TEHRAN - The Head of Iran's Trade Promotion Organization (TPO) Mehdi Zeighami, met the director of trade, industry, and investment development from the Sultanate of Oman to discuss areas of joint investment, industrial matters, and financial affairs between the two countries.

Zeighami, also serving as the deputy industry minister, announced on Tuesday that the first round of the talks to establish a Preferential Trade Agreement (PTA) between Iran and the Sultanate of Oman was held in Muscat.

The trade and economic relations between the two countries have been consistently improving in recent years, he said, adding that the conclusion of the Preferential Trade Agreement and the establishment of close trade and economic relations in all fields are of paramount importance.

He characterized the trade volume between the two countries in the last Iranian calendar year (ending March 19, 2024) as "unprecedented".

He noted that the initiation of the PTA between the two countries aligns with objectives like bolstering economic relations, augmenting trade volume, creating a safer environment for trade growth, diversifying traded goods, fostering greater competition among businesses, and eliminating trade obstacles faced by both countries.

Zeighami indicated that the final results of the talks would ultimately receive approval from the legal authorities of the two countries.

EF/