Sultanate-Iran bilateral trade stands at $1 billion

By Zainab Al Nasseri — MUSCAT: Jan. 23 - The trade exchange between Oman and Iran reached almost $1 billion in October 2016, said Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry, on Monday. In 2015, it stood at $560 million. Dr Sunaidy was speaking after inaugurating the third Iran Country Solo Exhibition at the new Oman Convention & Exhibition Centre. Mohammad Reza Nematzadeh, Iranian Minister of Industry, Mining and Commerce, was also present. He said the expo aims at promoting trade and commerce between the Sultanate and Iran, highlighting the opportunities available in Iran for enhancing relations between private sectors of the two countries. The exhibition, organised by Omanexpo and Iran International Exhibitions Company, will run until January 27. The event is backed by the Iran Embassy and Trade Promotion Organisation of Iran. It features nearly 100 companies, covering a range of goods, including handmade and machine-made products, home appliances, food products, steel and metal, petrochemical products, power and industry-related equipment, construction materials and industrial machinery. Nader Abbas, General-Manager of Omanexpo, said: “This event is a way by which we can help promote high quality products of Iran and increase their trade presence in identified markets in Oman. In turn, it will open up opportunities for SMEs, manufacturers and distributors seeking to increase business prospects and expand their businesses.” Organisers have offered facilities for business-to-business meetings on Tuesday to ensure participating “companies get maximum networking and promotion benefit”.The exhibition will be open from 10 am to 1 pm and 5 pm to 10 pm up to January 26. On January 27, it will be open from 4 pm to 10 pm. (With ONA inputs)