Recently, 40 Iranian
firms active in the field of construction have signed a contract to participate
in the biggest industrial park of Oman in a move to encourage bilateral trade
among both the countries. The contract was signed at Iranian Embassy in Oman in
the presence of Ambassador Mohammad Reza Nouri Shahroudi, and Omani
representatives.
The contract will allow specialized Iranian firms to offer and sell their
products in Oman, giving a boost to trade with Oman. The 40 companies will
participate in Sandan, Oman's biggest industrial park likely to launch in early
2019.
According to Mr.
Shahroudi,"Due to the good level of relations between the Islamic Republic
of Iran and the Sultanate of Oman, and many shared values, cultural proximity,
geographical adjacency and ever-increasing economic and trade ties in the past
two years, we consider this contract a good opportunity for Iranian
construction companies to participate in the Omani market".
Due to Oman's
geographical location, participation of Iranian companies in the country's
construction sector can prove to be a good opportunity to better trade with
Yemen and African countries.
It is to be noted
that Iranian steelmakers has been creating milestones in the field of
constructional steel production. Iran’s Esfahan Steel Company is one the
largest construction steel manufacturer and exporter in MENA region.
The company exported
606,414 MT of steel during the seven months of current Persian year(21 Mar-22
Oct’18). Major product exported by ESCO were Ingot (147,996 MT), rebar (108,196
MT), followed by beam (74,112 MT) and wire rod (23,624 MT).
Iran and Oman Seek
to Boost Bilateral Trade to USD 1 Bn.
Mr. Mohsen Zarrabi,
Head of Iran-Oman Chamber of Commerce said that the trade between the two
countries are expected to reach USD 1 billion by the end of this year. Iran and
Oman has good economic relations in recent years due to extended bank
cooperation between the two countries.
It is to be noted
that Iran is one of the largest semi-finished steel exporter to Oman, the
nation has exported around 0.75 MnT of semi-finished steel to Oman in CY’17.
During the current CY’18(Jan-Sep), Iran has already exported 0.76 MnT to Oman.
Iran is also one of
the key exporter of finished flat steel to Oman, the nation has exported around
0.05 MnT steel to Oman in CY’17. During the current CY’18 (Jan- Sep), Iran has
exported around 0.11 MnT steel to Oman.
Inputs taken from
Financial Tribune and Iran Daily
Source: steel mint