The investment agreement with Oman secures new access for Iranian firms to invest in the Arab country while managers and specialists from Iranian companies will be able to work in Omani subsidiaries for several years without restrictions.
The Iranian economy minister met with visiting Omani commerce minister in Tehran during which they announced their agreement on signing a PTA and joint investment agreement.
A Free Trade Agreement between the Sultanate of Oman and Britain is likely to be entered into by both parties and discussions are currently under way for a region-wide FTA.
The development is taking place at a time when India is set to begin deeper engagements with the Gulf Cooperation Council (GCC) countries towards inking a free trade agreement (FTA).
Oman’s trade minister visit comes amid reports Oman has been keen on an FTA between India and the members of the Gulf Cooperation Council (GCC).
Iran’s minister of trade says the government will pursue an agreement with Oman to allow preferential trade with the Arab country to start in the near future.
Oman is keen to support the ambitions of British investors looking to inject capital in the country in sectors as varied as clean energy, mining, manufacturing, logistics, tourism and fisheries.
India is looking to sign a free trade agreement (FTA) with Oman along with a number of other countries, the country’s Commerce and Industry minister said.
Pakistan will pursue individual trade deals with Saudi Arabia, the United Arab Emirates and Oman, a Pakistani official said on Sunday, as talks with the Gulf Cooperation Council remain stalled.
Visiting Chinese State Councilor and Foreign Minister on Monday held a meeting with his Omani counterpart, during which both sides agreed to enhance bilateral cooperation and push forward the free trade zone talks.
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.