Tehran, Iran – The Sultanate of Oman and the Islamic Republic of Iran signed two memoranda of understanding (MoUs) and two cooperation agreements at Saadabad Palace in Tehran in a bid to enhance development and investments between the two countries.

The two MoUs deal with promoting investments, enhancing investment opportunities, and boosting development and investments in economic and free zones.

The two agreements deal with exchanging oil information and a joint study on the Hengam-Bakha field project.

The first MoU was signed by H E Qais Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion, and Ehsan Khandozi, Iran’s Minister of Economic and Financial Affairs.

The second MoU was signed by H E Yousef and Hojatollah Abdolmaleki, Adviser to the Iranian President and Secretary of the High Council for Free Zones.

The two agreements were inked by H E Salim Nasser al Aufi, Minister of Energy and Minerals, and Ali Akbar Mehrabian, Iran’s Minister of Energy.

The signing ceremonies were attended by the official delegations from both sides.