Iran, Oman confer on forming roadmap to expand trade ties

May 21, 2022 - 13:47

TEHRAN – Head of Iran Trade Promotion Organization (TPO) Alireza Peyman-Pak and Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef met on Saturday to discuss ways of expanding economic ties between the two countries.

During the meeting, the officials agreed on creating a roadmap for the expansion of trade relations and also discussed the establishment of an Iranian trade center in Muscat, the TPO portal reported.

Speaking in this meeting, Peyman-Pak voiced the readiness of his organization and the Iranian Ministry of Industry, Mining, and Trade for providing the necessary infrastructure for expanding trade exchanges between the two countries.

Referring to the recent visit of an Iranian delegation to Oman for attending a business forum hosted by Muscat Chamber of Commerce, and also holding Iran’s pavilion at Oman’s International Construction Technology, Infrastructure and Building Materials Exhibition (Project Oman 2022), Peyman-Pak proposed that a joint committee would be formed at the deputy level to pursue the development of mutual economic and trade relations.

He also proposed signing a roadmap for trade cooperation between Iran and Oman, which was welcomed by the Omani minister.

Mentioning some of the challenges in the way of developing economic cooperation between Tehran and Muscat, Peyman-Pak said that talks were underway between the ministries and private institutions of the two countries to resolve the problems related to transportation and banking relations.

Yousef for his part referred to the upcoming visit of President Ebrahim Raisi to Oman and considered this visit as an opportunity for developing economic and trade relations between the two countries.

He expressed hope that during the visit of President Raisi to Oman new agreements will be signed to pave the way for the development of economic relations between the two neighbors.

Alireza Peyman-Pak, who is also a deputy industry minister, led a 30-member trade-marketing delegation to Muscat on Monday, as President Raisi is due to visit the Arab country in the near future.

The head of the Export Guarantee Fund of Iran (EGFI) and the deputy head of the Iranian Ports and Maritime Organization (PMO) also accompanied Peyman-Pak on this trip.

During his visit to Oman earlier this week, Peyman-Pak attended a business forum in which opportunities and challenges for expanding trade between Iran and the Sultanate were explored.

The event was attended by senior officials from the two sides, including Peyman-Pak and Chairman of Oman Chamber of Commerce and Industry (OCCI) Readh Juma Mohammed Ali Al Saleh, as well as the representatives of the two countries' private sectors.

Speaking in this meeting, Peyman-Pak referred to the strategic position of Iran and Oman in the region and noted that the two countries can use their geopolitical capacities to expand their economic ties especially through transiting goods.

The official also mentioned Oman’s free trade agreements with other countries and the region’s $1.5 trillion trade capacity, saying that the two countries should take necessary measures to increase their share in the regional market by developing trade infrastructure and activating the North-South corridor.

The OCCI chairman for his part referred to the recent increase in trade between the two countries, saying "Despite the banking and transportation problems, with the efforts of both sides, trade relations between Iran and Oman will continue to improve."


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