Oman and India signed a Comprehensive Economic Partnership Agreement (CEPA) on 18 December during an official two-day visit to Oman by Indian Prime Minister Narendra Modi. The deal offers zero-duty access on 98% of Oman’s export products, and India offered the same on 78% of its products. Bilateral trade between the two countries stands at more than $10bn.
India’s ministry of commerce says Indian sectors that will benefit include textiles, clothing, jewellery, plastics, furniture, agricultural products, pharmaceuticals and automobiles. No mention is made of hydrocarbons, where there is little trade outside of around 2.1mn tons of Oman LNG exports this year. (CONTINUED - 119 WORDS)