India and Oman Held Discussion on Trade and Investment

  • On the sidelines of the State Visit of the Sultan of Oman, His Majesty Haitham bin Tarik to India on 16 December 2023.
  • Discussions by Union Minister of Commerce and Industry, Government of India, Mr Piyush Goyal, and Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman, Qais Bin Mohammed Al Yousef.

Key Take-Aways:

  • Expressed satisfaction with the ongoing negotiations for signing an India-Oman Comprehensive Economic Partnership Agreement (CEPA).
  • Discussed the need for a focused approach to enhancing investments in both countries.
  • Invest Oman would launch an India Desk.

India and Oman:

  • Diplomatic relations were established in 1955.
  • Upgraded to strategic partnership in 2008.
  • Bilateral trade grew by 82.64% in 2021-2022 to reach US$ 9.99 billion.
  • In 2022- 2023, it further increased to USD 12.39 billion, more than doubling in the previous two years.
Posted in Current Affairs.