India and Oman are making significant progress in their negotiations for a Comprehensive Economic Partnership Agreement (CEPA). The proposed free trade agreement aims to boost bilateral trade and investment between the two countries.
Indian Ambassador to Oman, Amit Narang, expressed optimism about concluding the CEPA soon. The agreement is expected to have a positive impact on Indian exports to Oman, particularly in sectors such as petroleum products, textiles, electronics, pharmaceuticals, machinery, and iron and steel.
By eliminating duties on these products, the CEPA will make Indian goods more competitive in the Omani market, leading to increased trade and economic growth for both countries. The agreement also has the potential to strengthen bilateral relations and foster cooperation in other areas.