The Oman India Business Forum, organised in Muscat by the Oman Chamber of Commerce and Industry, explored opportunities arising from the Comprehensive Economic Partnership Agreement (CEPA) between the Sultanate of Oman and the Republic of India.

The Forum discussed how the agreement can support economic diversification, strengthen trade, enhance the competitiveness of Omani companies and create new opportunities for Oman’s private sector.

Faisal bin Abdullah Al Rawas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry (OCCI), said that the CEPA provides a fundamental foundation for elevating Oman India relations to higher levels of cooperation and partnership while strengthening trade and investment between the two friendly countries.

He added that the agreement offers the private sector in both countries significant opportunities to increase exports, access new markets and establish investment partnerships across a number of promising sectors by benefiting from the preferential advantages provided by the agreement as well as Oman’s strategic location, logistics infrastructure and economic and free zones.

Engineer Said bin Ali Al Abri, a member of the Board of Directors of the OCCI and Chairman of the Chamber’s branch in North Al Batinah Governorate, said that Oman India economic relations are now governed by the CEPA.

Prashant Pise, Ambassador of the Republic of India to the Sultanate of Oman, said the CEPA marks a new phase in Oman India economic and trade relations.

He added that the agreement provides a broad framework for strengthening trade and investment and creates new opportunities for the private sector in both countries.

An accompanying exhibition, held on the sidelines of the Forum, showcased products and services that reflect the diverse areas of economic cooperation between Oman and India.

The Forum saw meetings between business leaders and representatives of companies and institutions from both countries. The meetings explored opportunities for cooperation and partnership, areas for joint investment, prospects for new projects and ways to expand existing businesses.

The meetings focused on advantages available in Oman and India and ways to benefit from the CEPA. Discussions also explored how the agreement could help strengthen trade and investment and open new channels for the private sector, particularly in priority economic sectors.