Iran’s trade volume with Oman dropped to $697m; Official
Head of the Iran-Oman Joint Chamber of Commerce Mohsen Zarrabi says talks are underway with Omani banks to open accounts for Iranian companies active in this sultanate.
Speaking to ILNA, Zarrabi said that infrastructures should be provided for economic activists in order that they could export their goods via Oman to other countries that do not accept Iranian goods from the original port and wat it with zero custom tariffs.
Speaking on his recent visit to Oman, he said the Iran-Oman Joint Chamber of Commerce as the parliament of the private sector is tasked to ease relations and provide infrastructures and condition for boosting economic relations, adding that of course, this will be possible simply by the assistance of governments and ambassadors of both countries.
"He has had several visits to Oman in recent years and had meetings with Omani officials but due to the outbreak of coronavirus, flights were canceled".
Zarrabi noted that since 2014 when the council of traders changed into the Iran-Oman Joint Chamber of Commerce, it has set a roadmap for economic relations of both countries and identified hurdles in way of these relations, and offered some suggestions to remove them.
He went on to say that from 2004 to 2014, the annual bilateral trade volume of Iran and Oman has been variable between $190m to $220m which has not been a considerable amount but fortunately, in 2019, the trade volume hit $1.161b which shows the figure has been five-folded.
"But last year due to the special condition of the country and new regulations of the Central Bank and forbidding exports, the trade volume of Iran with most countries like Oman declined and Iran’s trade volume with Oman dropped to $697m," he added.
He said Oman backs Iran’s exports to this sultanate and it lets Iran re-export from this country due to this country’s infrastructures in its free zones and its regulations, noting that Oman has free trade agreements with 16 Arab and African countries as well as the U.S. and four European countries.
Zarrabi went on to say that Iran and Oman can have good cooperation in the mining sector as Oman is rich in mining resources and Iran has become a pole in this sector in the region.
On banking problems in Oman, he said due to the sanctions and despite Oman’s efforts to provide good conditions for boosting bilateral economic relations, sanctions have had their own effects on the banking system in all countries but some countries have hostile attitudes and some are not so.
He also warned Iranian traders of middlemen who try to allure them with false promises of getting permanent citizenship or residency.
Zarrabi reiterated that some middlemen have unrealistic promotions for Oman and it makes a problem for Iranians and they may lose their capital because of those false propagations and promises.
END