Oman to push PTA with India to boost ties with Gulf

Oman’s Minister of Commerce and Industry and Investment Promotion is eyeing to push the Preferential Trade Agreement (PTA) close on the heels of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) opening up possibilities for India in the resource-rich Gulf region. The Oman Minister intends to highlight the importance of a strategic partnership in the Indian Ocean Region. Oman has potential in many industries such as tourism, fisheries, logistics, mining and manufacturing, and vigorously promotes foreign direct investment, using the proceeds from oil and gas to develop Indian infrastructure and human resources.