Tehran and Muscat will boost collaboration in the economic, energy and investment fields as well as free zones.

The documents were inked by Iranian ministers of oil, economic affairs and finance as well as the secretary-general of the Supreme Council of Free Trade-Industrial and Special Economic Zones and Omani minister of energy, finance and trade.

At a press conference with his Omani counterpart, Iranian Foreign Minister Hossein Amirabdollahian said, in addition to the four documents, leaders of Iran and Oman seek to finalize a comprehensive strategic cooperation agreement in the near future.

Trade exchanges between Iran and Oman have more than doubled since President Raisi paid a visit to Muscat last May, when 12 cooperation documents were signed, Amirabdollahian said.

He expressed hope that the new cooperation agreements will further boost the growing trade between the two countries.

He said Iran and Oman agree on the need to improve shipping cooperation and activate the capacity of the two countries’ ports.

On Sunday Iran and Oman signed an agreement on their joint study on shared Hengam oil field in the Strait of Hormuz, the Persian Gulf.

The agreement is aimed at preparing a Master Development Plan (MDP) for the joint oil field, and different scenarios for further development and bilateral cooperation on exploitation of the field.

The agreement was signed following memorandums of understanding (MoUs) inked during last year’s Oman visit of Iran’s Oil Minister accompanying President Raisi.

Iran had earlier signed several MoUs with neighboring states on integrated development of joint fields, but none of them made progress and led to an agreement. This is the first agreement on cooperation between Iran and a neighboring country in a shared field. This agreement, however, has yet to include the field development, as the development contract is pending and will be signed after the MDP preparation.

Meanwhile Iranian minister of economic affairs and finance announced the signing of an agreement with Oman for setting up a joint investment committee aimed at bolstering bilateral trade.

Seyed Ehsan Khandouzi said a cooperation agreement was inked for launching a joint investment committee between Iran and Oman in the wake of an ongoing visit to Iran by a high-ranking Omani delegation led by Oman’s Sultan.

Under the agreement, the two sides agreed to follow up on the implementation of the deals signed between the senior officials of the two countries, he stated.

Also, a cooperation agreement was agreed between the two sides in the field of supporting bilateral investment which would be inked after it is approved by the Omani parliament, Khandouzi continued.

In response to a question on the prospect of economic relations between the two countries in the future, the economy minister said, “Given the volume of bilateral trade between Iran and Oman that increased significantly following last year’s visit by Iranian President Ebrahim Raisi to Muscat, all indications are that the two sides would witness considerable trade boom in the coming year.”

He expressed hope that bilateral joint investment will open a new phase of economic cooperation between the two countries.

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During the meeting, Iranian Deputy Foreign Minister for Political Affairs Ali Bagheri Kani and Omani Deputy Foreign Minister for Diplomat Affairs Sheikh Khalifa al-Harthy pointed to the 50th anniversary of the establishment of relations between the two countries, expressing satisfaction with the level of relations between Iran and Oman.

Emphasizing the need to resolve regional issues by the countries of the region, Ali Bagheri Kani expressed hope that the existing problems will be resolved based on dialogue between the countries of the region.

Referring to the pivotal role of Iran in regional developments, Sheikh Khalifa al-Harthy said that his country, as in the past, is interested in developing bilateral and regional relations.

He added that Oman considers peaceful paths necessary for peace and tranquility in the region.

Iran-Oman relations, which have regional and trans-regional influences, will continue, he noted.

In addition to bilateral issues, the two sides discussed various regional and international issues, including the Vienna talks, the need for a political solution to the crisis in Yemen, and the region’s need for dialogue.

At the end of the meeting, the minutes of the 8h meeting of the Joint Strategic Consultation Committee of Iran and Oman was signed by the deputy foreign ministers of the two countries.

In recent weeks several Omani officials have arrived in Tehran to meet Iranian officials to boost ties with Iran.

Two weeks ago ranking commanders from Iran and Oman weighed plans for the promotion of military cooperation between the two neighbors and joint action in the fight against terrorism.

Heading a military delegation, Assistant Chief of Staff of the Sultanate of Oman’s Armed Forces for Operations and Planning Brigadier General Staff Abdulaziz bin Abdullah Al-Mandhari met with Chief of Staff of the Iranian Armed Forces Major General Mohammad Hossein Baqeri in Tehran.

The meeting was held as part of plans to expand the military and international cooperation between Tehran and Muscat.

Then days after this meeting, Iranian and Omani armed forces held a joint military drill and last week an economic meeting between the business activists of the two countries was held at Iran’s chamber of commerce.

Oman has been one of the close friends of Iran in the Persian Gulf.

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Addressing the webinar, Head of the Iran-Oman Joint Chamber of Commerce Mohsen Zarrabi said that Iran and Oman can enhance their trade relation by focusing on cooperation in fishery, mining, and tourism sectors regarding the Oman Five-Year Development Plan.

He added that he believes the ground for growth in the bilateral relation and investment of Iranians in Oman is ready.

He added that fishery, mining, and tourism are the sectors that both countries can engage in cooperation.

Zarrabi then elaborated the details and trade and investment capacities in Oman and said due to economic security and stability in Oman, and its favorable political relation with Iran and other countries has turned this Arab country into a strategic partner for Iran.

He also called for developing the infrastructures for the connection of these two countries which has started in 20015 based on the plans of the joint chamber.

Zarrabi noted that Oman has eased the visa process for Iranians as Iranian nationals do not need visas for staying less than 14 days and for a longer stay, they can get visas upon their arrival at airports.

He also said Oman has allocated to ports of Suwayq and Sultan Qaboos for Iranian ships and goods and Iranians can register their companies in the free zones and even in the mainland as shareholders.

He expressed hope with the new facilities provided by Oman, Iran’s share of this country’s total imports would increase up to 10 percent.

Zarrabi also said that several unnecessary directives and regulations have hindered Iranians from having a strong presence in the target markets, adding that these overnight regulations have harmed the reputation of Iranian tradesmen.

Meanwhile Head of International Affairs of ICCIMA Mr. Mohammad Reza Karbasi, for his part, said that Oman is one of Iran’s major trade partners and the trade volume of these two countries has not been affected under the sanctions or the COVID-19 pandemic and it has even enhanced. He added that fortunately, the approaches of both governments regarding boosting cooperation have always been positive.

He then pointed to four properties of Oman for Iran. Karbasi also pointed to the direct flights between Iran and Oman, saying that fortunately, there are several direct flights from different cities of Iran like from Tehran, Isfahan, Shiraz, Mashhad, Bandar Abbas, Chabahar, and Kish to Oman, and this has helped the level of ties between the two countries to increase considerably.

He also said easing the visa issuance for Iranians has been another positive development in the relation of both countries which will have an effective role in enhancing the trade relations between Tehran and Muscat.

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