India, Oman sign CEPA, boost maritime, trade, energy and cultural ties: Joint statement

India and Oman on Thursday signed a Comprehensive Economic Partnership Agreement (CEPA) during Prime Minister Narendra Modi’s official visit to the Sultanate on December 17–18, the Ministry of External Affairs said in a joint statement.

In addition to the trade pact, the two sides adopted a Joint Vision Document on Maritime Cooperation, reflecting a shared commitment to strengthening cooperation across economic, strategic and maritime areas.

The joint statement said the CEPA is designed to reduce trade barriers and establish a stable and predictable framework for expanding trade and investment. The agreement is also expected to support job creation and promote greater participation by the private sector in both countries’ economies.

India and Oman also reviewed opportunities to diversify bilateral trade, identifying sectors such as textiles, automobiles, chemicals, equipment and fertilisers as key areas for expansion.

The two sides also took note of ongoing discussions on mechanisms to facilitate trade in local currencies. Both sides discussed ways to enhance their bilateral partnership in the energy sector. While expressing satisfaction at the bilateral energy trade, they agreed that there is vast potential to further enhance it.

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Both the country expressed keenness for supporting their companies to increase energy cooperation including collaboration in Indian as well as global E&P opportunities, new and renewable energy cooperation in the areas of Green Ammonia and Green Hydrogen. Both sides acknowledged the synergies with its sustainable energy goals and proposed joint investments, technology transfer and long-term collaboration.

India and Oman also commended the deepening cooperation in the defence sector and agreed to continue working together in this regard, including joint exercises, training and high-level visits to achieve shared goals and contribute towards maintaining regional security and stability. They also agreed to undertake joint initiatives to prevent maritime crimes and piracy by enhancing maritime domain awareness and facilitating continued information exchange.

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“Both sides reaffirmed their commitment to agricultural cooperation and welcomed the signing of MoU in the area of agriculture and allied sectors to advance collaboration in agricultural science, animal husbandry and aquaculture.

Both sides further agreed to enhance cooperation in millet cultivation through training and scientific exchanges. Both sides noted their growing cooperation in technology, including IT services, Digital Infrastructure and space applications,” the statement read.

“They welcomed the MoU on Maritime Heritage and Museums, enabling collaboration between museums, including through joint exhibitions and research. They also noted the upcoming maiden voyage of INSV Kaundinya, to Oman highlighting our shared maritime traditions.”

Acknowledging centuries old people-to-people ties which remain a cornerstone of the Oman-India relationship, Indian side conveyed its deep appreciation to the leadership of Oman for ensuring the welfare and well-being of the vibrant Indian community of around 675,000 residing in Oman.

Omani side recognised the valued contributions of the Indian diaspora to Oman’s development. “The two sides exchanged views on regional and international issues of mutual interest. The two leaders condemned terrorism in all its forms and manifestations, reaffirming that no justification can ever be accepted for such acts,” it said.

“The two sides expressed concern over the humanitarian situation in Gaza and called for safe and timely delivery of humanitarian aid to civilians. They welcomed the signing of the first phase of Gaza Peace Plan and reiterated their support for the plan.”

“They also reaffirmed their support for efforts to restore peace and stability and underlined the need for a just and lasting resolution through dialogue and diplomacy, including the establishment of a sovereign and independent Palestinian state.”