Raeisi, on his second Persian Gulf visit since taking office in August, was greeted by Sultan Haitham bin Tareq at the airport and received a 21-gun salute at the royal palace, an Omani statement said.
The two neighbors signed 12 memoranda of understanding during the visit, including in the fields of oil and gas, transport, education, trade, investment, environment and sports, the official Oman News Agency reported
The documents were inked by Iranian ministers of foreign affairs, industry, oil, roads and urban development and the head of the Trade Promotion Organization and their Omani counterparts.
"Trade exchanges between the two countries of Oman and Iran will improve definitely," Raeisi said before departure, according to IRNA.
"Both countries are determined to upgrade the level of political and economic ties," he added.
A delegation of 50 Iranian businessmen traveled to Oman last week, IRNA said, adding that Iran's minister for roads and urban development has announced plans for a joint shipping line and tourist flights.
Oman is also seeking to import gas from Iran by building an offshore pipeline between the two countries, who are discussing the development of joint gas fields offshore, AFP wrote.
The sultanate, which faces Iran across the Sea of Oman, endured economic pain during the pandemic, with its GDP dropping 6.4 percent in 2020 and government debt soaring. It saw rare protests over high unemployment and lay-offs last year.
Raeisi visited Qatar in February, where he met with Emir Tamim bin Hamad Al Thani and took part in a conference of gas exporting countries.