Iran, Oman to boost oil cooperation
Baku, Azerbaijan, Jan. 8
By Umid Niayesh - Trend:
Iran and Oman to boost cooperation on oil sector, Iranian Industries, Mines and Trade Minister Mohammad Reza Nematzaeh said.
The two sides' cooperation in oil and banking sector will enter a new stage based on the new MoUs (Memorandum of Understanding) which was signed, Nematzadeh said, Iran's Mehr news agency reported Jan. 8.
Nematzadeh made the remarks at the end of the 15th Joint Economic Commission of Iran and Oman which was held in Muscat.
Nematzadeh and his Omani counterpart Ali bin Masoud al-Sunaidy signed two MoUs for cooperation in the oil, gas and petrochemical sectors as well as power, telecommunication infrastructures, banking and insurance, fisheries and tourism fields.
The Omani minister said that major part of the discussion in the 15th Joint Economic Commission was focused on ways that should be employed for boosting bilateral trade.
He added that Muscat aims to produce and export competitive goods to the region markets via joint ventures with the Islamic Republic.
Nematzadeh and al-Sunaidy inaugurated an Iranian products exhibition in Muscat on Jan. 6. The five-day exhibition aims to promote trade between Oman and the Islamic Republic.
The exhibition includes various products and industries such as food and its processing machineries, agricultural products and agricultural machinery, minerals, mining tools, medical supplies, laboratory equipment, oil, gas and petrochemical products, electrical products and construction materials as well as Iranian-made cars.
Oman was the twenty-first biggest importer of Iranian non-oil goods in the previous Iranian fiscal year, which ended on March 20, 2014, according to the Iran Customs Administration.
The Islamic Republic exported $145.8 million of non-oil goods to Oman and imported $441.7 million of non-oil goods from the country.
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