Oman: Signing of free-trade accord with US on Thursday

Times of Oman - 14/01/2006

Maqbool: Signing of free-trade accord with US on Thursday

A free-trade agreement between the Sultanate and the United States will be signed next Thursday, said Maqbool bin Ali bin Sultan, commerce and industry minister, yesterday.

The agreement will be beneficial to the Sultanate in terms of opening the door for US investments and the entry of Omani products into the US market without the application of special customs duties, said the minister, who leaves for the US today heading a delegation.

Maqbool will sign the agreement on behalf of the Sultanate’s government. The agreement will have to be approved by the US government and the Congress before it can be referred to the US president for final approval.

Maqbool pointed out that the agreement would be useful to the Sultanate in the fields of technical cooperation, projects finance, training and marketing in addition to cooperation in the petrochemicals and gas-based industries. Maqbool pointed out that the US market is one of the biggest in the world.

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source: Times of Oman