BAKU, Azerbaijan, February 29. Iran is set to bolster its annual trade figures with Oman, aiming for a $4 billion target in the next Iranian year (March 20, 2024 through March 20, 2025), said Solat Mortazavi, Iran’s Minister of Cooperatives, Labour, and Social Welfare, Trend reports.
He made the remark during a meeting with Mahad bin Said bin Ali Baawain, Oman’s Minister of Labor, in Tehran on Feb. 29.
Mortazavi highlighted a significant 42 percent growth in trade between Iran and Oman in the previous Iranian year (March 21, 2022 through March 20, 2023).
It should be noted that last year, the trade turnover between Iran and Oman amounted to $1.8 billion.
Mortazavi added that both countries have a mutual desire to expand bilateral cooperation across various sectors, including social welfare, vocational training, and mining. These collaborative efforts are expected to further strengthen the ties between the two nations.
The Omani Minister of Labor echoed these sentiments, noting numerous opportunities for joint ventures and knowledge sharing that could benefit both countries.
Furthermore, Iran is preparing to engage in talks to sign a preferential trade agreement with Oman, a strategic move aimed at enhancing their trade relationship.
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