Iran, Oman set $20 billion trade target

TABNAK, Jun. 02 - During President Pezeshkian’s visit to Muscat, Iranian and Omani officials reviewed bilateral trade potential and pledged to boost investment with the participation of the private sector.

News ID: 6479

Date: 02 June 2025 - 09:44

Head of the Iran-Oman Joint Chamber of Commerce, Jamal Razaghi Jahromi, has described President Masoud Pezeshkian’s visit to Muscat as a pivotal moment in strengthening trade relations.

In an interview with IRNA on Sunday, Razaghi Jahromi emphasized that setting a $20 million annual bilateral trade volume was a major achievement and a key outcome of Pezeshkian’s recent trip to Oman, accompanied by a delegation of 90 private-sector entrepreneurs.

He noted that the first day of the president’s visit to Muscat featured a joint investment conference attended by the Omani Minister of Commerce, Industry, and Investment Promotion, as well as meetings between Iranian and Omani business representatives.

According to Razaghi Jahromi, Pezeshkian, along with his ministers and the Governor of the Central Bank, also held a separate meeting with top Omani officials to discuss various issues and challenges.

Referring to the long-standing ties between Iran and Oman, the official expressed strong dissatisfaction with the current state of bilateral trade. “The volume of trade between Iran and Oman is equivalent to just one-eighth of Iran’s trade with some Persian Gulf countries,” he said.

Nonetheless, he highlighted key agreements made between the two sides, including the establishment of a joint financial institution in Oman to resolve money transfer issues and facilitate banking transactions.

He also pointed to additional measures aimed at boosting trade, such as the launch of a direct shipping line between Chabahar and Oman and the reduction of trade tariffs.

During his stay in Muscat, President Pezeshkian signed 18 cooperation documents and held discussions with senior Omani officials, including Sultan Haitham bin Tariq Al Said, Deputy Prime Minister for the Council of Ministers Fahd bin Mahmoud Al Said, and Foreign Minister Badr bin Hamad Al Busaidi.