Iran and Oman traded more than $111 million worth of goods in one month to register high growth.
Iran exported 176,203 tons of goods worth $74.39 million to Oman during the first month of the current Iranian year (March 21-April 20), registering a 7% and 103% growth in weight and value respectively year-on-year, according to the spokesperson of the Islamic Republic of Iran Customs Administration.
“Imports from this southern neighbor stood at 41,328 tons worth $36.74 million during the period, registering a 29% and 143% rise in volume and value respectively year-on-year,” Rouhollah Latifi was also quoted as saying by ILNA.
In the last Iranian year (March 2021-22), he added, bilateral non-oil trade reached 4.19 million tons worth $1.33 billion, indicating a 27% and 53% increase in weight and value respectively, compared with the year before.
“We exported 2.28 million tons of goods worth $716 million. The figures show a 14% and 63% growth in weight and value respectively. Our main exported products included tar, urea, iron and steel products, fruit, vegetable and construction materials.”
Last year’s imports amounted to 1.9 million tons worth $619.5 million, indicating an increase of 49% and 43% in volume and value respectively.
“Our main imported products were corn, coal, raw edible vegetable oils, oilseeds, wheat, barley, industrial and road maintenance machinery, minerals, medical and dentistry equipment, paper and cardboard,” he said.
Raisi in Oman
Iran’s President Ebrahim Raisi arrived in Oman on Monday, as the two countries signed a string of trade deals and as international talks on Tehran’s nuclear program hang in the balance, leaving the Islamic Republic under sanctions, AFP reported.
Raisi, on his second Persian Gulf visit since taking office in August, was greeted by Sultan Haitham bin Tareq at the airport and received a 21-gun salute at the royal palace, an Omani statement said.
Raisi’s one-day trip comes at a time when renewed talks on restoring a 2015 nuclear deal are at a stalemate. Oman played a mediating role between Tehran and Washington in the build-up to the original agreement.
The countries signed eight memoranda of understanding during the visit, including in the fields of oil and gas, transport, education, trade and investment, reported the official Oman News Agency.
“Trade exchanges between the two countries of Oman and Iran will improve definitely,” Raisi said before departure, according to IRNA.
“Both countries are determined to upgrade the level of political and economic ties,” he added.
A delegation of 50 Iranian businessmen travelled to Oman last week and Iran’s Roads Minister Rostam Qasemi announced plans for starting a joint shipping line and tourist flights.
Oman is also seeking to import gas from Iran by building an offshore pipeline between the two countries, apart from discussing the development of joint offshore gas fields.
The sultanate, which faces Iran across the Sea of Oman, endured economic pain during the pandemic, with its GDP dropping 6.4% in 2020 and government debt soaring. It saw protests over high unemployment and layoffs last year.
Raisi visited Qatar in February, where he met with Emir Tamim bin Hamad Al-Thani and took part in a conference of gas exporting countries.
Stop-start talks to bring Iran back to the 2015 deal curbing its nuclear ambitions in return for a lifting of sanctions began in April last year.