ISDS Case Map
Oman
Oman today expressed disappointment with the slow pace of talks on Free Trade Agreement between India and the Gulf Cooperative Council and asked officials of both sides to take it up on priority.
The United States yesterday reaffirmed its commitment for expanding trade ties between the two nations and implementing the free trade agreement (FTA) as early as possible.
The US-Oman Free Trade Agreement (FTA) is expected to take effect in the first quarter of 2007, offering boundless bilateral trading opportunities, Maqbool bin Ali Sultan, Minister of Commerce and Industry, told the Sultanate's corporate sector yesterday.
The Free Trade Agreement (FTA) between Bahrain and the US has been operational since August 1, and on September 19, the US Congress approved the FTA with Oman, which will come into effect soon. The media coverage of the two deals in the region have been limited to official announcements without pointing out the serious dangers these FTAs pose to the GCC customs union.
His Highness Sayyid Fahd bin Mahmoud Al Said, deputy prime minister for the Council of Ministers, received here yesterday the US ambassador to the Sultanate. Sayyid Fahd welcomed the ambassador and wished him success in his new tasks and relations between the two countries' progress.
US President George W. Bush signed legislation containing the historic US-Oman Free Trade Agreement (FTA) into law in Washigton yesterday.
The US Senate gave final congressional approval on Tuesday to a free trade agreement with the Gulf Arab state of Oman, sending the bill to President George W Bush to sign into law.
Eng. Salim bin Said Al Ghattami, chairman of Oman Chamber of Commerce and Industry (OCCI), yesterday met the US deputy assistant secretary of trade for international trade affairs, and her accompanying delegation.
At issue are commodities as varied as rice, apparel and automobiles, as well as lucrative new markets in banking and other financial services, with potentially billions of dollars in commerce at stake. But for several countries negotiating trade pacts with the US, the outcome may have less to do with economics than with American election-year politics.
Oman today said India and the six-nation Gulf Cooperation Council should create a fast-track mechanism for early completion of negotiations on the proposed Free Trade Agreement to boost economic engagement.
