Expanding Oman-Iraq trade cooperation

The visit of Mohammed Shia' Al Sudani, Prime Minister of the Republic of Iraq, to Oman reflects the deepening relations and cooperation between Iraq and the Sultanate of Oman in various fields, particularly the economic sector.

Trade between Oman and Iraq reached more than OMR 239.2 million during the first half of 2025, marking a 1.2% increase compared to the same period in 2024.

According to data released by the National Centre for Statistics and Information, the value of Omani exports to Iraq in the first half of 2025 was approximately OMR 32,8 m, while Omani imports from Iraq totalled OMR 206.4 m.

The statistics also show that the number of visitors from Iraq to Oman during the first seven months of 2025 reached 11,558.

Figures from the Ministry of Commerce, Industry and Investment Promotion show that the number of Iraqi companies investing in Oman during the first half of 2025 stood at 1,304, with a total capital of approximately OMR 94.3 million and an Iraqi contribution rate of more than 68%.

Key Omani exports to Iraq during the first half of 2025 included electrical cables, gold jewellery, and marble, while natural gas, petroleum gas, and propane gas mixtures topped imports from Iraq.

The two countries are linked by several agreements, covering Economic and Trade Cooperation, Air Services, as well as an agreement to establish a free trade zone between the two countries.

For Faisal Alrowas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry (OCCI), the visit by the Iraqi Prime Minister signals Oman and Iraq's joint aspiration to expand economic cooperation and integration, enhancing the role of the private sectors in both countries in strengthening partnerships.

In a statement to Oman News Agency (ONA), he added that the visit represents a significant opportunity to maximise economic and trade relations between the two countries, especially as the private sectors in Oman and Iraq have broad prospects for cooperation and partnership in diverse fields, including energy, mining, petrochemicals, trade, transportation, logistics, tourism, food industries, and agriculture.

He noted that Iraq represents an attractive investment destination, with its “Development Road” project offering numerous integration opportunities. He said he hoped Omani companies will participate in this vital project, which involves international logistics connectivity to link the Gulf to Europe, adding that the project provides significant opportunities for Omani firms specialising in transport and logistics.

Mr Alrowas said that the OCCI is committed to building effective communication between the business communities of both countries to encourage joint investments and knowledge exchange and to diversify income sources and so create new job opportunities. He emphasised that enhancing cooperation between private sector bodies in both countries will serve as a catalyst for building bilateral relations and strengthening historical and fraternal ties.