian traders and businessmen to develop Iran's foreign trade. She added that the Iranian enterprises can take advantage of this opportunity to further grow trade with Oman.
In November 2022, Oman's Deputy Minister of Commerce, Industry, and Investment, Saleh bin Said Masan, announced that Iran and Oman are finalizing a mechanism for facilitating financial exchanges between the two countries. The Omani deputy minister said that the two countries are still facing challenges in trade exchanges, but the central banks of both countries have offered different solutions to these challenges.
Referring to a memorandum of understanding signed between the two countries on trade cooperation and customs facilities, the Omani minister said technical teams from both Iran and Oman are working to take the agreements into effect. The Omani government's agreement to reduce the cost of registering commercial companies has been implemented to develop trade with other countries, and Iranian enterprises can take advantage of this opportunity to further grow trade with Oman.
In a meeting with the Head of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA), Gholam-Hossein Shafeie, Saleh bin Said Masan emphasized the huge capacities for the expansion of trade between Iran and Oman. Shafeie mentioned that Iran can export to other countries, especially African countries, through Oman, which would be in line with the interests of both sides. The reduction of commercial company registration fees in Oman for foreign investors has been conducted since April 1, and this is expected to further boost trade activities between Iran and Oman.
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