ENA Global 2025-06-03 17:05:32 <p><span style="font-size:14px"><strong>New Delhi, Jun 3 (KNN) </strong>India is approaching the final stages of negotiating a Free Trade Agreement with Oman, according to Commerce and Industry Minister Piyush Goyal, who suggested that an official announcement could be imminent.</span></p> <p><span style="font-size:14px">The anticipated agreement is projected to substantially enhance trade and investment relationships between the two nations.</span></p> <p><span style="font-size:14px">Speaking to reporters during his current official visit to France, where he is advancing Indian commercial interests, Goyal stated that positive developments regarding the Oman FTA would be announced shortly.</span></p> <p><span style="font-size:14px">The minister is also set to participate in a World Trade Organisation ministerial meeting scheduled for Tuesday.</span></p> <p><span style="font-size:14px">The India-Oman Comprehensive Economic Partnership Agreement negotiations commenced in November 2023.</span></p> <p><span style="font-size:14px">A significant milestone in the discussions occurred during Goyal's visit to Oman in late January 2025, where he participated in the 11th session of the India-Oman Joint Commission Meeting alongside Qais bin Mohammed Al Yousef, Oman's Minister of Commerce, Industry, and Investment Promotion.</span></p> <p><span style="font-size:14px">The high-level bilateral meeting encompassed comprehensive discussions on multiple areas of cooperation, including trade, investment, technology, food security, and renewable energy initiatives.</span></p> <p><span style="font-size:14px">Both ministers conducted a thorough review of existing bilateral relations and reached a consensus to expedite the CEPA negotiations with the objective of finalising the agreement as quickly as possible.</span></p> <p><span style="font-size:14px">Government officials have characterised the CEPA as a potentially transformative development in India-Oman diplomatic and economic relations, emphasising its capacity to significantly expand bilateral trade volumes and investment flows between the two countries.</span></p> <p><span style="font-size:14px">Oman currently ranks as India's third-largest export market within the Gulf Cooperation Council region. Bilateral trade figures for 2024-25 reached approximately USD 10.5 billion, comprising USD 4 billion in Indian exports and USD 6.54 billion in imports from Oman.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 42309 https://knnindia.co.in/news/newsdetails/global/india-nearing-finalisation-of-free-trade-agreement-with-oman-piyush-goyal 2025-06-03 17:05:32 knnindia.co.in