Iran (IMNA) - Ehsan Khandouzi, Iran's minister of finance, declared on Monday that he has accepted Oman's invitation to sign a PTA between the two nations.
"We are in full agreement with this proposal and are going to back the issue in the Cabinet," Khandouzi was reported as saying by the Ministry of Economic Affairs and Finance's press agency.
However, he stated that Iran and Oman intend to move beyond a PTA in their expanding trade and economic relations by launching cooperative investment plans.
Following a meeting with Oman's Minister of Commerce, Industry, and Investment Promotion Qais bin Mohammad Al Yousef in Tehran, the minister made the comments.
To increase Iran's export capabilities, Qais is leading a 200-person trade and commercial delegation to Iran EXPO 2023, which takes place in Tehran from May 7 to 10.
During his conversation with Khandouzi, the Omani minister stated that his nation is committed about expanding commercial links with Iran, and that he was amazed to observe the degree of industrial advancement in Iran during his visit to the Iran EXPO 2023 event.
Gholam Hossein Shafei, the president of the Iran Chamber of Commerce, also stated on Monday at a meeting that Qais and his delegation were present at that commerce between Iran and Oman may easily exceed $3 billion annually given the sharp increase in bilateral trade over the previous few years.
According to data provided by the Iranian government, trade between Iran and Oman totaled almost $1.8 billion in the Iranian calendar year up to late March, an increase of 41% from the previous year.
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