finance & economy

Oman, Iran to boost maritime exchange

May 25, 2022

Muscat – The signing of a memorandum of understanding (MoU) between the ministries of transport of Oman and Iran has paved the way for the establishment of a joint shipping line as well as boosting air and maritime connectivity between the two countries.

A MoU, in the field of transport, was signed by H E Said bin Hamoud al Maawali, Minister of Transport, Communications and Information Technology, and Rostam Qasemi, Iranian Minister of Transport and Urban Development, on Monday.

During the meeting, the two sides discussed activating agreements in maritime affairs, connecting ports and boosting air traffic between the two countries. They also reviewed prospects of future development in trade between Oman and Iran.

Revealing details of the agreement, Qasemi was quoted by IRNA as saying that it includes the establishment of a joint shipping line and tourist flights between the two countries.

“The agreement on establishment of the Iran-Oman joint shipping line must be presented to the Parliament for ratification,” he said.

As per the agreement, maritime link will be strengthened between Iran’s Chabahar Port and Suwaiq Port in North Batinah. He added that the Islamic Republic of Iran Shipping Line Group too has gained permit to work with the ports in Salalah and Sohar.

Business meet

Iranian President Ebrahim Raisi held a meeting with Omani businessmen and their Iranian counterparts at Al Alam Palace on Monday.

President Raisi affirmed his country’s keenness on expanding relations with Oman in different fields. He encouraged businessmen from both sides to enter joint investments to help promote output and exports. He called for the establishment of an Iranian commercial representative office in Oman to provide information about investment opportunities and facilitate customs procedures.

Addressing the meeting, Redha Juma al Saleh, chairman of Oman Chamber of Commerce and Industry, affirmed that the existing cooperation, trade exchange and joint investments have been the outcome of strong relations between the governments of the two countries over the past few years.

Commercial exchange between the two countries stood at more than US$1.3bn last year, Saleh informed, adding that the total capital invested amounted to US$10.9bn, of which the Iranian side contributed US$3.6bn.

The meeting underlined the importance of facilitating business flow, including the entry of goods into both the countries.

The meeting was attended by H E Abdulsalam Mohammed al Murshidi, chairman of Oman Investment Authority, and H E Qais Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, besides H E Maawali.


Top News

finance & economy

More Than Infinity! VOOPOO Global New Pr...
June 24, 2022
Lootverse Has Announced Its In-World Soc...
June 24, 2022
Degreed Acquires Learn In to Extend Its ...
June 24, 2022