Developing Iran-Oman trade ties depends on solving banking barriers

Addressing a Sunday meeting with Omani delegation in Bandar Abbas, Farzam said that solving banking problems, namely opening letter of credit (LC), transferring money and bank guarantees will have positive effects on developing Iran-Oman trade ties.

She reiterated that Iran-Oman joint chamber is consulting on businessmen's access to Iraq, Pakistan and Afghanistan markets, IRNA reported.

'We are preparing the ground to participate in Sohar Port and Free zone which is a suitable hub for foodstuff in the region,' she added. 

'Bandar Abbas and Chabahar are good places for joint investment between Iran and Oman and for exports to Commonwealth of Independent States (CIS) and to Iran's neighboring countries.'

She also referred to Special Economic Zone of Duqm as a suitable place in petrochemicals, cement, building, aluminum and machinery fields. 

'The proximity of Hormuzgan province and Oman, low transportation fees, cultural and religious commonalities, Oman's interest in Iranian products, successful experience of Hormuzgan merchants in Oman has increased the importance of Hormuzgan's merchants presence in Oman markets,' she noted.