Iran and the Sultanate of Oman are in talks over the establishment of preferential trade between the two neighboring countries, according to an official familiar with the matter.
Abdolamir Rabihavi, the director of West Asia Office of Iran’s Trade Promotion Organization (TPO), said that during the 20th meeting of Iran-Oman Joint Commission last year, the two countries agreed to put the establishment of preferential trade on their agenda.
Iran’s Ministry of Industry, Mine and Trade and Oman’s Ministry of Commerce, Industry and Investment were tasked with pursuing the case, according to the official.
In line with the agreements of last year’s joint commission, a special committee convened in Muscat three months ago and a second meeting of the committee is also expected on October 6-8, he said.
Noting that Oman is a main trade partner of Iran among its neighboring countries, Rabihavi said that the volume of trade between Iran and Oman has seen a 35% year-on-year increase in the five Iranian calendar months to late August. He did not elaborate.
He had earlier put Iran’s three-month exports to Oman from March 20 to June 20 at $392 million, marking a 40% increase compared to figures reported in last year’s corresponding period.