Iran sees increase in exports to Oman

Business 20 January 2022 09:51 (UTC +04:00)
Iran sees increase in exports to Oman

TEHRAN, Iran, Jan. 20


Iran's export to Oman has increased 34 percent in the past two months, the head of Iran - Oman Joint Chamber of Commerce told Trend in an interview.

Iran's export to Oman in the first nine months of the current Iranian year (started March 21, 2021) was $441 million, while the export in last year (started March 20, 2020) was $438 million, Mohsen Zarrabi noted.

Iran and Oman's total trade in this period was $850 million. The trade between the two countries is predicted to reach $1 billion by the end of the current year.

The export during the first seven months of the year was $327 million while it has improved by 34 percent in the past two months to $441 million.

The trade between Iran and Oman reduced in 2019 following the export ban policy, however, import and export regulations softened in 2020, and eventually, the private sector and exporters resumed trade in 2021.

Iran Virtual Expo on September 20-26 increased communication between the two countries, and 4,500 Omanis have visited the exhibition.

"Omani companies have become more aware of Iranian companies which led to an increase in trade. The change in the official foreign exchange rate could have a considerable effect on Iran's trade with other countries," he noted.

Iran's major export to Oman during this period was food items, construction material, steel, and metal artifacts. Iran has imported $409 million goods from Oman.