TEHRAN- An 85-member trade delegation from Iran's private sector departed for Oman on the eve of the visit of President Masoud Pezeshkian and Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Head Samad Hassanzadeh to the Arab country.

The delegates are active in the fields of technical and engineering services, food industries, mining, and knowledge-based, and artificial intelligence, petrochemicals, medical and pharmaceutical equipment, and tourism.

According to Jamal Razaghi Jahromi, head of the Iran-Oman Joint Chamber of Commerce, in addition to the Iran-Oman Business Opportunities Conference, which will be held on Wednesday with the presence of Masoud Pezeshkian,  and Sultan Haitham bin Tariq Al Said, King of Oman, and the heads of the Iran and Oman Chambers of Commerce, an investment conference and a face-to-face meeting of Iranian and Omani traders and businessmen will be held, as well as a meeting between the Omani Minister of Commerce and the head of the Iranian Chamber.

As announced by the Islamic Republic of Iran Customs Administration (IRICA), Iran’s exports to Oman increased in the previous Iranian year 1403 (March 2024–March 2025), while imports from the Arab country declined, boosting Tehran’s trade surplus with Muscat.

Iran recorded a trade surplus of $764 million with Oman in 1403, up from $570 million the previous year.

Exports to Oman reached around 6.0 million tons worth $1.548 billion, marking a 7.94 percent rise compared to the year before.

In contrast, imports from Oman dropped by 9.17 percent to 776,000 tons valued at $785 million.

Top imported goods from Oman included unrefined gold, animal feed corn, and sunflower seed oil. On the export side, Iran mainly shipped petroleum bitumen, iron and steel billets, and urea.

Oman accounted for 2.68 percent of Iran’s total exports and 1.08 percent of its total imports in the same period.

Iran exported non-oil commodities valued at $140 million to Oman in the first Iranian calendar month of Farvardin (March 21-April 21), according to data from the Islamic Republic of Iran Customs Administration (IRICA).

The IRICA data showed that Oman was Iran’s sixth top non-oil export destination in the mentioned month.

Iran’s Ambassador to Oman Mousa Farhang says the Arab country’s economic ecosystem is favorable for Iranian private sector companies, encouraging firms to begin with smaller-scale projects to establish a foothold in the Omani market.

During a visit to the Tehran Chamber of Commerce pavilion at the Oman Oil and Energy Exhibition on May 14, Farhang met with Iranian business representatives and company delegates, expressing optimism about Oman’s potential as a destination for Iranian private investment.

“The Omani market is open and welcoming, especially for private Iranian firms. It’s not necessary to start with large-scale projects; even small collaborations can lead to meaningful long-term partnerships,” Farhang said, according to a statement from the Tehran Chamber of Commerce.

Saeed Tajik, head of the Tehran Chamber’s delegation to the exhibition, highlighted the chamber’s commitment to supporting exporters and attracting foreign investment. He urged Iran’s embassy in Oman to continue facilitating private sector engagement.

Tajik emphasized Iran’s competitive advantages in oil and gas, engineering services, food industries, and agriculture, suggesting these sectors are well-suited for sustainable and competitive activities in Oman.

At the end of the visit, Ambassador Farhang invited the Tehran Chamber delegation to continue discussions at the Iranian embassy in Muscat.

In a related development, Saeed Tajik—who also chairs the Tehran Chamber’s Energy and Environment Committee—visited various booths at the exhibition and met with officials from Oman’s Ministry of Energy and Minerals.

During these talks, both sides agreed to exchange lists of active companies in the energy and mining sectors and discussed mutual recognition of qualified Iranian firms by the Omani ministry to facilitate joint ventures and economic cooperation.

The two parties agreed to formalize their partnership by signing a memorandum of understanding (MOU) between the Ministry of Energy and Minerals of Oman and the Tehran Chamber of Commerce in the near future.

MA