Union Minister of Commerce and Industry, Shri Piyush Goyal, completed a successful two-day visit to Oman, aimed at boosting trade and economic ties between the two countries. The visit, from January 27-28, 2025, included key meetings, discussions on trade agreements and interactions with business leaders.
During his visit, Shri Goyal co-chaired the 11th India-Oman Joint Commission Meeting (JCM) with Oman's Minister of Commerce, H.E. Qais bin Mohammed Al Yousef. They discussed ways to strengthen trade, investment, technology, food security and renewable energy partnerships. The ministers reviewed trade relations and identified steps to improve business ties.
A major topic was the nearly finalized India-Oman Comprehensive Economic Partnership Agreement (CEPA). Both ministers agreed to speed up the process of signing this agreement, which will help increase trade and investment between the two nations.
India and Oman also signed an agreement to update their Double Taxation Avoidance Agreement (DTAA), making tax procedures simpler and aligning them with international standards.
Shri Goyal met with His Highness Sayyid Asa’ad bin Tarik Al Said, Oman's Deputy Prime Minister, to discuss strengthening cooperation. He also held talks with Oman's Finance Minister and the Chairman of the Public Authority for Special Economic Zones to explore economic opportunities.
To encourage trade, Shri Goyal attended the India-Oman Joint Business Council (JBC) meeting, organized by the Oman Chamber of Commerce and Industry (OCCI) with support from FICCI. This meeting provided a platform for discussing investment opportunities in both countries.
Shri Goyal also attended a business roundtable at the Indian Embassy in Muscat, where he met top CEOs and business leaders from Oman. They discussed investment prospects and how to boost economic cooperation.
Apart from business, the Minister addressed students at the Future Leaders Programme at the Royal Academy of Management in Oman. He spoke about India’s economic growth and the importance of leadership.
During his visit, Shri Goyal explored Omani culture by visiting the famous Sultan Qaboos Grand Mosque in Muscat. He also planned to visit the historic Shiva Temple in old Muscat, highlighting the strong cultural connections between India and Oman.
This visit played a key role in strengthening the bond between India and Oman, paving the way for better trade, investment, and cultural ties in the future. (PR)