India, Oman sign landmark FTA to boost strategic ties
Muscat: India and Oman signed a free trade agreement on Thursday as Prime Minister Narendra Modi held discussions with Sultan Haitham bin Tarik to deepen the bilateral strategic partnership.
Modi, wrapping up his three-nation tour after arriving in Oman on Wednesday, received a warm welcome from Sultan Haitham at Al Baraka Palace in Muscat ahead of the bilateral talks.
The leaders reviewed avenues to infuse greater substance into the India-Oman Strategic Partnership, Ministry of External Affairs Spokesperson Randhir Jaiswal said.
“Both leaders exchanged views on a broad range of topics, including defence, security, trade & investment, energy, agriculture, technology, new and emerging areas, culture and people-to-people ties, among others. They also discussed issues of regional and global interest,” Jaiswal noted. They hailed the 70th anniversary of diplomatic relations as a pivotal moment in bilateral ties.
The two leaders celebrated the inking of the Comprehensive Economic Partnership Agreement (CEPA) as a landmark, stating it would markedly fortify the India-Oman strategic partnership.
Commerce and Industry Minister Piyush Goyal and Oman’s Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef signed the CEPA, which aims to widen market access, spur investments, and deepen collaboration in critical sectors. It will aid trade diversification and supply chain robustness amid shifting global economics.
