Both sides also agreed to expedite their internal procedures for signing and ratification of the Protocol amending India-Oman Double Taxation Agreement and conclusion of the India-Oman Bilateral Investment Treaty.
Livestock farmers have requested the Centre to include egg exports from India in the free trade bilateral agreement with Oman, which is expected during the visit of Prime Minister to Oman this month.
Iran is ready to establish preferential tariffs and free trade with some regional countries, particularly Afghanistan, Pakistan and Oman.
Oman and the European Union (EU) are seeking to boost bilateral trade and investment by providing increased opportunities to the business communities on both sides to trade and exchange information.
Eng. Ahmad bin Hassan Al Dheeb, Commerce and Industry Ministry undersecretary for Commerce and Industry said that the council of ministers’ assignment of the ministry to prepare tables that identify the Sultanate’s commitments towards World Trade Organisation (WTO) and Free Trade Agreements (FTAs) came to enlighten private sector companies and establishments and the public on the benefits, advantages and disadvantages of those conventions.
Aiming to explore further trade and investment opportunities in many areas, the Sultanate will host the first GCC-Asean Business Forum in February next year.
The Free Trade Agreement between Oman and the US will help open up a world of opportunities to the sultanate’s products and services and boost foreign investment into the country, said speakers at a seminar held by the Muscat Chapter of the Institute of Chartered Accountants of India.
India and Oman are in the final stages of setting up a $100-million fund that will be utilised in development and infrastructure projects in both nations. To boost trade relations with Oman and other Gulf nations, Oman has urged India to sign a Free Trade Agreement (FTA) with the six-member Gulf Cooperation Council (GCC).
New Year day (1 January 2009) marked the entry into force of the Oman-US Free Trade Agreement
The United States said Monday that a free trade agreement with oil-rich Oman will enter into force on January 1 2009.
The two major areas holding up the implementation of the FTA are the liberalisation of the telecom sector and policy changes changes in the Sultanate’s software policy.
India has clinched labour agreements with Malaysia, Oman and Bahrain for protection and welfare of Indian emigrants in these countries.
Commerce and Industry Minister Maqbool bin Ali Sultan received here yesterday the European Union parliamentary delegation and briefed them on the Omani economy and the Sultanate’s future projects.
The Investment Guarantee Agreement between the two countries is expected to give businesses greater confidence and protection when investing. It will also help in the free trade agreement talks between Singapore and the Gulf Cooperation Council (GCC).
Ministers from India and Oman offered different views on the progress of free-trade talks between India and Gulf countries, although both officials yesterday said a deal was achievable.
Serious differences surfaced between commerce minister Kamal Nath and Oman commerce minister Maqbool Ali Sultan on Tuesday over the free trade agreement (FTA) between India and GCC countries.
Oman today expressed disappointment with the slow pace of talks on Free Trade Agreement between India and the Gulf Cooperative Council and asked officials of both sides to take it up on priority.
The United States yesterday reaffirmed its commitment for expanding trade ties between the two nations and implementing the free trade agreement (FTA) as early as possible.
The US-Oman Free Trade Agreement (FTA) is expected to take effect in the first quarter of 2007, offering boundless bilateral trading opportunities, Maqbool bin Ali Sultan, Minister of Commerce and Industry, told the Sultanate’s corporate sector yesterday.
The Free Trade Agreement (FTA) between Bahrain and the US has been operational since August 1, and on September 19, the US Congress approved the FTA with Oman, which will come into effect soon. The media coverage of the two deals in the region have been limited to official announcements without pointing out the serious dangers these FTAs pose to the GCC customs union.