Iran, Oman to Expand Trade Ties: Official

Muscat’s decision to decrease the fees of company registration for foreign investors paves the way for expansion of trade exchanges between Iran and Oman, an Iranian official said.
Shahla Amouri, the deputy head of the Iran-Oman Joint Chamber of Commerce, told IRNA on Monday that reduction of registration fees for foreign trade companies in Oman has become operational since the onset of April. Given the fact that Muscat has decided to decrease the fees in order to improve trade exchanges with other countries, the Iranian economic operators can take advantage of the opportunity to boost trade ties with the Arab country, she argued. The official went on to say that Iran's exports to Oman increased nearly by 100%, noting that the trade between the two Persian Gulf littoral states mounted from around US$600 million to US$1.2 billion last year.

According to Amouri, the total trade exchanges between the two countries reached US$2 billion  in that year. Touching upon Tehran-Muscat appropriate political ties, she said that the proper relationship is expected to affect the current trade exchanges, so the Iran-Oman Joint Chamber of Commerce is planning to reach the objective. Oman is considered one of the five major trade partners of Iran in the region. The Iran-Oman Joint Chamber of Commerce pursues the development of ports, shipping lines, customs offices, and barter of goods as well as a trade roadmap between the two countries. - IRNA