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Landmark Economic Pact: India and Oman Sign CEPA to Unlock New Trade Opportunities

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Prime Minister Narendra Modi’s visit to Oman was very significant, especially when both friendly Nations are marking the 70th Anniversary of the establishment of diplomatic relations between them. The Prime Minister, who paid an official visit to Oman at the invitation of Sultan Haitham bin Tarik, the Sultan of Oman, was conferred with the ‘Order of Oman’ award by the Sultan for Mr Modi’s exceptional contribution to India-Oman ties and his visionary leadership.
During the visit, the Comprehensive Economic Partnership Agreement (CEPA) was signed, which will open doors for overall development and trade in various sectors for both countries. Affirming that it would significantly strengthen India-Oman strategic partnership, the two sides also signed 6 agreements and MoUs in the fields of maritime cooperation, higher education, agriculture, millet cultivation and an MoU between the Oman Chamber of Commerce & Industry and Confederation of Indian Industry as well.
In the India-Oman joint statement, both leaders expressed satisfaction at the excellent state of bilateral relations, spanning trade, investment, defence, security, technology, education and people-to-people ties. They also reviewed the ongoing initiatives and cooperation in the areas identified in the Joint Vision Document, adopted during the visit of the Sultan of Oman to India in December 2023. The Indian side expressed admiration for the economic diversification and sustainable development achieved by Oman under its Vision 2040. The Omani side commended India for its sustained economic growth and the goal of Viksit Bharat.
The two leaders condemned terrorism as well in all its forms and manifestations, reaffirming that no justification can ever be accepted for such acts. They underlined the importance of continued cooperation in this area. Both sides also expressed concern over the humanitarian situation in Gaza and called for safe and timely delivery of humanitarian aid to civilians. They welcomed the signing of the first phase of the Gaza Peace Plan and reiterated their support for it.

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