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30-05-23

Iran, Oman Strengthen Economic Cooperation with Four Cooperation Documents

(MENAFN) During the official visit of Oman's Sultan Haitham bin Tariq al-Said to Tehran, Iran and Oman have taken significant steps to enhance their economic ties by signing four cooperation documents across various sectors. These documents, which cover energy, investment, and free zones, aim to foster closer collaboration and promote mutual benefits between the two nations.

On Sunday, Iran's Oil Minister Javad Oji and Oman's Minister of Energy and Minerals Salim bin Nasser al-Aufi signed an important agreement in the energy sector. This agreement underscores the intention of both countries to enhance cooperation in energy-related matters, potentially opening avenues for joint projects and ventures that can bolster their energy sectors.

In addition to the energy document, three other significant agreements were signed between Iran and Oman. Iranian Finance and Economic Affairs Minister Ehsan Khandouzi, along with Secretary of Iran's Free Zones High Council Hojatollah Abdolmaleki, signed these documents alongside Oman's ministers of economy and commerce. The areas of cooperation covered by these documents include the economic, investment, and free zones sectors.

One notable aspect of the signed investment document is the establishment of a joint investment committee. This committee will play a crucial role in expediting investment projects in both Oman and Iran. Its purpose is to facilitate the approval and implementation of investment ventures by introducing relevant parties to each other. By streamlining the investment process, the joint committee aims to promote efficient and timely implementation of investment projects.

Furthermore, the agreement includes provisions for supporting investors, demonstrating the commitment of both countries to create a conducive environment for investment. This agreement, once finalized and approved by the Omani parliament, will offer support mechanisms to investors, further incentivizing cross-border investments between Iran and Oman.

The signing of these cooperation documents reflects the shared desire of Iran and Oman to expand economic ties and strengthen their partnership. By fostering collaboration in sectors such as energy and investment, the two nations seek to capitalize on their respective strengths and create opportunities for economic growth. These agreements lay the foundation for enhanced economic cooperation and serve as a testament to the commitment of both countries to deepen their bilateral relations.

As Iran and Oman continue to explore avenues for collaboration, these cooperation documents pave the way for increased trade, investment, and economic development, ultimately benefiting the citizens of both nations.
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