Iran’s trade with Oman stood at 2.61 million tons worth $1.02 billion in the current fiscal year’s first 10 months (March 21, 2021-Jan. 20), registering a 43% growth in terms of value year-on-year, according to Rouhollah Latifi, spokesman of the Islamic Republic of Iran Customs Administration.
Exports hit 1.75 million tons worth $563.67 million, registering a 20% and 73% YOY growth in weight and value respectively.
“Oman ranked among Iran's top 10 export destinations during the period, after China, Iraq, Turkey, the UAE, Afghanistan, India, Pakistan, Indonesia and Thailand,” Latifi was quoted as saying by IRNA.
Iran’s imports from Oman hit 856,898 tons worth $452.53 million during the same period, registering an 18% YOY growth in terms of value.
A total of 618,801 tons worth 245.45 million of the imports constituted agriculture and food products, accounting for 72% and 54% of the total imports’ weight and value respectively.
The Oman-Iran Joint Committee held in Muscat on Feb. 9 its 19th meeting to discuss areas of bilateral cooperation in economic, financial, investment, technical and industrial fields.
The Omani side was headed by Minister of Commerce, Industry and Investment Promotion Qais Mohammed Al Yousef and the Iranian side was headed by Minister of Industries, Mining and Trade Reza Fatemi-Amin, Times of Oman reported.
The two sides agreed on making more efforts for enhancing business relations and augmenting the volume of trade exchange between the two countries in the areas of technical, tourism and investment services.
They also discussed collaboration in the fields of industry, mining, finance, banking and free zones. They also called for completing the process of signing a memorandum of understanding for cooperation in the fields of agriculture, livestock, fisheries and exchange of research experiences.
They affirmed the importance of activating the agreement on maritime transportation cooperation and the MoU on the mutual recognition of maritime competency certifications between the two countries.
The two sides explored investment opportunities in the fields of ports and customs. They also discussed cooperation in oil, gas, petrochemicals, heritage, tourism, culture, sports and youth areas.
The two sides underscored the importance of activating cooperation between the Oman Chamber of Commerce and Industry and the Oman-Iran Joint Chamber to exchange business delegations and hold specialized exhibitions for supporting the private sector.
