Iran-Oman trade increases to new record high under sanctions

Iran-Oman trade increases to new record high under sanctions

The volume of trade between Iran and Oman in the last Iranian year of 1400 increased to a new record more than $1.336 billion.

The Iran-Oman Joint Chamber of Commerce said in a report that statistics show that the volume of trade between Iran and Oman in the year 1400 in the Iranian calendar (March 21 2021-2022) increased by 53% compared to the previous year.

Mohsen Zarrabi, the chairman of Iran-Oman Joint Chamber of Commerce said that Iran’s exports to Oman in the year before (1999) $ 438 million while the amount increased to $ 716 million in 1400, indicating a 63% increase in Iran’s exports to Oman.

According to Zarrabi, in 1992, when the Iran-Oman Joint Chamber of Commerce was formed, exports to Oman were $ 148 million and the total volume of trade between the two countries was only $ 221 million.

The Iranian economic official said that the reason for this increase in the volume of exports to Oman is the new Iranian administration’s support for the private sector.

The increase in the bilateral trade with Oman is taking place while Tehran is under tough western sanctions.

 

 

By MEHR