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Iran, Oman agree on PTA, joint investment: minister

Mehr | 8 May 2023

Iran, Oman agree on PTA, joint investment: minister

TEHRAN, May 08 (MNA) – The Iranian economy minister met with visiting Omani commerce minister in Tehran on Monday during which they announced their agreement on signing a PTA and joint investment agreement.

Iranian economy minister Ehsan Khandouzi held a meeting with Omani Minister of Commerce, Industry & Investment Promotion Qais bin Mohammad Al Yousef in Tehran on Monday during which the Iranian minister said "Over the past year, the economic relations between the Islamic Republic of Iran and the Sultanate of Oman were increasing in various spheres, and this was especially accelerated by the recent visit of the President of Iran to Oman and the warm welcome he received from the Omani side."

Khanouzi expressed his unhappiness with the low level of trade relations between the two sides and said that the trade relations do not match the high level of political ties.

Referring to the holding of several meetings between the investment delegations of Iran and Oman and the agreement on a draft text for joint investment, he expressed hope that the joint investment memorandum of understanding between the two sides would be signed during the first official event between the two countries.

In response to the Omani minister’s offer to sign a preferential trade agreement between the two countries, Khandouzi said, "We fully agree with that proposal and we will definitely support this issue in the cabinet meetings."

Khandouzi further said a higher level of the relationship between the two countries could take place if they go towards joint investments.

Qais bin Mohammad Al Yousef, for his part, pointed to his visit to Iran accompanied by a delegation of 200 Omani businessmen and the meetings they held with the Iranian side and their attendance at the 2023 Iran EXPO as signaling the Sultanate of Oman’s resolve to develop trade cooperation with Iran.

Saying that he was surprised with the high level of progress of Iranian manufacturers during his stay in Iran, the Omani minister described the signing of the joint investment agreement between the two countries as an important step in the development of economic cooperation between Iran and Oman.

Qais bin Mohammad Al Yousef further called for the cooperation of the Iranian economy ministry in signing a preferential trade agreement with his country in order to facilitate the trade relations between the two countries.

 source: Mehr