TEHRAN- According to Omani Foreign Minister Yusuf bin Alawi bin Abdullah cutting reliance on foreign currencies and using Iranian and Omani rial in trade transactions between the two Persian Gulf countries is one of the major requirements to enhance mutual banking and commercial ties, IRNA quoted the official as saying.

During his Saturday meeting with the Governor of Central Bank of Iran (CBI) Valiollah Seif in Tehran, the Omani minister said that Iran and Oman have the advantage to play a role in each other’s oil, gas and petrochemical markets and development of such relations needs expansion of common banking ties. 

He also called for preparation of operational and practical plans as well as creation of joint accounts.

The Omani top diplomat, leading a delegation, arrived in Tehran on Friday to hold talks with Iranian officials on development of common ties and regional issues.

Seif, for his part, addressed the issue of the presence of Omani banks in Iran noting that “besides its firm political and economic ties with Iran, Oman can act as an exports hub in the region as well as a center of international banking relations for the country.” 

The CBI governor underscored bilateral banking ties as the prerequisite for any further economic ties with Oman.

Seif also welcomed establishment of the two countries’ banks in each other’s lands.

 
PHOTO: Governor of Central Bank of Iran (CBI) Valiollah Seif (L) and Omani Foreign Minister Yusuf bin Alawi bin Abdullah met in Tehran on Saturday. 

HJ/MA