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Oman: In a recent diplomatic engagement, Dr. Ali Masoud Al Sunaidi, Chairman of the Public Authority for Special Economic Zones and Free Zones (Opaz) in Oman, welcomed Hojjatullah Abdul Maliki, Advisor to the President of the Islamic Republic of Iran and Secretary of the Supreme Council of Iranian Commercial, Industrial, and Special Economic Free Zones.

This high-profile meeting delved into the activation of a previously signed memorandum of understanding (MoU) between the two nations. The focal point of the MoU is the encouragement of companies operating within economic and free zones to cultivate commercial relationships and collaboratively establish branches for implementing joint projects.

Notably, Opaz inked the MoU with the Iranian side, a strategic move aimed at propelling economic and investment development. The agreement specifically aims to underscore the competitive advantages inherent in the special economic zones and free zones of both Oman and Iran.

The formal discussions during the meeting revolved around finding ways to actualize the provisions of this agreement, emphasizing the pivotal role it plays in fostering international collaboration and boosting economic ties.

The signed MoU facilitates deeper integration of business landscapes in Oman and Iran, offering a framework for companies to explore joint ventures in economic and free zones. This collaboration aligns with the broader goals of both nations, demonstrating a commitment to capitalize on the unique strengths of their special economic zones for mutual benefit.

As both countries continue to explore avenues, this meeting serves as a step towards the realization of shared objectives. The MoU formalizes a commitment that recognizes the strategic importance of economic and free zones in promoting cross-border collaboration and investment.

This exchange not only strengthens bilateral ties but also highlights the potential for increased economic activity and development in the special economic zones and free zones of Oman and Iran.