India, Oman set to sign trade agreement
New Delhi, Dec. 18 -- India and Oman are all set to sign a free trade agreement (FTA) today, Muscat's first FTA in about 17 years after it entered into a similar deal with the US, that will further strengthen bilateral strategic ties between the two nations with wider scope ranging from goods, services, investments, green energy and the net-zero.
Jointly addressing the India-Oman Business Forum in Muscat on Wednesday with Oman's trade minister Qais Al Yousef, Union commerce minister Piyush Goyal said, strong ties between the two nations "have been instrumental in bringing us to this very, very memorable and fateful day tomorrow, when before our two leaders, Qais and I will have the privilege of executing the first free trade agreement Oman is going to sign with a country after 17 long years."
The US-Oman FTA came into force on January 1, 2009.
"I'm pleased to confirm that these negotiations have now been successfully concluded," Yousef said, adding that the proposed agreement is in its "final" form. Underlining the India visit of Sultan in 2023, which was his first in 25 years, he said: "That visit launched the partnership for the future frameworks and initiated negotiations on the Oman-India Comprehensive Economic Partnership Agreement, or what is more known as CEPA." Sultan Haitham bin Tarik made a state visit to India in the mid-December that year.
"Our Hon'ble Prime Minister will be arriving here soon to celebrate the 70 years of bilateral relations between the two countries," Goyal said. Oman is the last leg of Prime Minister Narendra Modi's three-day official visit to Jordan, Ethiopia and Oman. PM called them "valued partners" in a post on X while embarking on his three-nation tour on December 15, adding that "India has age-old civilisational ties" with these countries....
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