Iran, Oman trade to increase dramatically after Raeisi visit

TEHRAN, May 24 (MNA) – An Iranian economic official has said that the bilateral economic relations between Iran and Oman will increase fivefold in a five-year period after president Raeisi's state visit to Muscat on Monday.

Iranian Deputy Minister of Industry, Mine and Trade Alireza Peyman-Pak, who is the chairman of the Iran Trade Promotion Organization (TPO) on Monday announced the resolving of monetary, banking and transportation problems with Oman.

By resolving the aforementioned problems, in addition to enhancing trade and economic relations, a part of Iran’s economic activities with the United Arab Emirates (UAE) will be transferred to Omani ports, Peyman-Pak underlined.

With the consultation made, the two countries of Iran and Oman have achieved good results in transportation banking and monetary fields, the TPO added.

A number of 12 cooperation documents and Memoranda of Understanding (MoUs) were inked between Iran and Oman in the fields of energy, transport, industrial cooperation and trade during the visit of Iranian President Seyyed Ebrahim Raeisi to the Arab country on Monday.

The Director-General of Trade Promotion Organization of Iran (TPO)'s Office of Arabian and African Countries, for his part, said that trade and economic relations between Iran and Oman has increased quintuple.

It was agreed that trade and economic ties between Iran and Oman in two-year period will double and also will increase fivefold in a five-year period, Farzad Piltan, the TPO official added.

MA/5497593

News Code 187115

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