TEHRAN - 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, according to data from Iran’s Customs Administration.

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.

In an interview with IRNA in early February, Abdolamir Rabihavi, the director general for West Asia at Iran’s Trade Promotion Organization (TPO), highlighted negotiations in Muscat (at that time) between Iran’s Industry, Mining, and Trade Minister Mohammad Atabak and Omani officials, adding that Atabak led a delegation of government officials, traders, and private-sector manufacturers to Oman for the 21st Joint Economic Committee meeting.

He stated that the committee covered various trade and logistics issues, resulting in numerous agreements, many of which stemmed from a year of negotiations.

A key achievement of the meeting was the participation of private-sector representatives, coordinated by the Iran Chamber of Commerce and the Iran-Oman Joint Chamber of Commerce.

On the sidelines of the event, bilateral meetings were held with Omani counterparts, and Iranian representatives toured Omani industrial and investment units, gaining insights into Oman’s market and production landscape.

Discussions also addressed trade volume, customs and visa facilitation for businesses, maritime transit, leveraging Iran as a transit hub for Eurasian Economic Union exports to Oman, and ways to boost bilateral trade.

Rabihavi highlighted the signing of a cooperation agreement between Iran and Oman and noted that Atabak met separately with Oman’s transport minister, energy and mining minister, and the head of the Omani Investment Authority. The ministers then signed the joint committee’s agreements and minutes.

Additionally, negotiations on a preferential trade agreement were extended, with plans to finalize and sign the document soon. The agreement aims to lower tariffs and facilitate trade.

The joint committee meeting yielded significant achievements for Iran. If these agreements materialize, trade will grow. Oman has free trade agreements with several countries, including Persian Gulf Cooperation Council members, which Iran can leverage for re-exporting its goods,” he concluded.

The 21st meeting of the Iran-Oman Joint Economic Committee, which was held in Muscat on January 25, was described by the Iranian minister of industry, mining, and trade as distinct from the previous 20 gatherings, focused on three key agendas.

Mohammad Atabak has highlighted the signing of the MOU and elaborated on the meeting's agenda.

The first agenda item addressed the establishment of a preferential trade agreement and the elimination of tariffs between the two countries. Atabak stated that this initiative had been approved.

The second agenda item involved supporting joint investments between Iran and Oman. Atabak announced that both nations had reached an agreement on this issue.

The third agenda focused on necessary administrative and customs collaborations to facilitate trade. The minister noted that required planning and task allocation had been completed, and this initiative is expected to yield results shortly.

EF/MA