Baku, Azerbaijan, May 25
By Fatih Karimov - Trend:
Omani banks will provide Iranian investors in the country with loans worth 70 percent of each project, Mohsen Zarrabi, the head of the Iran-Oman joint Chamber of Commerce, said.
Oman has established a free trade zone in its Sohar port, where Iranian investors can carry out various projects, Zarrabi said, Fars news agency reported May 25.
The Omani administration offers special deals for foreign investors who plan to launch projects in the zone, in order to export the manufactured production to third countries, he added.
He further said that Omani ports would be a better alternative for Iran trade than Dubai and the other ports of the United Arab Emirates.
For instance, Zarrabi said, Brazilian food, which was already imported into Iran via the UAE ports, henceforth will be imported through Oman's Sohar port with less costs.
Iran-Oman trade turnover currently stands at $1 billion per year, Zarrabi said, adding the two countries have the capacity to increase the figure to $5 billion.