The 17th edition of Oman-Iran Economic Commission is scheduled to be held on June 27 and 28 in Muscat, Oman’s port capital.
A preferential trade agreement between the two countries, proposed by the chairman of Oman Chamber of Commerce and Industry Qais Mohammed Al Yusuf, will be the main topic of discussion during the two-day event, IRNA reported.
According to Iran’s Embassy in Oman, as many as 25 trade delegations from the private sector were exchanged between the commerce chambers of the two countries in the last fiscal year (March 2017-18).
Iran traded $736.63 million worth of non-oil goods with Oman during the last Iranian year (ended March 20, 2018), marking a 13.63% rise compared to the year before to make the Arab country Iran’s 22nd biggest trading partner.
As per the Islamic Republic of Iran Customs Administration’s data, Iran exported 1.74 million tons of commodities worth $520.71 million to Oman last year, posting a 24.46% growth and a 4.28% decline in tonnage and value respectively year-on-year.
The exports mainly included direct reduced iron, semi-finished metal, steel products, low-density oils and related products.
Oman exported 256,936 tons of goods worth $215.92 million to Iran during the period, up 186% and 107.06% in tonnage and value respectively YOY.
Iran mainly imported benzene, pharmaceutical supplements and vehicles from Oman last year.
