MUSCAT – The fraternal relations between the Sultanate of Oman and the Republic of Iraq are witnessing cooperation in various fields, especially in the economic and trade fields, which brings mutual benefits to the two countries and peoples.

Statistics issued by the National Centre for Statistics and Information (NCSI) showed that the volume of trade exchange between the Sultanate of Oman and the Republic of Iraq amounted to RO 239,242,502 during the first half of 2025, an increase of 1.2 percent compared to the same period in 2024, when it amounted to RO 156,552,000.

The value of Omani exports to Iraq amounted to around RO 32.8 million, while imports from Iraq reached approximately RO 206.4 million. Key Omani exports included electrical cables, gold jewellery, and marble, whereas major imports from Iraq comprised natural gas, petroleum gas, and blended propane gas.
Statistics show that the number of Iraqi visitors to Oman during the first seven months of 2025 reached approximately 11,558.

Investment relations are also on the rise. The Ministry of Commerce, Industry and Investment Promotion reported that 1,304 Iraqi companies were operating in Oman as of mid-2025, with a total investment capital of RO 94.3 million and an Iraqi ownership rate of 68.2 percent.

The two countries are bound by several bilateral agreements, including those on economic and trade cooperation, air services, and the establishment of a free trade zone.

Commenting on the official visit of Iraqi Prime Minister Mohammed Shia Al-Sudani to Oman, His Excellency Faisal bin Abdullah Al Rawas, Chairman of the Oman Chamber of Commerce and Industry (OCCI), highlighted the depth of economic ties and the shared ambition to expand cooperation across key sectors. He explained that the visit presents a vital opportunity to deepen economic and trade relations, particularly in energy, mining, petrochemicals, logistics, tourism, agriculture, and food industries.

He added that Oman’s strategic location, advanced infrastructure, investment incentives, and special economic zones make it an ideal partner for Iraqi businesses looking to expand into Asian and African markets.

His Excellency Al Rawas also pointed to Iraq’s “Development Road” project as a promising platform for integration, offering opportunities for Omani companies in logistics and transport services.

His Excellency emphasised that the OCCI is keen to build effective bridges of communication between the business communities of the two countries, encouraging joint investments and knowledge exchange to boost economic diversification and create new job opportunities. He explained that enhancing cooperation between private sector institutions in the two countries will constitute a true lever for bilateral relations and strengthen the shared historical and fraternal ties.