India and Oman signed a Comprehensive Economic Partnership Agreement (CEPA) on December 17 during Prime Minister Narendra Modi’s visit to Oman. The agreement aims to reduce trade barriers and foster investment, aiming to strengthen job creation and private sector participation in both nations. This development is part of a broader strategy to bolster supply-chain resilience and investment ties within the Gulf region.
Additionally, a Joint Vision Document on Maritime Cooperation was adopted, highlighting a commitment to enhancing engagement across economic, strategic, and maritime sectors. Both countries identified key areas for trade expansion, including textiles, automobiles, and renewable energy, while pursuing mechanisms for trade in local currencies.
The discussions emphasized energy collaboration, exploring joint investments in exploration and production, as well as renewable energy initiatives, notably green hydrogen. Leaders also agreed to enhance defense cooperation through joint exercises and improved maritime security measures.
In total, seven agreements were signed, covering areas from agriculture to higher education. Both sides expressed gratitude for the contributions of the Indian diaspora in Oman, condemned terrorism, and emphasized their commitment to addressing humanitarian issues, including the situation in Gaza.
Share it now
