June 26, 2022

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Trade between Iran, Oman expected to reach $2b by March 2023

TEHRAN – Head of Iran-Oman Joint Chamber of Commerce said the trade between the two countries is expected to reach $2 billion by the end of the current Iranian calendar year (March 20, 2023), IRNA reported.

“Considering the upward trend of trade with this country [Oman], it is predicted that by the end of the year, we will record 1.2 billion exports and $2 billion of trade,” Mohsen Zarabi said in a board meeting of the mentioned chamber held at the place of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) on Wednesday.

Last year, the trade between the two countries reached $1.336 billion, indicating a growth of 57 percent compared to the preceding year, Zarabi said.

He said that in the first two months of the current Iranian calendar year (March 21-May 21), exports to Oman reached $283 million with a growth of 28 percent, noting that the figure in the import sector increased by 187 percent to $128 million dollars.

According to Zarabi, the trade between the two countries reached $331 million in the mentioned two months, registering a growth of 145 percent.

The official further noted that agreements have been reached to increase Iranian exports to the Arab country, saying: “One of the ways to increase trade is to introduce Iranian commodities to Omani traders and raise awareness; This is possible by sending trade delegations and holding exhibitions in this country.”

EF/MA

Original News : https://www.tehrantimes.com/news/473668/Trade-between-Iran-Oman-expected-to-reach-2b-by-March-2023

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