Iran and Oman are expected to begin negotiations on signing a preferential trade agreement in the near future, according to the head of Iran’s Trade Promotion Organization (TPO).
Mehdi Zeighami made the remarks addressing an expert committee of the 20th Iran-Oman Joint Economic Cooperation Commission in Tehran on Tuesday.
Noting that the current level of trade ties between Iran and Oman is not proportionate with the goals and capacities of the two neighboring countries, the official expressed hope that Tehran and Muscat will witness a significant growth in bilateral trade.
Zeighami, who is also the deputy minister of industry, mine and trade, put Iran’s last year trade with Oman at $1.8 billion, adding that the figure is projected to grow this year.
Expert-level talks were held between Iranian and Omani delegations in Tehran on December 4-5 to discuss facilitating trade between the two countries. The 20th Iran-Oman Joint Economic Cooperation Commission is scheduled to be held in the Iranian capital on December 6-7.