The Comprehensive Economic Partnership Agreement will be a milestone in bilateral trade, significantly scaling up two-way trade and investments.
India and Oman have agreed to expedite negotiations for the Comprehensive Economic Partnership Agreement (CEPA), which is in advanced stages of discussion, the Ministry of Commerce and Industry announced on Tuesday.
The development follows Commerce and Industry Minister Piyush Goyal’s two-day visit to Oman from January 27-28. The proposed CEPA is expected to be a game-changer, significantly boosting bilateral trade and investments.
Goyal co-chaired the 11th Session of the India-Oman Joint Commission Meeting (JCM) alongside Oman’s Minister of Commerce, Industry, and Investment Promotion, Qais bin Mohammed Al Yousef. Discussions centered on enhancing cooperation in trade, technology, food security, renewable energy, and other key sectors.
The Comprehensive Economic Partnership Agreement will be a milestone in bilateral trade, significantly scaling up two-way trade and investments
As part of the visit, India and Oman signed a protocol to amend the Double Taxation Avoidance Agreement (DTAA), simplifying tax procedures and aligning them with international standards.
Goyal also held high-level bilateral meetings with Oman’s Deputy Prime Minister for International Relations, Sayyid Asaad bin Tarik Al Said, and other senior officials, including Finance Minister Sultan bin Salem Al Habsi and OPAZ Chairman Ali bin Masoud Al Sunaidy.
Additionally, Goyal addressed the India-Oman Joint Business Council meeting, co-hosted by the Oman Chamber of Commerce and Industry and FICCI. He engaged with Omani CEOs and business leaders during a roundtable at the Indian Embassy, highlighting India’s investment opportunities and seeking feedback on enhancing bilateral cooperation.
During a session at the Royal Academy of Management’s Future Leaders Programme, Goyal shared insights on India’s growth story and emphasized the importance of leadership in shaping a better future.
The visit concluded with both sides reaffirming their commitment to strengthening economic and trade relations, with CEPA as a key driver of growth.
