India, Oman to sign free trade agreement soon: Media report

Lhasa: The Indian government is looking to sign a free-trade agreement with Oman shortly and set a standard operating procedure (SOP), which could help further hasten negotiations with other trading partners. Both are critical for the ambitious goal of scaling exports to $2 trillion by 2030 from $776 billion last year, reported Deccan Herald.

As per media report, the Comprehensive Economic Partnership Agreement (CEPA)  between India and Oman is on the verge of being finalized, with the agreement likely to be inked within a few months. It includes cutting or eliminating tariffs on goods like textiles, electronics, and machinery. The two sides are discussing labour mobility as well.

The Ministry of Commerce and Industry has just started working on a uniform SOP to make these negotiations uniform and speedy in the future. The SOP for negotiations will be devised with the inputs and suggestions of all those trade experts and officials who have been part of various trade deals negotiated in the past.


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