North-South Corridor golden opportunity for Oman to develop trade with Persian Gulf states

TEHRAN, Dec. 07 (MNA) – Iranian Industry Minister Reza Rahmani, on Saturday, said regarding the potential chances for cooperation between Iran and Oman on North-South Corridor, there is a golden opportunity for Oman to boost its trade with the Persian Gulf littoral states, as well as the Islamic Republic, through the corridor.

“Iran-Oman trade volume can increase up to five billion dollars from its current one billion dollars,” Rahmani said addressing the 18th Iran-Oman Joint Economic Committee meeting that kicked off in Tehran on Saturday.

He also hoped for further cooperation between the two sides’ private sectors in the future.

“Iran considers Oman not only as a trade partner but as an important player in regional issues,” he said, “We can move forward via cooperation with Oman to expand ties with our neighbors, Arab countries in the region and those in north Africa.”

The 18th Iran-Oman Joint Economic Committee meeting kicked off in Tehran Saturday morning with ministers of two sides in attendance.

Iranian Minister of Industry, Mine and Trade Reza Rahmani and Ali bin Masud Al Sunaidi, Minister of Commerce and Industry of Oman, took part at the meeting this morning.

According to the Head of Iran Trade Promotion Organization, Hamid Zadboum, documents on sports cooperation, standard cooperation and maritime shipping would be signed between the two sides at the meeting.

He added that trade, investment, industry, chambers of commerce, free zones, the environment, electricity and gas are some common areas of cooperation between Iran and Oman.

According to Head of Iran-Oman Joint Economic Committee, Iran's exports to Oman reached $728 million this year, while the two countries’ trade turnover hit $1.16 billion, indicating a 5.3 percent increase in trade between the two countries in about five years.

MNA/4790743

News Code 153112

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