Oman and India to boost trade and economic activities

Oman and India have further reinforced their bilateral ties at the ongoing 7th edition of the India-Oman Joint Commission meeting taking place in India. The Minsters of Commerce and Industry of both countries namely, Nirmala Sitharaman of India and Ali bin Masoud al Sunaidy of Oman, have graced the event with their presence. Economic, commercial and trade between the two countries were discussed by the two ministers.

oman-india-cooperationAn official statement released after the meeting between the ministers highlighted that they “discussed bilateral economic and commercial matters of mutual interest and discussed ways to increase the bilateral trade and investment linkages between the two countries.” Trade between the two countries has been expanding and Minister Sunaidy stated that it has increased by more than 55% between 2012 and 2013.

India’s Minister, Sitharaman was optimistic after the meeting with his Omani counterpart. She said the meeting “has only reinforced the possibilities which exist immensely” as “there is a scope for immense interaction and greater engagement with Oman.” A lot of new ventures have been earmarked for the economic activities of the two countries, she concluded.

Minister Sunaidy acknowledged Sitharaman aspirations as he pointed out that they had “a very good discussion” after two days of constructive meetings and hopes that the remaining two days will continue on the same path.

India has already confirmed that it will send a delegation to Oman in December to follow up with the agreements made at the meeting. India wants to increase its cooperation with Oman as it prepares for further trade negotiations with the Gulf Cooperation Council.

Sunaidy said Oman foresees “India as a very close partner as it has always been” and called for “more innovative ideas for more business in the future.”

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