The head of the Trade Promotion Organization of Iran (TPOI) said that the first round of the talks for launching the Preferential Trade Agreement (PTA) between Iran and the Sultanate of Oman was held in Muscat.

According to The Iran Project, the trade and economic relations between the two countries have been following an upward trajectory in recent years, so that conclusion of the Preferential Trade Agreement and also establishing very close trade-economic relations between the two countries in all trade and economic fields are of paramount importance, Mehdi Zeyghami, the TPOI chairman stated.

He, who is also the deputy industry minister described the volume of the trade exchanges between the two countries in the previous Iranian calendar year (ended on March 19, 2024) as ‘unprecedented’ and added that launch of the PTA between the two countries is made in line with goals such as strengthening the trade-economic relations, increasing the volume of the trade exchanges, establishing more safe environment for the sustainable growth of trade, facilitating the diversification of the exchanged products, encouraging more competition between the economic enterprises and also removing the trade barriers facing the two countries. 

Back in December 2023, TPOI chief in his meeting with the director of trade, industry, and investment development of Sultanate of Oman discussed joint investment, industrial and financial issues between the two countries.