MUSCAT : The meeting was held in the presence of His Excellency Mohammed Shia’ Al-Sudani, Prime Minister of Iraq, as part of his official visit to the Sultanate.

In his remarks, the Iraqi Prime Minister emphasised that the agreements and memoranda of understanding signed between the two countries form a roadmap for translating their historic ties into joint projects that support sustainable development. He noted that the current volume of trade exchange remains below expectations and encouraged greater private sector engagement, affirming Iraq’s readiness to offer preferential incentives to Omani investors.

From the Omani side, His Excellency Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, reiterated Oman’s ambition to expand economic integration and joint action. He stressed the importance of translating agreements into executable programs, intensively monitored, and guided by the leaderships’ vision in both countries.

He also underscored the two governments’ efforts to provide all the facilities, incentives, and enablers that will enable the private sector to contribute to achieving prosperity and sustainable growth.

His Excellency Dr. Atheer Dawood Salman, Iraq’s Minister of Trade, highlighted the growing trade volume between the two nations, which reached USD 779 million in 2024 — a 30 percent increase over 2023. This growth was driven by increased Iraqi exports of naphtha oils and LPG to Oman, alongside rising Omani exports to Iraq, including dairy products, fish, polyethylene, and electrical cables.

His Excellency also outlined are many joint initiatives between the two sides, such as establishing a regional centre for Iraqi dates in Oman; collaboration in smart agriculture and protected farming; joint fish farming projects; and development of integrated export packages combining products from both countries.

He stressed that these initiatives will open new horizons for cooperation, contribute to strengthening economic integration, and expand the presence of Iraqi and Omani products in regional and international markets.

His Excellency Faisal bin Abdullah Al Rawas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry, highlighted the depth of growing economic ties and the vast potential for investment across sectors, including industry, food security, tourism, energy, and logistics. He called on private sector players to capitalise on the meeting’s outcomes and emphasised the importance of Oman’s participation as guest of honour at the Baghdad International Fair, which included over 30 Omani companies.

His Excellency Abdul Razzaq Al-Zuhairi, Chairman of the Federation of Iraqi Chambers of Commerce, reiterated the importance of fostering cooperation between private sectors in both countries, pointing to the strategic geographical positions of Oman and Iraq as gateways to regional markets.

The meeting included a visual presentation on the Commercial Franchise Program, one of the initiatives of the Oman Chamber of Commerce and Industry aimed at enhancing the business environment and providing a development model that supports entrepreneurs and national brands towards expansion and sustainability.

It also featured a presentation on ‘Invest in Oman’, highlighting the available investment opportunities and the advantages, incentives, and facilities offered by the Sultanate of Oman to investors.
On the sidelines, bilateral meetings between Omani and Iraqi business representatives were held to discuss joint investment projects, understand business environments, and explore partnerships in priority sectors.

The business meeting was attended by His Excellency Eng. Saeed bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology (Head of the Honorary Mission), His Excellency Eng. Hayan Abdulghani Al Sawad, Deputy Prime Minister and Minister of Oil, and a number of officials from both sides.

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