Goyal-Qais signed DTAA
The Commerce and Industry Minister Piyush Goyal and his Omani counterpart have agreed to expedite the discussions for an early signing of the India-Oman Comprehensive Economic Partnership Agreement (CEPA), which is under advanced stages of negotiations https://www.commerce.gov.in/.
Goyal and Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion of Sultanate of Oman, agreed that India-Oman CEPA will be a new milestone in bilateral trade relations and has the potential to significantly scale-up two-way trade and investments.
Goyal visited Oman 27-28 Jan, and joined Qais during the signing of a Protocol to amend the India-Oman Double Taxation Avoidance Agreement (DTAA), aligning it with international standards on cross-border taxation, simplifying tax procedures, and promoting greater cooperation in tax matters https://fieo.org/.
Both the ministers also co-chaired the 11th Session of the India-Oman Joint Commission Meeting (JCM). They undertook detailed review of the bilateral trade and economic relations between India and Oman and identified concrete steps to further strengthen the mutually beneficial business ties.
Goyal called-on Sayyid Asa’ad bin Tarik Al Said, Deputy Prime Minister for International Relations and Cooperation Affairs and Special Representative of His Majesty on 28 Jan 2025.
Goyal also held bilateral meetings with Sultan bin Salem Al Habsi, Minister of Finance, and Ali bin Masoud Al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), to deepen economic ties http://dpiit.gov.in.
The Minister participated in the India-Oman Joint Business Council (JBC) meeting which was hosted by the Oman Chamber of Commerce and Industry (OCCI), with support and participation of a delegation from FICCI.
The JBC, which is traditionally held on the sidelines of the India-Oman JCM, provided an excellent platform for wide ranging discussions among the two business communities and provided exposure to investment opportunities and incentives of both India and Oman.
Goyal met with a select group of CEOs and business leaders of Oman at a Business Roundtable hosted by the Ambassador of India at the Indian Embassy premises. This interaction provided an opportunity for the Minister to directly engage with key business leaders of Oman to apprise them of the India opportunity and seek their suggestions for bilateral cooperation.
Minister Goyal also addressed the Future Leaders Programme at the Royal Academy of Management, Oman, highlighting India’s growth story and sharing insights on leadership and its role in shaping a better world. Fiinews.com
