Iran exported a total of $331 million worth of goods to its southern neighbor Oman during the first three months of the current Iranian year (March 21-June 21), registering a 169% rise compared with the similar period of last year, according to Chairman of Iran-Oman Chamber of Commerce Mohsen Zarrabi.
Bilateral trade stood at $1.33 billion in the fiscal 2021-22, which Zarrabi expects to reach $2 billion this year, IRIB News reported.
Last year’s exports stood at $716 million while imports reached $619.5 million.
According to Zarrabi, the joint chamber was founded in the fiscal 2013-14, when bilateral trade stood at $221 million. He stresses that Oman is an ideal venue from where Iran can reexport its products.
“Due to the location of Omani ports and the fact that the country is free from any sanctions, we can export our products to this Persian Gulf littoral state for reexporting them to European and North American countries. Oman has free trade agreements in place with 16 Arab and African countries, four European countries, namely Switzerland, Norway, Sweden and Liechtenstein, as well as with the US and Singapore, which can be of great help to Iranian exports,” he said.
Iran's President Ebrahim Raisi visited Oman in May and the two countries signed a string of trade deals, as international talks on the revival of Tehran's nuclear program and lifting of sanctions hang in the balance, AFP reported.
Raisi, on his second Persian Gulf visit since taking office in August, was greeted by Sultan Haitham bin Tareq at the airport and received a 21-gun salute at the royal palace, an Omani statement said.
Raisi's one-day trip came at a time when renewed talks on restoring a 2015 nuclear deal are at a stalemate. Oman played a mediating role between Tehran and Washington in the buildup to the original agreement.
The countries signed eight memoranda of understanding during the visit, including in the fields of oil and gas, transport, education, trade and investment, the official Oman News Agency reported.
"Trade exchanges between the two countries of Oman and Iran will improve definitely," Raisi said before departure, according to Iran's state news agency IRNA.
"Both countries are determined to upgrade the level of political and economic ties," he added.
A delegation of 50 Iranian businessmen travelled to Oman in June, as Iran's minister for roads and urban development announced plans for a joint shipping line and tourist flights.
Oman is also seeking to import gas from Iran by building an offshore pipeline between the two countries, which are also discussing the development of joint gas fields offshore.
The sultanate, which faces Iran across the Sea of Oman, endured economic pain during the pandemic, with its GDP dropping 6.4% in 2020 and government debt soaring. It saw rare protests over high unemployment and layoffs last year.
Two Iranian airlines, namely the flag carrier IranAir and Karun, have received permits from the Oman Civil Aviation Authority to launch direct flights to the sultanate.
The new flights will have Tehran and Shiraz as their departure and the Omani capital Muscat as destination, IRNA reported.
Until now, Qatar Airways and Turkish Airlines operated passenger flights between Iran and Oman.
It’s been 18 years since any Iranian airline operated flights to Oman.
Now IranAir and Karun are scheduled to resume the flights soon.
Oman facilitated Iranians’ travel to the sultanate in December by relaxing entry conditions for stays of up to 14 days. It has also reduced visa fees for travelers from more than 100 countries, including Iran, the United States, the UK, Australia, China and India.
Oman Airlines has been operating two flights a week, one flight to Tehran and one flight to Shiraz since January 21.
