Trade between Oman and Iran exceeded $1 billion by the end of October last year, according to Sultanate’s Minister of Commerce and Industry Ali bin Masoud Al Sunaidy.

Speaking on the sidelines of Iran Solo Exhibition that showcased only Iranian products at the Oman Convention & Exhibition Centre, Al Sunaidy said the bilateral trade was expected to grow further this year. 

“Bilateral trade between Oman and Iran exceeded $1 billion by the end of October last year. In 2015, it was nearly $560 million,” he said.

“We have seen the Iranian expo progressively bolstering the trading relationship between the two countries. A further growth in bilateral trade between the Sultanate and Iran is expected this year,” he added.

Sunaidy also said the shipping line between the Port of Sohar and Bandar Abbas is now vibrant.

The third edition of the exhibition was inaugurated on Sunday by Sunaidy and Iranian Industry Minister Mohammad Reza Nematzadeh.

Nematzadeh, for his part said that, “This expo, which is better than the last two editions, is an indicator of the growing trading relationship between the two countries. We hope that there will be a good opportunity for people to visit Iran.”

 (Source: Times of Oman)