Blitz Bureau
India and Oman have agreed to expedite the discussions for an early signing of the bilateral Comprehensive Economic Partnership Agreement (CEPA), which is under advanced stages of negotiations, according to a statement issued by the Ministry of Commerce and Industry.
Commerce and Industry Minister Piyush Goyal concluded a successful visit to Oman from January 27- 28. CEPA will be a new milestone in bilateral trade relations and has the potential to significantly scale up two-way trade and investments, the statement said.
During the visit, Goyal co-chaired the 11th Session of the India-Oman Joint Commission Meeting (JCM) with Qais bin Mohammed Al Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion. The JCM saw productive discussions on enhancing bilateral cooperation in trade, investment, technology, food security, renewable energy, and other key areas.
Goyal held a productive bilateral meeting with Minister Yousef during which he undertook a detailed review of the bilateral trade and economic relations between India and Oman and identified concrete steps to further strengthen the mutually beneficial business ties, the statement added.
On the sidelines of the visit, both sides signed the protocol to amend the India-Oman Double Taxation Avoidance Agreement (DTAA), aligning it with international standards on crossborder taxation, simplifying tax procedures, and promoting greater cooperation in tax matters. Goyal also called on Sayyid Asaad bin Tarik Al Said, Deputy Prime Minister for International Relations and Cooperation Affairs and Special Representative of His Majesty on January 28.
