Iran and Oman traded $647 million worth of goods during the first four months of the current Iranian year (March 21-July 22) to register an 83% year-on-year growth, according to the head of Iran-Oman Chamber of Commerce.
Iran’s exports stood at $415 million, registering a 134% growth.
“Bilateral trade is expected to exceed $2 billion by the end of the current [fiscal] year [in March 2023], of which Iran’s exports are estimated to stand at $1.2 billion,” Mohsen Zarrabi was also quoted as saying by IRNA.
Trade with Oman in the fiscal 2013-14 stood at $221 million, which grew to $1.34 billion in the fiscal 2021-22.
Iran’s exports to Oman increased to $716 million in the fiscal 2021-22 from $146 million in the fiscal 2013-14.
Oman’s total imports in the fiscal 2021-22 stood at $31 billion, of which 2.3% were imported from Iran.
Iran’s imports from Oman stood at $620 million in the fiscal 2021-22.
Zarrabi says Oman is an ideal platform from which Iran can reexport 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 them to be reexported 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,”