11th India-Oman Joint Commission Meeting Concludes With Progress On CEPA And Investment

ENA Global 2025-01-29 16:42:10 New Delhi, Jan 29 (KNN) Union Minister of Commerce and Industry, Piyush Goyal, completed a significant two-day diplomatic visit to the Sultanate of Oman on January 28, 2025, marking substantial progress in bilateral economic relations between the two nations. The centrepiece of the visit was the 11th Session of the India-Oman Joint Commission Meeting (JCM), which Goyal co-chaired with Oman's Minister of Commerce, Industry, and Investment Promotion, H.E. Qais bin Mohammed Al Yousef, focusing on strengthening cooperation across various sectors including trade, investment, and renewable energy. A key development during the visit was the advancement of discussions on the bilateral Comprehensive Economic Partnership Agreement (CEPA), which both ministers agreed to expedite. The agreement, currently in advanced stages of negotiations, is expected to enhance trade and investment between the two countries. Additionally, both nations signed a protocol amending the India-Oman Double Taxation Avoidance Agreement (DTAA), aimed at streamlining cross-border taxation procedures and enhancing tax cooperation. Minister Goyal's diplomatic engagements included a high-level meeting with His Highness Sayyid Asa'ad bin Tarik Al Said, Oman's Deputy Prime Minister for International Relations and Cooperation Affairs. The minister also held productive discussions with Oman's Finance Minister, H.E. Sultan bin Salem Al Habsi, and OPAZ Chairman, H.E. Ali bin Masoud Al Sunaidy, furthering economic collaboration between the nations. The visit featured significant business engagement through the India-Oman Joint Business Council meeting, hosted by the Oman Chamber of Commerce and Industry with support from FICCI. Minister Goyal also participated in a Business Roundtable with prominent Omani CEOs and business leaders at the Indian Embassy, exploring investment opportunities and strengthening commercial ties. In an effort to engage with future leaders, the minister addressed students at the Royal Academy of Management, sharing insights on India's economic growth and leadership principles. Highlighting the cultural dimensions of Indo-Oman relations, Minister Goyal visited the Sultan Qaboos Grand Mosque in Muscat and the historic Shiva Temple, underscoring the deep-rooted cultural bonds between the two nations. The visit concluded successfully, reinforcing the strong foundation of India-Oman relations and setting the stage for enhanced bilateral cooperation in the years ahead. (KNN Bureau) 40831 https://knnindia.co.in/news/newsdetails/global/11th-india-oman-joint-commission-meeting-concludes-with-progress-on-cepa-and-investment 2025-01-29 16:42:10 knnindia.co.in 11th India-Oman Joint Commission Meeting Concludes With Progress On CEPA And Investment