Muscat: The joint committee between the Sultanate of Oman and the Islamic Republic of Iran today held its 21st session in Muscat.
The meeting discussed means of enhancing cooperation in economic, investment and cultural fields.
During the meeting, the Omani side was headed by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, while the Iranian side was headed by Syed Mohammad Atabek, Minister of Industry, Mining and Trade.
The two sides reviewed the trade and investment relations between Oman and Iran, as well as means of boosting these relations in sectors of mutual interest. They also touched on means of enhancing cooperation in the fields of trade, industry, investment, the banking sector, the environment, health, telecommunication services, data centres, sea cables and postal services, among other fields.
Qais Mohammed Al Yousef, the Minister of Commerce, Industry and Investment Promotion underlined the depth of trade and investment relations between the two countries. He added that the trade exchange between the two countries increased and reached RO 335 million compared to RO 320 million in 2022 (up by 4.7%). Trade exchange till October 2024 reached RO 419 million.
The minister said that the number of companies with Iranian shareholders till the end of 2024 reached 6,511 compared to only 3,757 companies in 2023, with a growth of 73.3%. The number of Iranian shareholders reached 11,726 till the end of 2024 compared to 7,077 in 2023 (up by 65.7%).
Further, the Iranian delegation toured the departments of Invest Oman lounge, as well as the services and incentives offered to investors. Prominent investment opportunities in Oman were also highlighted.
The visit comes within the framework of joint efforts exerted to enhance economic and investment cooperation between Oman and Iran in a manner that serves mutual interests.
