Economy, Domestic Economy

New Iran-Oman Shipping Route to Help Boost Bilateral Trade

New Iran-Oman Shipping Route to Help Boost Bilateral Trade
New Iran-Oman Shipping Route to Help Boost Bilateral Trade

The new shipping route launched between Iran’s Khorramshahr Port and Oman’s Sohar Port on Saturday is expected to increase bilateral trade to $5 billion in the next four years, the chairman of Iran-Oman Chamber of Commerce said.

Mohsen Zarrabi added that trade between the two countries rose from $148 million in the fiscal 2013-14 to $540 million last year (2016-17).

The official noted that the opening of two other shipping routes, namely Chabahar-Sohar and Bushehr-Sohar, is also on the agenda of the joint chamber, Mehr News Agency reported.

Sohar Port is a deep-sea port located in Sohar, the capital and largest city of Al Batinah North Governorate midway between Dubai and Muscat.

According to Gholamreza Shariati, the provincial governor of Khuzestan (where Khorramshahr Port is located), shipping routes from the Iranian port to Qatar and Kuwait will be launched soon to improve the export infrastructures of the southern province.

Abbas Abdolkhani, Iran’s commercial attaché to Oman, said Iran exported close to 1.3 million tons of goods worth $374 million to Oman during the eight months to Nov. 21.

The main exported products include iron and steel, tar, copper cathode, petrochemicals, foodstuff, fruit and vegetable and construction material.

“Iran exported its first wheat consignment of 29,630 tons to Oman in June. The shipment was part of the 2 million tons of surplus wheat produced last year,” Mohammad Reza Zarei, the head of Food Bulk Carriage Affairs Office at the Bulk and General Cargo Carriage Company affiliated to the Islamic Republic of Iran Shipping Lines, told Financial Tribune.

After the first shipment, Zarei noted that plans are underway to do the same in Turkey and European countries.

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