Iran and Oman to Remove Trade Tariffs, Boost Customs Cooperation

By Staff, Agencies

The Islamic Republic of Iran and the Sultanate of Oman have reached an agreement to eliminate trade tariffs as part of attempts to further expand bilateral economic relationship.

During the 21st session of Iran-Oman Joint Economic Cooperation Commission in Muscat on Friday, the two sides signed a joint economic memorandum of understanding in the field of preferential trade and customs cooperation.

"Three agendas were discussed; first, negotiation on trade and tariffs was agreed upon to take effect next week," stated Iranian Minister of Industry, Mines and Trade Mohammad Atabak.

The Minister highlighted significant investment opportunities and signed an agreement to enhance trade and investment cooperation between the two parties.

Atabak highlighted the need for customs and administrative cooperation between the two sides to facilitate trade, stating that necessary planning has been completed and the matter will be resolved soon.

Furthermore, he discussed the establishment of a shipping line between Bandar Abbas and Oman, increased flights, and stronger maritime collaboration with Omani Minister of Transport, Communications, and Information Technology.

Oman has long been an interlocutor in interactions between the West and Iran. The country has mediated the release of several foreign citizens and dual nationals.