Iran, Oman trade value to rise to $2bn by year-end: official

The Chairman of Iran-Oman Joint Chamber of Commerce said that trade volume exchange between Iran and Sultanate of Oman will rise to $2 billion before the end of this year of 1401 (ending on March 20, 2023).

Given the considerable hike of trade with Oman, it is predicted that Iran will export $1.2 billion worth of products to the Sultanate of Oman by year-end, Mohsen Zarrabi said, adding that it is also anticipated that the trade value exchange between the two countries would hit $2 billion.

Zarrabi put the volume of trade exchanged between the two countries last year in 1400 (from March 21, 2021, to March 20, 2022) at $1.336 billion, showing a 57% growth as compared to the same period of last year.

Elsewhere in his remarks, the Iranian economic official said that Iran’s export of products to Oman in the first two months of the current year (from March 21 to May 22) hit $203 million, showing a 28% growth as compared to the same period last year.

Presence of Iranian companies in Oman can help boost trade ties with this country, Zarrabi said, adding that a trade and economic delegation of the country visited Oman in the current year (started March 21, 2022) in line with bolstering ties in the fields of trade and economy.

During the meeting, Omani Ambassador to Iran expressed his satisfaction with the trend of bilateral trade and described it as ‘hopeful and promising’.

Effective steps have been taken in line with resolving barriers ahead of doing trade with Iranian businesspersons, Ibrahim bin Ahmad bin Mohammad Al-Moeini added.

News Code 193934


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