Union Minister of Commerce and Industry, Piyush Goyal co-chaired the 11th session of the India-Oman Joint Commission Meeting (JCM) with his Omanian counterpart, Qais bin Mohammed Al Yousef, during his visit to the Middle East from January 27-28.

At the meet, productive discussions on enhancing bilateral cooperation in trade, investment, technology, food security, renewable energy and other key areas were done.

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Minister Goyal held a productive bilateral meeting with Minister Qais during which he undertook a 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.

Significantly, both the ministers exchanged views on a bilateral India-Oman Comprehensive Economic Partnership Agreement (CEPA).

They also both ministers agreed to expedite the discussions for an early signing of the CEPA which will be a new milestone in bilateral trade relations and has the potential to significantly scale-up two-way trade and investments.

During his visit, minister 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.

He was also called-on Sayyid Asa’ad bin Tarik Al Said, Deputy Prime Minister for International Relations and Cooperation Affairs and Special Representative of His Majesty.

During his two-day visit, Minister Goyal participated in the India-Oman Joint Business Council (JBC) meeting hosted by the Oman Chamber of Commerce and Industry (OCCI), with support and participation of a delegation from FICCI.

Goyal met with a select group of CEOs and business leaders of Oman at a Business Roundtable which was hosted by the Ambassador of India at the Indian Embassy premises.

He 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.

Further on the sidelines of the visit, both sides signed the 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.