Iran, Oman Review Areas of Trade, Economic Cooperation

Oman’s Minister of Commerce, Industry and Investment Promotion Qais Mohammed Al Yousef received Iran’s Minister of Industries, Mining and Trade Reza Fatemi-Amin in Muscat on Tuesday.
The two sides highlighted economic projects that are ready for investment. It also reviewed areas of trade and economic cooperation of common interest, Times of Oman reported.
The meeting also explored ways of boosting trade exchange to increase the entry of goods and services between the two countries.
The Oman-Iran Business Forum, organized by Oman Chamber of Commerce and Industry, discussed investment opportunities and incentives provided by the Sultanate of Oman to investors as part of OCCI’s media initiative.
The forum convened on the sidelines of the Iranian trade delegation’s visit with the participation of Mohsen Zarrabi, chairman of Oman-Iran Chamber of Commerce.
Ridha Jumaa Al Saleh, chairman of OCCI, said commercial exchanges between Oman and Iran by the end of June 2020 stood at $306,043,454. The figure comprises Omani exports worth $175,207,219 and Iranian imports of $130,836,260.
He described the opportunities made available by Oman Vision 2040 as promising and capable of opening vistas for firms operating in the sectors of industry, mining, food security and health. 
Zarrabi laid emphasis on the importance of promoting economic ties and augmenting the volume of commercial exchange to serve the interests of the two countries.
He added that such meetings assume significance for creating understanding among companies of both sides.
The forum saw the screening of visual displays, notably about the industrial estates in Sohar, Salalah, Al Mazyouna and the Special Economic Zone in Duqm, as well as the advantages offered by the strategic location of each estate. The two sides mulled the conclusion of pacts and partnerships to help expand bilateral cooperation.