India-Oman free trade pact talks at advanced stage, says Ambassador Narang

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India-Oman free trade pact talks at advanced stage, says Ambassador Narang - Business Standard

Quick Summary:

Discussions for the proposed free trade agreement (FTA) between India and Oman are at an advanced stage and both sides hope to conclude the pact early, Indian Ambassador to Oman Amit Narang said on Tuesday.

The pact, officially known as the Comprehensive Economic Partnership Agreement (CEPA), is expected to boost Indian exports to the west Asian country by eliminating duties, especially on petroleum products, textiles, electronics, pharmaceuticals, machinery, and iron and steel.

The pact will give a significant push to bilateral trade and investment ties between the two countries, he said.