Union Minister Piyush Goyal to Strengthen India-Oman Trade Ties in Muscat Visit

GG News Bureau
New Delhi, 26th Jan. Union Minister of Commerce and Industry Piyush Goyal is set to visit Muscat, Oman, from January 27-28, 2025, to participate in the 11th Joint Commission Meeting (JCM) alongside Qais bin Mohammed bin Moosa al-Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion. The visit highlights India’s commitment to enhancing trade and investment ties with Oman, a key trading partner in the Gulf Cooperation Council (GCC), with bilateral trade reaching $8.94 billion in 2023-2024.

Discussions during the visit will encompass wide-ranging issues, including trade, investment, and the global economic outlook. Talks on the India-Oman Comprehensive Economic Partnership Agreement (CEPA), currently in advanced stages, are expected to gain momentum. The proposed CEPA aims to establish a commercially significant, equitable, and mutually beneficial framework for both nations.

Accompanying Goyal is a business delegation participating in a Joint Business Council meeting organized by FICCI and the Oman Chamber of Commerce and Industry.

The Minister will also hold meetings with senior Omani officials, including Sultan bin Salim Al Habsi, Minister of Finance, and Sheikh Dr. Ali bin Masoud Al Sunaidy, President of the Public Authority for Special Economic Zones and Free Zones (OPAZ). Interactions with industry representatives and members of the Indian community in Oman are also on the agenda.

This visit is expected to further bolster India-Oman economic relations and explore new avenues for collaboration.