Tehran, Muscat to launch automotive manufacturing plant

Speaking to the media on Thursday, Totonchi said Iran is to build an automotive manufacturing plant in al-Duqm economic zone of Oman.

Simultaneously with holding a large exhibition in Oman from January 23-27, Iran and Oman will take steps forward to boost relations, the official added.

He referred to 35 percent increase in volume of trade between Iran and Oman in 2016 and said the value of trade exchange between Tehran and Muscat has reached 1.35 billion dollars this year.

Some 9o Iranian companies active in various fields, including food and auto industries, will present their products in Iran's exhibition in Oman.

Iranian Minister of Industries, Mines and Trade, Mohammad-Reza Nematzadeh, is expected to attend Iran exhibition in Oman.

Meanwhile, Chairman of the Iran-Oman Joint Chamber of Commerce, Mohsen Zarrabi, has predicted increase in Iran's export to Oman to the value of 600 million dollars by the end of this Iranian calendar year (ended March 20).

Launch of direct shipping line between Iran and Oman has facilitated increase of Iran's exports to Oman, the official added.

He said Iran and Oman are expected to invest in Chabahar Free Trade Zone on joint venture.

The Omani Sultanate banks will provide half percent of finance needed for the projects, Zarrabi added.

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