Iran, Oman Set to Strengthen Cooperation in Trade, Economic Fields: Official

TEHRAN (Tasnim) – Golden opportunities have been created for Iran and Oman to expand their cooperation in the trade and economic fields, the chairman of the Iran-Oman Joint Chamber of Commerce said.

Free- and special economic zones are considered as good opportunities for the development of cooperation betwen the two countries, Jamal Razeghi emphasized.

Turning to the investment capacities and economic interactions of country with the Sultanate of Oman, he said, “Given the trade and economic infrastructures, the way has been paved for the two countries to broaden their activities in the trade and economic fields.”

He went on to say that the volume of exports and bilateral trade exchanges between the two countries registered a 52 percent growth last year as compared to a year earlier.

Allowing a-hundred-percent ownership of foreign investors of companies in each of two free- and special economic zones, no need for the least initial capital at Omani free zones, low price of land, the existence of the least preferential tariffs and customs duties in these regions have caused foreign investors to welcome participating in these areas, he stated.

Elsewhere in his remarks, Razeghi referred to the legal advantages and exemptions existing in free zones and added that foreign investors and producers can embark on packaging their products in Oman using raw materials with relatively cheap and reasonable prices.

Given the tough and cruel sanctions imposed against Iran, setting up joint free- and special economic zones can help thwart the adverse effects of sanctions, he added.

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