Dec 08, 2019 17:08 Asia/Tehran [Updated: Dec 09, 2019 11:11 Asia/Tehran]
  • Joint Commission on Cooperation of Iran and Oman by the Industry ministers of the two countries Reza Rahmani and Ali bin Masoud al-Sunaidi
    Joint Commission on Cooperation of Iran and Oman by the Industry ministers of the two countries Reza Rahmani and Ali bin Masoud al-Sunaidi

Tehran and Muscat can take great steps for the mutual benefit of the two countries, which is in the interest of all the Persian Gulf countries in the region.

Iran Press/Iran news: In Tehran on Saturday, Iran and Oman signed three memorandums of understanding on standards, sports, and marine transportation.

The MoUs were signed in the 18th summit of the Joint Commission on Cooperation of Iran and Oman by the Industry ministers of the two countries Reza Rahmani and Ali bin Masoud al-Sunaidi.

Holding such a summit confirms the idea that the two neighboring countries can make the most of their ties due to the geographical connection in the Hurmuz Strip and the geopolitical as well as the geostrategic significance of the region, Iran Press reported.

A north-south corridor was a pivotal part of the cooperation, a potential that could boost the trade exchange between the two countries up to $5 billion, as Rahmani said, and provides Oman with access to the countries of the Caspian Sea region to meet its needs.  

Having vast marine borders in the Persian Gulf and Oman Sea, Iran is the only country that has the best route to those north countries without sea; furthermore, Oman is also the closest southern neighbor to Iran in the Persian Gulf waters, with common cultural and religious roots with Iran.

In terms of industry, Oman's markets seem to be potential and tendency to attracting steel products, so it could be an opportunity for Iran's steel industry due to the long-run plans of construction in Oman.

To mention, it could be referred to as the Iranian exhibition of the construction industry held last March in Oman which was welcomed by the Arab country.

The Islamic Republic of Iran welcomes Omani investors in the Chabahar and 'Jask Free Zone' as well as various economic sectors, especially in transit.

The head of the Central Bank of Iran (CBI) Abdul Nasser Hemmati also met with Oman's Minister of Commerce and Industry discussed supporting the traders of the two countries to facilitate resource transfers, banking, money transaction mechanisms.

This level of negotiation shows that through diversified capacities such as shipping, tourism, and joint port investments, Tehran and Muscat can take great steps for the mutual benefit of the two countries, which is in the interest of all countries in the Persian Gulf region. It is while the Omani political authorities have always been one of the consultation parties of Iran over the regional issues.

Therefore, in the same context, there have been constant delegation exchanges between Iran and Oman. Economic cooperation between the two countries is also expected to deepen more.205/201

Read More:

Joint Iran-Oman Economic Cooperation Commission held

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