New Delhi, India – India’s Union Minister of Commerce and Industry, Piyush Goyal, will visit Muscat for the 11th Joint Commission Meeting (JCM) with his counterpart, H E Qais bin Mohammed al Yousef, Oman’s Minister of Commerce, Industry and Investment Promotion, from January 27-28 2025.

A business delegation will accompany the minister for the Joint Business Council meeting between India’s FICCI and the Oman Chamber of Commerce and Industry.

This visit underscores the importance India attaches to its trade and investment relations with Oman, one of its key trading partners in the GCC, with bilateral trade estimated at over $8.94bn in the Indian fiscal year 2023-2024.

During the visit, the two leaders are expected to hold wide-ranging discussions on trade and investment, as well as the global economic situation, India’s Ministry of Commerce said in a statement.

Talks on the India-Oman free trade agreement, referred to as the Comprehensive Economic Partnership Agreement (CEPA), which are already at an advanced stage, are likely to receive further impetus during the visit, the ministry added. Both sides are negotiating and exploring a commercially significant, balanced, equitable, ambitious, and mutually beneficial CEPA.

On the sidelines, the minister is also expected to meet H E Sultan bin Salim al Habsi, Oman’s Minister of Finance and Chairperson of the Ministerial Committee for CEPA, H E Sheikh Dr. Ali bin Masoud al Sunaidy, President of the Public Authority for Special Economic Zones and Free Zones (OPAZ), as well as hold discussions with representatives from Omani industry and the Indian community.

ANI