Iran’s Q1 Exports to Oman nearly tripled YOY

Iran exported a total of $331 million worth of goods to its southern neighbor Oman during the first three months of the current Iranian year (March 21-June 21), registering a 169% rise compared with the similar period of last year, according to Chairman of Iran-Oman Chamber of Commerce Mohsen Zarrabi.

2 August 2022
ID : 33921
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Iran exported a total of $331 million worth of goods to its southern neighbor Oman during the first three months of the current Iranian year (March 21-June 21), registering a 169% rise compared with the similar period of last year, according to Chairman of Iran-Oman Chamber of Commerce Mohsen Zarrabi.

Bilateral trade stood at $1.33 billion in the fiscal 2021-22, which Zarrabi expects to reach $2 billion this year, IRIB News reported.

Last year’s exports stood at $716 million while imports reached $619.5 million.

According to Zarrabi, the joint chamber of commerce was founded in the fiscal 2013-14, when bilateral trade stood at $221 million. He stresses that Oman is an ideal venue from where Iran can re-export its products.

“Due to the location of Omani ports and the fact that the country is free from any sanctions, we can export our products to this Persian Gulf littoral state for re-exporting them to European and North American countries. Oman has free trade agreements in place with 16 Arab and African countries, four European countries, namely Switzerland, Norway, Sweden and Liechtenstein, as well as with the US and Singapore, which can be of great help to Iranian exports,” he said.

Head of Iran-Oman Joint Chamber of Commerce Mohsen Zarrabi (R), Head of Trade Promotion Organization of Iran (TPO) Alireza Peimanpak (C) and the Managing-Director of Iran Small Industries and Industrial Parks Organization (ISIPO) Ali Rasoulian sign a trilateral MoU on boosting Iran’s trade with Oman in Tehran, Iran July 31, 2022.

In a bid to give a boost to Iran’s non-oil exports to Oman and enhancement of trade exchanges between the two countries, Zarrabi signed a trilateral MoU on Sunday with Head of Trade Promotion Organization of Iran (TPO) Alireza Peimanpak and the Managing-Director of Iran Small Industries and Industrial Parks Organization (ISIPO) Ali Rasoulian.

The main goal of this document is to facilitate the participation of the country's manufacturers and production units located in industrial parks in Oman’s specialized exhibitions and to increase the presence of Iranian products in the Omani market.

Under the terms of the MoU, the parties will collaborate to provide capable domestic producers located in industrial parks with special incentives and supports such as subsidies.

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