Economy, Business And Markets

Omani Confab to Promote Trade Ties With Iran

Omani Confab to Promote Trade Ties With Iran Omani Confab to Promote Trade Ties With Iran

Investment opportunities in Iran and the strategic importance of Oman in facilitating investment in the country from Asian countries after the lifting of sanctions will be the focus of an economic conference planned on March 23-24, 2016, in Muscat.

The conference dubbed “Oman Economic Forum” is being organized by Oman’s Ministry of Commerce and Industry in cooperation with the Al IktissadWal-Aamal group, Muscat-based newspaper Times of Oman reported.

Addressing a press conference, Mohsin bin Khamis Al Balushi, advisor to the ministry, said Oman is seeking to strengthen its non-oil exports to Iran.

“We have a commercial office in Bandar Abbas. We have plans to develop Oman’s exports to the Iranian market. We expect that this office will play a vital role (in strengthening exports) after sanctions are lifted,” added Balushi.

The forthcoming conference, he said, will help Arab and other Asian countries meet their Iranian counterparts for discussing investment opportunities.

Balushi noted that both Oman and Iran are in the process of identifying areas of cooperation, mainly in developing projects and exports.

Oman and Iran have two joint committees—one for the private sector and another for the government sector—for promoting economic cooperation. These joint committees will help identify areas of trade cooperation.