Thursday 04 / September / 2025
Salalah: The Omani-Iraqi Business Forum, held on Thursday at the Sultan Qaboos Youth Compound for Culture and Entertainment in Salalah, discussed ways to enhance economic cooperation and trade partnerships between the two countries across various fields. The meeting was attended by Mohammed Shia' Al Sudani, Prime Minister of the Republic of Iraq, as part of his official visit to the Sultanate of Oman.
In his address, the Prime Minister of Iraq stated that the agreements and memoranda of understanding signed by the two countries in various fields will chart a roadmap for government institutions to implement the agreed-upon items, leverage available opportunities, establish joint projects, and translate the distinguished and historically rooted relations between the two nations into contributions toward sustainable development that benefits both peoples.
He added that the volume of trade exchange between Oman and Iraq does not yet meet the level of aspirations and approaches, calling on the private sector in both countries to take advantage of the available and promising investment opportunities. He emphasised that his country is ready to offer preferential advantages to Omani business owners and companies wishing to invest in Iraq.
On his turn, Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, expressed his hope that this forum would lead to greater ambitions in developing joint work and driving the elements of integration toward broader horizons. This, he said, aims to build a competitive economy that interacts with global economies, integrates with them, keeps pace with changes, and contributes to the sustainability of the national economy.
He also highlighted both governments' efforts to provide all facilitations, incentives, and enablers that would empower the private sector to contribute to achieving prosperity and sustainable growth.
In his speech, he pointed out that this event is an important opportunity for the private sector to play its desired role, emphasising the importance of translating agreed-upon items into an executive program that is intensively and continuously followed up. He also stressed the need to focus on the private sector and enhance Omani-Iraqi relations to a better and higher level in the coming period, fulfilling the aspirations and directives of the leaderships of the two countries.
Meanwhile, Dr. Atheer Dawood Salman, Iraqi Minister of Trade, stated that trade relations between the two countries have seen notable development over the past two years. The trade volume reached approximately $779 million by the end of 2024, compared to $601 million in 2023, recording a growth rate of 30%. This, he said, is attributed to increased Iraqi exports of naphtha oils and liquefied petroleum gases to Oman, alongside growing Omani exports to Iraq in areas such as dairy, fish, polyethylene, electrical cables, and others.
He pointed out that there are many joint initiatives between the two sides, such as establishing a regional center for Iraqi dates in Oman, exchanging agricultural expertise in smart farming, low-salinity water, and protected agriculture, setting up joint fish farming projects using the latest technologies, and developing integrated export packages by combining Iraqi and Omani products.
He affirmed that these initiatives will open new horizons for cooperation and contribute to enhancing economic integration while expanding the presence of Iraqi and Omani products in regional and international markets.
For his part, Faisal bin Abdullah Al Rowas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry, stated that the trade volume between the two countries has seen noticeable growth in recent years, reflecting the strength of growing economic cooperation and the depth of existing trade partnerships.
The economic relations, he said, hold wide potential and opportunities for growth and prosperity, being based on complementarity and shared will. They support market diversification and provide qualitative opportunities in multiple sectors, including industry, food security, tourism, energy, and logistics. He affirmed that the private sector is capable of turning these opportunities into tangible investment projects.
Abdulrazzaq Al Zuhairi, President of the Federation of Iraqi Chambers of Commerce, underlined the importance of this forum in enhancing economic and investment cooperation, particularly between the private sectors of the two countries. He highlighted the promising and competitive advantages and investment components enjoyed by Oman and Iraq across various sectors, along with the facilitations and incentives provided to investors.
He noted that the two countries possess a strategic location that facilitates the spread of Omani and Iraqi goods and products into various neighboring markets.
The meeting included a visual presentation on the Trade Franchise Programme, one of the initiatives of Oman Chamber of Commerce and Industry aimed at enhancing the business environment and providing a developmental model that supports entrepreneurs and national brands toward expansion and sustainability.
During the meeting, a visual presentation on "Invest Oman" was also delivered, highlighting the available investment opportunities, advantages, incentives, and facilitations offered by Oman to investors.
On the sidelines of the forum, bilateral meetings were held between Omani and Iraqi business owners, discussing ways to enhance trade and investment cooperation, understand procedures and the business environment in both countries, and explore the possibility of establishing joint investment projects.
The forum was attended by Eng. Said bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology (Head of the Mission of Honour), Eng. Hayan Abdulghani Al Sawad, Deputy Prime Minister and Minister of Oil, and a number of officials from both sides.
