Economy & Politico

good news iran: Iran-Oman trade exchange value to hit $1.2bn by yearend

Speaking in an interview with Fars news agency on Monday, Mohsen Zarrabi Chairman of Iran-Oman Joint Chamber of Commerce put the trade value exchanged between Iran and Oman in the first 10 months of the current Iranian calendar year (from March 21, 2021 to Jan. 22, 2022) at $1 billion, expandable to $1.2 billion by the yearend.

Turning to the objectives behind the visit of the Iranian Minister of Industry, Mine and Trade along with economic activists of the private sector to the Sultanate of Oman, Zarrabi stated this visit was cancelled due to the spread of COVID-19.

Oman is a lucrative target market for re-export of Iranian products, he emphasized.

Elsewhere in his remarks, Zarrabi pointed to the salient advantages of re-export of Iranian products from Oman and stated, “Oman has concluded a Free Trade Agreement (FTA) with 16 Arab and African countries, United States, Singapore and four European countries, so if our products are not subject to sanctions with a reliable certificate from Oman, we can take advantage of this change of exporting products.”

There are some countries that have voiced their readiness to purchase and import Iranian products but presently, the export of Iranian products to these countries is impossible due to the sanctions, he added.

Zarrabi pointed to the level of trade exchanges between Iran and Oman and said, “Trade volume exchanged between Iran and Oman in 2013 hit $221 million, the rate of which increased $1.161 billion in 2018, showing a considerable hike.”



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