Piyush Goyal’s Oman Visit Aims to Strengthen Trade and Advance CEPA Negotiations
New Delhi, January 27: Commerce Minister Piyush Goyal is currently in Oman for a two-day visit focused on strengthening India-Oman trade relations and advancing the Comprehensive Economic Partnership Agreement (CEPA) negotiations. Goyal commenced his visit with an “engaging and excellent” meeting with Oman’s Minister of Commerce, Industry, and Investment Promotion, Qais bin Mohammed Al Yousef.
On his official social media, Goyal expressed optimism about the discussions, stating that they centered on enhancing trade and investment ties between the two nations. He also highlighted the intention to explore further avenues for deepening the bilateral partnership. In anticipation of the 11th Joint Commission Meeting (JCM), which will take place from January 27-28, Goyal noted that the talks would focus on “advancing CEPA negotiations and strengthening economic cooperation.”
India views Oman as a key partner in the Gulf Cooperation Council (GCC), with bilateral trade surpassing USD 8.94 billion in 2023-2024. As part of the ongoing effort to enhance these ties, the two countries are in the advanced stages of negotiating the CEPA. The agreement aims to create a commercially significant, balanced, and mutually beneficial framework that will bolster trade and investment across multiple sectors.
During his visit, Goyal is accompanied by a business delegation that will participate in the Joint Business Council meeting between the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Oman Chamber of Commerce and Industry. The discussions are expected to cover a range of topics, including the global economic landscape and investment opportunities.
In addition to his meetings with Qais bin Mohammed Al Yousef, Goyal is scheduled to meet with other prominent Omani officials, including Sultan bin Salim Al Habsi, Minister of Finance and Chairperson of the Ministerial Committee for CEPA, and Sheikh Dr. Ali bin Masoud Al Sunaidy, President of the Public Authority for Special Economic Zones and Free Zones (OPAZ). These interactions aim to further strengthen economic ties and explore new areas for collaboration.
Goyal’s visit underscores India’s commitment to enhancing its relations with Oman and advancing economic partnerships in the region. The progress made during the trip is expected to contribute significantly to fostering long-term, mutually beneficial ties between the two nations.
