New delhi [India] Negotiations for a complete alternate deal among india and oman, which began in 2023, have been concluded.
"India-Oman CEPA negotiations were concluded," minister of country for commerce and industry Jitin Prasada informed rajya sabha in a written respond this week whilst responding to a question from congress member Hebi Mather Hisham relating to India's trade deals.
India and oman proportion a longstanding records of friendship and cooperation, built on the muse of mutual accept as true with and respect, and strong people-to-people ties going returned centuries.
the two nations are strategic companions, and the bilateral alternate and investment relationship between them has flourished seeing that diplomatic members of the family have been installed in 1955, which changed into upgraded to a strategic partnership in 2008.
The minister, in his respond, however, did not mention any date or timeline at the anticipated signing ceremony for the India-Oman comprehensive monetary Partnership settlement.
in addition, the minister apprised the higher residence that india has bolstered its alternate ties during the last 5 years, signing 5 major loose exchange Agreements (FTAs) and progressing on numerous new offers.
Congress member Jebi Mather Hisham requested the minister to apprise the house about the number of international change agreements which have been signed with the aid of india within the ultimate 5 years, except info of their implementation.
The agreements inked over the past five years include the India-Mauritius comprehensive financial Cooperation and Partnership settlement (CECPA) applied in 2021, the India-UAE complete financial Partnership settlement (CEPA) and the India-Australia monetary Cooperation and alternate agreement (ECTA) in 2022, the India-eu loose trade affiliation (EFTA) trade and financial Partnership settlement (TEPA) in 2024, and the India-uk comprehensive economic and alternate agreement (CETA) signed in 2025, that's but to return into pressure.
The India-eu Union free alternate association (EFTA) exchange and monetary Partnership settlement (TEPA) is expected to be carried out later this 12 months as soon as all parties whole their ratification methods.
in the meantime, india is in talks for numerous other agreements, along with the India-european FTA, India-Australia comprehensive financial Cooperation agreement (CECA), India-Sri Lanka monetary and generation Cooperation settlement, India-Peru FTA, India-Chile CEPA, India-New Zealand FTA, and a bilateral exchange agreement with america.
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