Omani-Irani relations are expected to benefit from a visit by representatives of Ithraa, Oman's investment promotional export development agency, to Tehran on Tuesday to discuss trade possibilities.
The delegation, being led by Sayyid Faisal Al Said, director general of investment promotion for Ithraa, also known as the Public Authority for Investment Promotion and Export Development, located in Muscat, expects the meeting to focus on the specific sectors of logistics, metals and health care.
"Our visit to Tehran has been designed specifically to enhance dialogue between Ithraa and our Iranian counterparts and capitalize on the existing trade and investment ties our two countries enjoy,” Al Said said.
"The Sultanate is open for business and the government is committed to supporting non-oil Omani export growth and encouraging inward investment,” Al Said said. “This is the message we will be delivering to colleagues in Tehran.”
After Saudi Arabia, Iran is the Middle East’s second largest economy in the MENA (Middle East and North Africa) region, boasting an estimated GDP of $393.7 billion in 2015. Additionally, its population also ranks second, following only Egypt, with approximately 78.8 million residents as of 2015; and growth of its economic base is predicted to reach 4 percent in 2016.
"Trade missions are invaluable in developing new and existing markets overseas for Omani businesses,” Al Said said. “The objective of our Tehran visit is to build on the existing strong economic links Oman enjoys with Iran … bolster productive trade and investment relations and reinforce the potential for Omani exporters in the fast growing Iranian economy which will ultimately mean jobs in Oman."