ISDS Case Map
Oman
The Free Trade Agreement between Oman and the US will help open up a world of opportunities to the sultanate’s products and services and boost foreign investment into the country, said speakers at a seminar held by the Muscat Chapter of the Institute of Chartered Accountants of India.
India and Oman are in the final stages of setting up a $100-million fund that will be utilised in development and infrastructure projects in both nations. To boost trade relations with Oman and other Gulf nations, Oman has urged India to sign a Free Trade Agreement (FTA) with the six-member Gulf Cooperation Council (GCC).
New Year day (1 January 2009) marked the entry into force of the Oman-US Free Trade Agreement
The United States said Monday that a free trade agreement with oil-rich Oman will enter into force on January 1 2009.
The two major areas holding up the implementation of the FTA are the liberalisation of the telecom sector and policy changes changes in the Sultanate's software policy.
India has clinched labour agreements with Malaysia, Oman and Bahrain for protection and welfare of Indian emigrants in these countries.
Commerce and Industry Minister Maqbool bin Ali Sultan received here yesterday the European Union parliamentary delegation and briefed them on the Omani economy and the Sultanate's future projects.
The Investment Guarantee Agreement between the two countries is expected to give businesses greater confidence and protection when investing. It will also help in the free trade agreement talks between Singapore and the Gulf Cooperation Council (GCC).
Ministers from India and Oman offered different views on the progress of free-trade talks between India and Gulf countries, although both officials yesterday said a deal was achievable.
Serious differences surfaced between commerce minister Kamal Nath and Oman commerce minister Maqbool Ali Sultan on Tuesday over the free trade agreement (FTA) between India and GCC countries.
