Historic India-Oman Free Trade Agreement Strengthens Strategic Partnership

India and Oman have signed a historic free trade agreement, enhancing their Comprehensive Economic Partnership Agreement (CEPA) to boost bilateral trade, investment, and cooperation in multiple sectors. The agreement will foster economic growth, create jobs, and strengthen India-Oman ties, promoting regional peace and stability.

On Thursday, India and Oman marked a transformative moment in their bilateral relations by signing a historic free trade agreement. Prime Minister Narendra Modi and Sultan Haitham bin Tarik reviewed the Strategic Partnership between the two nations and emphasized their commitment to ensuring regional peace and stability.

The Comprehensive Economic Partnership Agreement (CEPA) aims to create new opportunities across various sectors while enhancing trade and investment. During their talks, Modi described the pact as a 'new and golden chapter' in India-Oman relations, with the potential to impact both countries positively in the coming decades.

The leaders also adopted a joint vision document on maritime cooperation and condemned terrorism, reaffirming their dedication to regional security. New trade opportunities in textiles, automobiles, and agriculture were acknowledged, while MoUs were signed in Maritime Heritage and Agriculture. Modi's visit coincided with the 70th anniversary of diplomatic relations between the countries.

(With inputs from agencies.)