The Sultanate of Oman and the Islamic Republic of Iran have signed two memoranda of understanding (MoUs) and two cooperation agreements in Saadabad Palace, Tehran, in order to enhance development and investments between the two countries.
The two memoranda of understanding deal with promoting investments, and exchanging investment opportunities between the two countries. Further, the agreement intends to boost development and investments in economic zones and free zones.
Further, the two agreements deal with exchanging oil information and the joint study on the Hengam-Bakha field project.
According to the reports, “Oman, a strategically located Arab country sitting at the confluence of the Persian Gulf and the Arabian Sea, has for long shown active neutrality in regional and global conflicts, maintaining close ties with Iran and other Persian Gulf countries.”
The first memorandum of understanding was signed by Mr. Qais Mohammed al Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion, and Mr. Ehsan Khandozi, Iran’s Minister of Economic and Financial Affairs.
The second memorandum of understanding was signed by Mr. Al Yousef and Mr. Hojatollah Abdolmaleki, Iran’s Adviser to the President and Secretary of the High Council for Free Zones.
The two agreements were inked by Eng. Salim Nasser Al Aufi, Oman’s Minister of Energy and Minerals, and Ali Akbar Mehrabian, Iran’s Minister of Energy. The signing ceremonies were attended by the official delegations from both sides.