Oman, Iran explore ways to boost trade ties

Tehran: Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion met with Mahdi Niazi, Acting Minister of Industry, Mines and Trade of the Islamic Republic of Iran.

The meeting was held on the sidelines of the visit of His Majesty Sultan Haitham bin Tarik to Iran.

During the meeting, the two sides reviewed means of enhancing economic, business and investment relations between the two countries. They also touched on augmenting trade exchange and investments.

The meeting discussed the memorandum signed between the Ministry of Commerce, Industry and Investment Promotion and Iran’s Ministry of Economic Affairs and Finance. The memorandum deals with investment promotion and exchanging investment opportunities and information in a bid to attract Iranian investors to invest in various sectors in Oman, especially in industry, tourism, mining, food security and logistics.

Moreover, the meeting highlighted the matter of providing further incentives to Omani and Iranian businesspeople.