India and Oman are set to sign the Comprehensive Economic Partnership Agreement (CEPA) “very soon” with both nations eyeing diversification of their trade basket to include more commodities and exchange of services, the country’s Ambassador to India Issa Saleh Abdullah Saleh Alshibani said.
In an interview to PTI, Oman’s Ambassador to India said negotiations have concluded and currently the legislative and administrative processes are in motion.
“Hopefully… we will reach a stage of signature very soon,” he said in response to a question related to the expected timeline for signing of the agreement.
Talks for the agreement, officially termed as CEPA, formally began in November 2023.
In such agreements, two trading partners significantly reduce or eliminate customs duties on a maximum number of goods traded between them.
They also ease norms to promote trade in services and attract investments.
On the impact in terms of bilateral trade after signing of the CEPA, the Oman Ambassad
