Reported by HPMM Group according to FINANCIAL TRIBUNE ;     Director General of Kish Free Zone Organization Ebrahim Ansari Lari reviewed economic and banking cooperation with Omani officials.

In his two-day visit to Oman, Lari held meetings with Iran’s envoy to Muscat, officials of National Bank of Oman, Muscat Bank, Bank Dhofar and Alizz Islamic Bank, IRNA reported on Saturday.

Omani officials agreed to open branches on Kish Island, to activate Kish Airlines’ accounts in Omani banks and issue international credit cards for Kish economic activists.

In separate meetings, Lari discussed investment on Kish Island with Omani businessmen.

He also announced that a direct flight between Kish and Muscat will be launched soon.

Kish Free Zone Organization manages operations and affairs defined and approved by the Supreme Council of Free Trade-Industrial Zones.

A container ship that left Iran’s Khorramshar Port last Saturday to mark the official opening of Khorramshahr-Sohar shipping route docked at Omani port on Jan. 4.

“The route between the two neighboring countries is expected to increase bilateral trade to $5 billion in the next four years,” the chairman of Iran-Oman Chamber of Commerce said.

Mohsen Zarrabi added that trade between the two countries rose from $148 million in the fiscal 2013-14 to $540 million in 2016-17.

The official noted that the opening of two other shipping routes, namely Chabahar-Sohar and Bushehr-Sohar, is also on the agenda of the joint chamber.

Sohar Port is a deep-sea port located in Sohar, the capital and largest city of Al Batinah North Governorate midway between Dubai and Muscat.

Latest data show more than 1.96 million tons of oil and non-oil products were loaded and unloaded in Kish Port in the south of Iran during the eight months to Nov. 21, registering a 47% increase compared with the corresponding period of last year.

Non-oil goods accounted for close to 1.7 million tons of the total sum and the rest were oil products.

During the eight-month period, more than 2,000 tons of non-oil and 31,600 tons of oil products were exported and imported from and to Kish Port respectively and about 976,350 tons of non-oil goods were cabotaged in the port. Over 9,960 vessels entered the port during the period, registering an 18% rise compared with the similar period of last year. More than 510 of these vessels weighed over 1,000 tons.

The southern Iranian island enjoys a free trade zone status, meaning production units can benefit from incentives with regard to taxation, trade and customs regulations there.

According to Secretary of High Council of Free Zones Morteza Bank, no one is jobless in Kish Free Trade Zone.