TEHRAN - Omani Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef, who has traveled to Iran on top of a senior business delegation, expressed his country’s interest in investment in Iran’s industry sector.

 

Yousef made the remarks on the sidelines of a visit to an industrial park near the capital Tehran on Saturday, accompanied by Head of Iran Small Industries and Industrial Parks Organization (ISIPO) Ali Rasoulian, IRNA reported.

During the tour, Rasoulian briefed the delegation about Iran’s industrial capabilities and capacities and said: “Considering the fact that 858 industrial parks and zones are active in the country, this area can lay the ground for promoting industrial relations between the two countries.”

According to the official more than 51,000 small and medium-sized enterprises (SMEs) are active in Iran’s industrial parks and zones, which has provided employment for more than one million people.

He stressed the need for connecting the two countries’ SMEs as another way of boosting economic relations between the two countries.

Further during the visit, the Omani minister and the accompanying delegation also welcomed the purchase of Iranian goods, including electrical and household appliances, electronic products, tiles and ceramics, medicine, etc.

Mohammad Al Youssef visited Tehran to attend the opening ceremony of the Export Potential Exhibition of the Islamic Republic of Iran (Iran EXPO 2023) and also a business forum at the place of Iran Chamber of Commerce and Industries, Mines and Agriculture (ICCIMA).

Back in November 2022, Oman’s Deputy Minister of Commerce, Industry, and Investment Saleh bin Said Masan announced that Iran and Oman are finalizing a mechanism for facilitating financial exchanges between the two countries.

Saleh bin Said Masan made the announcement in a meeting with ICCIMA Head Gholam-Hossein Shafeie.

The Omani deputy minister said the two countries, however, are still facing challenges in trade exchanges, adding that the central banks of both countries have offered different solutions to these challenges. 

Referring to a memorandum of understanding signed between the two countries on trade cooperation and customs facilities, the Omani minister said technical teams from both Iran and Oman are working to take the agreements into effect. 

Elsewhere in this meeting, Shafeie mentioned the huge capacities for the expansion of trade between Iran and Oman, saying: “We can export to other countries, especially the African countries, through Oman which would be in line with the interests of both sides”.

He also noted that the two countries can also work on making joint investments and cooperation on health tourism. 

Iran-Oman Joint Chamber of Commerce has taken good measures in cooperation with the Oman Chamber of Commerce and Industry (OCCI) to reopen bank accounts for Iranian traders who intend to make investments in Oman, Shafeie said, adding that it can highly improve trade cooperation between the two neighboring countries.

He said that the central banks of Iran and Oman have had negotiations for issuing credit cards for Iranian traders and businessmen.

The official expressed hope that the Omani government and the country’s chamber of commerce would help finalize these talks.

Further in the meeting, Chairman of Oman Chamber of Commerce and Industry (OCCI) Ridha bin Juma Al Saleh, said that the private sector has to do its part to inspire investors to use Oman’s open doors policy.

Noting that the two countries have found solutions to many of the obstacles on the way of bilateral trade, he referred to opening accounts for Iranian businesspersons in Oman for instance.

Head of Iran’s Trade Promotion Organization (TPO) Alireza Peyman-Pak, in a meeting with Saleh bin Said Masan, said that boosting trade with Oman is one of the business priorities of the Iranian government.

He considered Oman to be one of Iran’s five main trading partners among the country’s neighbors and added: “The continuation of the current trend will definitely increase exports to and imports from Oman.”

The TPO head also mentioned the presence of Iranian companies in Oman exhibitions and requested the presence of Omani companies and businessmen in Iran’s exhibitions.

Further in the meeting, Masan for his part called Iran a brotherly country and added: “In previous meetings we talked about how to solve trade problems between the two countries [and thanks to the recent developments] today we are discussing how to develop trade.”