Economy, Business And Markets

Shipping Efficiency Crucial to Trade With Oman

Shipping Efficiency Crucial to Trade With Oman Shipping Efficiency Crucial to Trade With Oman

Omani and Iranian businesses say trade and investments between the two countries will improve subject to efficient and responsive shipping.

A group of 20 officials and businessmen from the South Batinah branch of Oman Chamber of Commerce and Industry (OCCI) recently visited the Iranian province of Isfahan. This was the third OCCI delegation to visit Iran recently, the Muscat Daily reported without mentioning the exact date of the visit.

An OCCI report on the trip quoted Iranian businessmen as calling for expanding shipping services from Musandam to Bandar Abbas in Iran.

It quoted Hamoud al Saadi, chairman of OCCI South Batinah’s board of directors, as identifying the “lack of organized shipping” and high cost as challenges to investments.

Oman’s National Ferries Company last month launched a service from Khasab in Musandam to Qeshm Island in Iran. In February, a shipping line from Sohar to Shahid Rajaee was also launched, operated by the Iranian company Khedri Jahan Darya.

Saadi also referred to issues related to money transfers, although sanctions on Iran have recently been lifted.

Businessmen are hoping to increase bilateral investments and Iranian manufacturing exports to the Persian Gulf Arab state.

The report said Saadi invited Iranian companies to invest in Duqm. Officials discussed joint opportunities in the fields of cement, pipes and ceramics.

During the trip, the delegation visited steel, ceramics and automotive factories. They also visited an Iranian investment center and the Isfahan Chamber of Commerce, Industries, Mines and Agriculture.

Speaking to Muscat Daily, Khalfan al Bahri, director, OCCI South Batinah, said the improving political situation between Iran and world powers represents an opportunity. “Iran is a big market and we expect to enhance trade between the two countries.”

The OCCI delegation represented companies from wilayats such as Rustaq, Barka, Wadi al Ma’awel and Musannah.