Late 2005, Oman finalised an FTA with the United States, as part of the US’ plan to reach an all encompassing Middle East Free Trade Agreement. It was signed in Washington on 19 January 2006. While the text is still going through the ratification processes, major US corporations are lining up to benefit including Halliburton, Bechtel, Microsoft and Dow Chemical.
The FTA was ratified in June 2006. Companies like Dow Chemical hailed the agreement as it would open doors for them to expand their petrochemical operations in the Sultanate.
The deal entered into force in January 2009 after being delayed supposedly because Oman was dragging its feet on changing domestic laws on telecommunications and software.
last update: May 2012
Photo: octal / CC BY 2.0
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.
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.
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.
His Highness Sayyid Fahd bin Mahmoud Al Said, deputy prime minister for the Council of Ministers, received here yesterday the US ambassador to the Sultanate. Sayyid Fahd welcomed the ambassador and wished him success in his new tasks and relations between the two countries’ progress.
US President George W. Bush signed legislation containing the historic US-Oman Free Trade Agreement (FTA) into law in Washigton yesterday.
The US Senate gave final congressional approval on Tuesday to a free trade agreement with the Gulf Arab state of Oman, sending the bill to President George W Bush to sign into law.
Eng. Salim bin Said Al Ghattami, chairman of Oman Chamber of Commerce and Industry (OCCI), yesterday met the US deputy assistant secretary of trade for international trade affairs, and her accompanying delegation.