Iran, Oman vow to remove trade tariffs, boost customs cooperation in a bid to widen mutual trade

The Islamic Republic of Iran and Oman agreed to eliminate trade tariffs as part of attempts to further expand bilateral economic relationship.

News ID: 5852

Date: 24 January 2025 - 18:31

TABNAK, Jan 24: During the 21st session of Iran-Oman Joint Economic Cooperation Commission in Muscat on Friday, the two sides signed a joint economic memorandum of understanding in the field of preferential trade and customs cooperation.

“Three specific agendas were raised during the meeting; the first of which was negotiation over preferential trade and the elimination of tariffs between the two countries. The issue was agreed upon and will take effect as of next week,” Iranian Minister of Industry, Mines and Trade Mohammad Atabak said.

He added that prominent investment opportunities were also highlighted, and an agreement was also inked on the enhancement of trade and investment cooperation between the two sides.

“The third agenda was the necessary customs and administrative cooperation between the two sides to facilitate trade. Relevant necessary planning has been done, and the matter will be concluded in the near future,” Atabak pointed out.

Commenting on various meetings with Omani officials, Atabak stated that the establishment of a shipping line between the southern Iranian port city of Bandar Abbas and Oman, an increase in the number of flights, and stronger bilateral maritime collaboration were discussed in the meeting with Omani Minister of Transport, Communications and Information Technology, Saeed bin Hamoud bin Saeed al-Maawali.

Separate meetings with Oman's Minister of Commerce, Industry, And Investment Promotion, Qais Mohammed al-Yousef, and Minister of Energy and Minerals, Salim Nasser al-Aufi, were among other developments on the 21st session of Iran-Oman Joint Economic Cooperation Commission.

Oman has long been an interlocutor in interactions between the West and Iran. The country has mediated the release of several foreign citizens and dual nationals.