INDIA-OMAN CEPA OPENS NEW AVENUES IN TRADE, MOBILITY, INVESTMENT:GOYAL

Goyal described the agreement as strategically important for India's long-term economic and geopolitical interests.

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Commerce and Industry Minister Piyush Goyal on Friday said the India-Oman Comprehensive Economic Partnership Agreement (CEPA) marks a major shift in India’s trade engagement and will significantly deepen bilateral ties.

Quoting Prime Minister Narendra Modi, in whose presence the trade agreement was signed yesterday in Oman, Goyal said that the prime minister rightly stated that the India-Oman Comprehensive Economic Partnership Agreement (CEPA) will energise bilateral engagement for the 21st century. Goyal described the agreement as strategically important for India’s long-term economic and geopolitical interests.

Highlighting Oman's position in the Gulf Cooperation Council (GCC), the commerce minister noted that India is only the second country with which Muscat has signed a Free Trade Agreement. “Oman is a member of the GCC and had earlier signed a Free Trade Agreement with the United States in 2006. After nearly 20 years, Oman has chosen India as only the second country for such an agreement,” Goyal said.