Other BriefingsIran, Oman, Planning To Sign Preferential Trade Agreement
Iran and Oman are planning to boost their economic ties by signing a preferential trade agreement in the near future, the head of Trade Promotion Organization of Iran (TPOI), Mehdi Zeighami has said. According to Zeighami, the two countries are to hold talks on the details of the agreement, which will cover various sectors such as trade, investment, industry, mining, banking, agriculture, oil and gas.
Zeighami said that Oman is a strategic partner for Iran in the Persian Gulf region and that the trade volume between them reached US$1.8 billion last Iranian year (March 21, 2022 through March 20, 2023). He expressed hope that the trade value will increase further this year (March 21, 2023 through March 19, 2024).
Iran exports mainly halal meats, petroleum coke and corn to Oman, while Oman exports tobacco, corn and AV equipment. Iran is a major player in the INSTC multimodal transport network with links to Turkiye, Russia and Europe that Oman will be looking to access.
The joint economic cooperation commission between Iran and Oman will meet in Tehran on December 6-7 to discuss the cooperation opportunities.
