India-Oman FTA talks at advanced stage, Piyush Goyal arrives in Muscat for Joint Commission Meeting

MUSCAT: The Comprehensive Economic Partnership Agreement (CEPA) between Oman and India is in the advanced stage as India’s Commerce and Industry Minister Piyush Goyal arrived in Muscat for a two-day visit.

Goyal is in Muscat to attend the 11th Joint Commission Meeting (JCM) between Oman and India. On Monday, he met, His Excellency Qais bin Mohammed Al Yousef, Oman’s Minister of Commerce, Industry and Investment Promotion.

“Our talks focused on advancing negotiations on the Comprehensive Economic Partnership Agreement, strengthening trade and investment ties, and exploring avenues to further deepen our bilateral partnership,” he wrote on X (previously Twitter) soon after the meeting with his Omani counterpart. A business delegation is accompanying Goyal for the Joint Business Council meeting between FICCI and the Oman Chamber of Commerce and Industry.

In 2023-24 India’s trade with Oman was at $8.9 billion, down 27.7% on year. India’s exports stood at $4.2 billion and imports $4.5 billion.

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