Piyush Goyal’s Muscat Visit to Strengthen India-Oman Trade Ties
Union Minister of Commerce and Industry, Piyush Goyal, is set to visit Muscat, Oman, for the 11th Joint Commission Meeting (JCM) on January 27-28, 2025, alongside Qais bin Mohammed bin Moosa al-Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion. This visit underscores the strategic significance of India’s trade relations with Oman, a key member of the Gulf Cooperation Council, with trade ties exceeding USD 8.94 billion for 2023-2024.
The visit is expected to feature comprehensive discussions on enhancing trade and investment cooperation as well as addressing the broader global economic climate. A statement from the commerce ministry indicated that talks on the India-Oman Comprehensive Economic Partnership Agreement (CEPA), currently in advanced stages, are likely to gain momentum during the meetings.
India and Oman are both working towards a commercially viable, fair, and mutually beneficial CEPA. Alongside the minister, a business delegation will participate in the Joint Business Council meeting between FICCI and the Oman Chamber of Commerce and Industry. Minister Goyal is also expected to meet with prominent figures, including Sultan bin Salim Al Habsi, Oman's Minister of Finance, and Sheikh Dr. Ali bin Masoud Al Sunaidy, head of OPAZ, as well as engage with Omani industry leaders and the Indian community.