(MENAFN) The Head of Iran's Trade Promotion Organization (TPO), Mehdi Zeighami, recently met with the director of trade, industry, and investment development from the Sultanate of Oman to discuss bilateral cooperation in various sectors. The discussions focused on joint investment opportunities, industrial collaboration, and financial matters aimed at strengthening economic ties between Iran and Oman.

Zeighami, who also serves as the deputy industry minister, announced that the initial round of negotiations to establish a Preferential Trade Agreement (PTA) between Iran and Oman took place in Muscat. Highlighting the significance of this agreement, he emphasized that enhancing trade and economic relations across all domains is a top priority for both nations.

According to Zeighami, the trade volume between Iran and Oman reached unprecedented levels in the last Iranian calendar year, which ended in March 2024. He underscored that the PTA initiative is aligned with strategic objectives such as boosting economic ties, expanding trade volumes, ensuring a conducive environment for trade growth, diversifying the range of traded goods, promoting healthy competition among businesses, and addressing trade barriers faced by both countries.

The outcomes of these discussions will undergo formal approval processes by the respective legal authorities in Iran and Oman, paving the way for closer economic integration and mutual benefits between the two nations.

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