The Iran Project

Iran reports five-fold increase in exports to Oman

Press TV – Iran’s exports to Oman have significantly increased over the past six years to approach a target of $1 billion, says a trade representative.

Head of the Joint Iran-Oman Chamber of Commerce Mohsen Zarrabi said on Wednesday that total exports from Iran to Oman had reached $728 million, up nearly 400 percent from figures existing in August 2013, when the current administrative government took office for a first time.

Zarrabi did not elaborate on the calendar period used for calculation of the figures but added that the overall trade between Iran and Oman had increased over the past years to stand at $1.161 billion.

He said the trade boom had come mainly due to a better export management scheme which has been put in place by the government since American sanctions began to affect Iran’s crude sales last year.

A country of nearly five million people, Oman has reported increased imports over the past few years as it continues to tap into new sources of oil income.

The Arab country has maintained decades of close relationship with neighboring Iran despite various conflicts that have erupted in the Persian Gulf region.

Iran’s main items of export to Oman include food, agricultural and livestock products, construction material and equipment and engineering and technical services.

Zarrabi said that exports to Oman currently accounted for just three percent of the country’s yearly imports, adding that the share could be increased to 10 percent, or over $2 billion in value, in a near future.

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