Iran, Oman Hold Negotiations on Launching PTA
TEHRAN (Tasnim) – The head of the Trade Promotion Organization of Iran (TPOI) said the first round of the talks on launching a Preferential Trade Agreement (PTA) between Iran and the Sultanate of Oman has been held in Muscat.
The trade and economic relations between the two countries have been following an upward trajectory in recent years, and the conclusion of the PTA and establishment of close trade-economic relations between the two countries in all trade and economic fields are of paramount importance, Mehdi Zeyghami, stated, Mehr news agency reported.
The deputy industry minister described the volume of trade exchanges between the two countries in the previous Iranian calendar year (ended on March 19, 2024) as ‘unprecedented’ and said the launch of the PTA is aimed at strengthening the trade-economic relations, increasing the volume of the trade exchanges, establishing a more safe environment for the sustainable growth of trade, facilitating the diversification of the exchanged products, encouraging more competition between the economic enterprises and also removing the trade barriers facing the two countries.
Back in December 2023, the TPOI chief in a meeting with the director of trade, industry, and investment development of the Sultanate of Oman discussed joint investment, industrial and financial issues between the two countries.
