BAKU, Azerbaijan, Feb. 8
Trend:
The head of the Iran-Oman Joint Chamber of Commerce suggested four important strategies for developing trade relations between the two countries, Trend reports via Fars News Agency.
"The volume of exchanges between the two countries increased by 5 times between 2014 to 2017, but in 2019, it decreased to $697 million,” head of Iran-Oman Joint Chamber, Mohsen Zarabi said.
He stated that the main reasons for the decrease in the level of trade relations between the two countries last year were related to the domestic directives in the field of trade, foreign exchange regulations and rules for returning the export earned foreign currency.
He outlined 4 important strategies in Iran-Oman trade relations and said that "increasing exports to Oman, re-exporting through Oman, importing through Oman are among the mentioned important strategies for Iran-Oman trade relations.”
"Oman was the only country that did not impede the export of Iranian goods during the outbreak of coronavirus," Zarabi said. "Rather, it tried to increase our exports."
He added that "mining is one of the opportunities for the development of trade relations between Iran and Oman.”
“It should be noted that in this field, we can focus more on the field of joint investment,” he said referring to mining sector of Oman.
According to Fars News Agency, the total volume of trade between Iran and Oman in the first nine months of the current Iranian year (started on March 21, 2020) was $593 million, of which $274 million were Iran's exports to Oman and $318 million were Oman's exports to Iran.