Oman today_ The head of the Iran-Oman Joint Chamber of Commerce announced a target of $5 billion in trade between the two countries. He noted that the primary reason Iran’s trade with Oman is lower than with the UAE, aside from sanctions, is the lack of a regular shipping line between Iran and Oman. Although negotiations have taken place, this issue has not been resolved due to financial constraints. He mentioned that trade between Iran and Oman is growing, with an increase in trade in the first half of this year. However, he emphasized that these figures reflect official trade only. When comparing Iran’s trade volume with Oman to that with the UAE, it becomes clear that the trade volume with Oman is still relatively low. He explained that, in addition to sanctions, the lack of a regular shipping line is a major contributing factor. Some efforts have been made in this area, and the Iran-Oman Joint Chamber has reached an agreement with the Oman Chamber of Commerce whereby both the Omani and Iranian sides would each provide a 50% subsidy for a specified period. Oman has expressed willingness to support this initiative to establish a regular shipping line. However, despite multiple correspondences with the Trade Promotion Organization (TPO) and even discussions with the former minister, who agreed verbally, this issue remains unresolved. Razeghi emphasized the significant role a regular shipping line would play in expanding trade between the two countries. He stated that the delay in implementing this line is due to a lack of financial resources in Iran, with officials citing insufficient funds. The head of the Iran-Oman Joint Chamber of Commerce further noted that discussions have been held with several shipping lines over the past year, and they have expressed readiness to cooperate. He added that if the TPO provides at least initial approval, it would be possible to estimate and announce the necessary costs. However, no estimation of the required resources has been made yet. In conclusion, he highlighted that Iran’s annual trade with Oman currently exceeds $3 billion, but the Joint Chamber has set a target of reaching $5 billion in trade.
The growth of trade between Iran and Oman hinges on establishing a shipping line
