Iran-Oman trade to increase to $3bn in near future: official

Speaking at the Iran-Oman trade conference on Monday, Gholamhossein Shafei said that the upward trend of commercial relations between Iran and the Sultanate of Oman indicates the development of bilateral relations.

He states that as statistics show, the volume of trade between the two countries during the last year in the Iranian calendar (March 21, 2022-2023) as compared to the year before increased by 41%.

Last year the volume of Iran’s exports to Oman grew by 51% and imports by 29%, he added.

The continuation of this trend indicates that the two sides aim to increase the trade level to $3 billion in the short term, he said.

Shafei stressed the need to pay attention to the role of transit and private sectors of both nations in increasing their bilateral trade, adding that the ports and free economic zones also play a significant role in that regard.

“Certainly, an increase in the exchange of visits by specialized business and investment delegations between the two countries will lead to the development of trade relations between the private sectors of Iran and Oman,” the Iranian economic official further noted.

He also pointed to medical tourism as another field for cooperation between Iran and Oman, calling on the Iranian authorities to speed up their efforts to remove the existing barriers in that regard.

Also, in the field of energy, the construction of wind and solar power plants and water and sewage facilities are some of the new fields for cooperation, Shafei noted.

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