RIYADH: Trade exchange between Oman and Iraq grew to 239.2 million Omani rials ($622 million) in the first half of 2025, marking a 1.2 percent rise from a year earlier.
Statistics from the National Center for Statistics and Information showed that bilateral trade increased from 156.5 million rials during the same period in 2024, Oman News Agency reported.
Omani exports to Iraq reached 32.8 million rials, while imports from Iraq totaled 206.4 million rials in the first six months of 2025.
The surge in trade underscores deepening economic ties between Muscat and Baghdad, driven by collaborative agreements on trade, transportation, and investment, as well as efforts to diversify their economies away from oil dependency.
Commenting on the strengthening ties, Faisal Al-Rawas, chairman of the Oman Chamber of Commerce and Industry, said Iraqi Prime Minister Mohammed Shia Al-Sudani’s recent visit to Oman reflects the depth of bilateral relations and growing economic cooperation.
“It also demonstrates the two countries’ aspirations to expand the scope of economic cooperation and integration, which enhances the role of the private sectors in both countries in strengthening bridges of partnership,” ONA cited him as saying.
The figures also showed that 11,558 Iraqi visitors traveled to Oman during the first seven months of 2025, underscoring the growing people-to-people exchange.
Meanwhile, the Ministry of Commerce, Industry and Investment Promotion revealed that the number of Iraqi companies investing in Oman reached 1,304 in the first half of 2025, with a combined capital of 94.3 million rials.
Iraqi investment accounted for 68.2 percent of total foreign participation, ONA reported.
Key Omani exports to Iraq during this period included electrical cables, gold jewelry, and marble, while natural gas, petroleum derivatives, and liquefied propane dominated imports from Iraq.
Both countries are bound by several agreements, including deals on economic and trade cooperation, air services, and a free trade zone initiative.
Al-Rawas emphasized that Omani companies benefit from advanced infrastructure, investment incentives, and access to special economic and free zones. Oman’s strategic location, he said, could help Iraqi products reach markets in Asia and Africa.
Highlighting Iraq’s potential, Al-Rawas said the country represents an attractive investment destination, adding that Iraq’s “Development Road” project offers significant opportunities for international logistical integration, linking the Gulf with Europe.
He expressed hope for Omani companies to play a role in the project, particularly in the transport and logistics sectors.
The chamber, he added, is committed to strengthening business partnerships, fostering joint investments, and promoting knowledge exchange to diversify income sources, create jobs, and reinforce the historic and fraternal ties between the two nations.
