Muscat

As India and Oman prepare to sign a Comprehensive Economic Partnership Agreement (CEPA), Oman’s Minister of Commerce, Industry and Investment Promotion, Qais bin Mohammed Al Yousef, on Thursday said the two countries share historic trade relations rooted deeply in heritage and mutual cooperation.

Speaking at the India-Oman Business Forum, Al Yousef welcomed the Indian delegation and said their presence reflected the growing engagement between the two nations.

“I would like to extend a warm welcome to the Indian delegation. We feel proud to have you here,” he said, adding that India and Oman have long shared close economic and cultural ties. “This partnership is rich in our deep heritage as well as our shared future,” he noted.

External Affairs Minister S Jaishankar, Commerce and Industry Minister Piyush Goyal, and National Security Advisor Ajit Doval were among those present at the forum.

Prime Minister Narendra Modi also addressed the gathering, highlighting the wide-ranging reforms undertaken by India over the past 11 years that have transformed the country into one of the world’s most competitive markets.

“Over the past 11 years, India has not just changed policies, India has changed its economic DNA,” PM Modi said, underlining key initiatives such as the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code.

“GST transformed India into one integrated market, while the Insolvency and Bankruptcy Code brought financial discipline, promoted transparency and strengthened investor confidence,” he said.

Emphasising the importance of CEPA, the Prime Minister said the agreement would provide new confidence and momentum to the India-Oman partnership, opening fresh avenues for trade and investment.

PM Modi arrived in Muscat on Wednesday on a two-day visit, the final leg of his three-nation tour after Jordan and Ethiopia. He was welcomed at the airport by Oman’s Deputy Prime Minister for Defence Affairs, Sayyid Shihab bin Tariq Al Said, and accorded a guard of honour.

The visit, taking place at the invitation of Sultan Haitham bin Tarik, is expected to focus on strengthening the India-Oman Strategic Partnership, with particular emphasis on economic and commercial cooperation.

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Oman’s Ambassador to India, Sheikh Humaid bin Ali bin Sultan Al-Mani, told ANI that the visit marks an important milestone as the two countries celebrate 70 years of diplomatic relations this year, noting that the timing of the visit adds significance to ongoing bilateral engagement.