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EghtesadOnline: Forty Iranian companies active in the field of construction have signed a contract to participate in the biggest industrial park of Oman in a move aimed at strengthening bilateral ties that have warmed in recent months.

According to IRNA, the contract was signed on Sunday between the Iranian Embassy in Muscat, represented by ambassador Mohammad Reza Nouri Shahroudi, and Omani representatives. It allows specialized Iranian firms to offer and sell their products in Oman, giving a boost to trade with the neighboring country.

Due to Oman's geographical standing, located south of Iran and separated only by the Persian Gulf, 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.

The 40 companies will participate in Sandan, Oman's biggest industrial park slated to launch in early 2019. Omani officials have also agreed to name a street in the industrial park for Iran, Financial Tribune reported.

"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," Shahroudi said.


Iran Oman Firms Construction Contract industrial park