Why It Matters:
The meeting focused on increasing trade volume, establishing customs and visa facilities for traders, enhancing maritime transit, utilizing the Iran Corridor for Eurasian Economic Union products to reach Omani markets, and showcasing the capabilities of both countries to boost trade.
The Big Picture:
Trade and economic ties between the Sultanate of Oman and the Islamic Republic of Iran have burgeoned in recent years as both countries leverage their geographical proximity, historical ties and strong neighborly relations to boost commerce to support the diversification of their economies. Of late, these ties have expanded in scope to include shipping and logistics, multimodal transportation, energy cooperation, tourism and people movement as well.
Iran’s export to Oman increased by 35 percent in the first five months of the current Iranian calendar year (March 20-August 21), as compared to the same period of time in the past year, according to an official with Iran’s Trade Promotion Organization (TPO).
Key Points:
- Increasing trade and commerce between the two countries.
- Establishing customs and visa facilities for traders and merchants.
- Enhancing maritime transit.
- Using the Iran Corridor as a hub for transporting Eurasian Economic Union products to Omani markets.
- Showcasing the capabilities of both countries to boost trade.
What They Are Saying:
Iran's Industry, Mining, and Trade Minister Mohammad Atabak and the Minister of Transport and Communications of Oman stressed facilitating the transportation of goods and passengers and exchanges between merchants and traders of the two countries within the framework of expanding economic and trade cooperation.
Go Deeper:
Kazem Gharibabadi Visits Oman to Strengthen Bilateral Ties
219
