India and Oman Forge Strategic Economic Ties with New Free Trade Agreement

India and Oman have signed a free trade agreement to enhance their strategic partnership, coinciding with the 70th anniversary of diplomatic relations. The Comprehensive Economic Partnership Agreement (CEPA) aims to boost trade, promote investments, and expand cooperation across sectors, further deepening the ties between the two nations.

In a bid to deepen their strategic partnership, India and Oman have inked a landmark free trade agreement, coinciding with the 70th anniversary of their diplomatic ties. The signing, which took place during Prime Minister Narendra Modi's visit to Oman, aims to bolster the economic relationship between the two nations.

The Comprehensive Economic Partnership Agreement (CEPA), signed by Commerce and Industry Minister Piyush Goyal and Oman's Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef, is poised to enhance market access and promote investments. This agreement is expected to strengthen cooperation across key sectors while supporting trade diversification and supply chain resilience in the global economy.

The leaders recognized the CEPA as a significant milestone in bilateral relations, with discussions touching on defense, security, trade, and regional interest. Oman remains an important trade partner for India within the Gulf Cooperation Council, exporting key products like mineral fuels and chemicals to the region.

(With inputs from agencies.)