Boosting Bilateral Ties: India's FTA Talks with Oman

India plans to revisit its free trade agreement (FTA) negotiations with Oman during Commerce and Industry Minister Piyush Goyal’s upcoming visit to Muscat. Although talks concluded earlier, Oman seeks revisions on product market access. The agreement aims to enhance bilateral trade, promote services, and increase investments.

Commerce and Industry Minister Piyush Goyal is set to travel to Muscat next week, where discussions on the proposed free trade agreement (FTA) between India and Oman will take center stage. An official confirms the focus on cooperation during the minister's visit.

Though the agreement's negotiations concluded earlier, Oman has requested updates concerning market access for specific products. The Comprehensive Economic Partnership Agreement (CEPA) seeks to improve economic ties, reduce customs duties, and encourage investment flows between the two nations.

The India-Oman Joint Commission Meeting (JCM) will be a significant platform where these key issues will be addressed. With Oman being India's third-largest export destination within the Gulf Cooperation Council (GCC), the trade agreement is expected to invigorate bilateral trade relations.

(With inputs from agencies.)