Mohammad Tutunchi said Islamic Republic of Iran intended to build an auto manufacturing plant in al-Duqm especial economic zone of Oman; additionally, firm steps will be taken towards reinvigoration of Iran-Oman relations in time with Irans large exhibition in Oman to run from January 23-27.
He further pointed to the 35% rise in trade turnover between Tehran and Muscat in the year 2016 saying the volume of bilateral trade turnover between the two parties currently stands at 1.35 billion dollars.
During the upcoming exhibition nearly 90 Iranian firms will showcase their products in various sectors like food and auto industries.
Iranian Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh is also scheduled to travel to Muscat in order to attend the event.
Meanwhile, Chairman of the Iran-Oman Joint Chamber of Commerce Mohsen Zarrabi has estimated that Iran's export to Oman will reach 600 million dollars by the end of the current Iranian calendar year (to end March 20).
One main reason behind the uplift in export volume of Iranian products to Oman has been launch of a direct shipping line between the two countries.
Iran and Oman have agreed to conduct joint venture in Chabahar Free Trade Zone, emphasized the official adding economic projects will receive at least 50 per cent of the required finance from Omani banks.
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