Economy, Domestic Economy

Oman’s Ithraa to Visit Iran to Develop Business Ties

Oman’s Ithraa to Visit Iran to Develop Business TiesOman’s Ithraa to Visit Iran to Develop Business Ties

Oman-based Ithraa, a leading inward investment export development agency, says its management team will travel to Iran to meet leading Iranian businesses operating in logistics, metals and healthcare sectors later this month.

Ithraa’s director general for investment promotion, Sayyid Faisal Al Said, will head the team and also hold trade and investment talks, reads a statement from the agency, Trade Arabia reported.

Al Said says: “Our visit to Tehran has been designed specifically to enhance dialogue between us and our Iranian counterparts, and to capitalize on the existing trade and investment ties our two countries enjoy.”

Iran is the second largest economy in the Middle East and North Africa region after Saudi Arabia, with an estimated gross domestic product of $393.7 billion in 2015, the statement notes.

It added that the country also has the second largest population of the region after Egypt, with an estimated 78.8 million people in 2015 and the Iranian economy is expected to grow by about 4% this year.

“The sultanate is open for business and the government is committed to supporting non-oil Omani export growth and encouraging inward investment. This is the message we will be delivering to colleagues in Tehran.

“Trade missions are invaluable in developing new and existing markets overseas for Omani businesses, and the objective of this visit is to build on the existing strong economic links Oman enjoys with Iran.

“The meet will serve to bolster productive trade and investment relations and reinforce the potential for Omani exporters in the fast growing Iranian economy, which will ultimately mean jobs in Oman,” Al Said concluded.