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India, Oman in talks for comprehensive economic partnership agreement

  • Published
    18th Dec, 2023
Context

Sultan Haitham bin Tarik is on his first visit to India since becoming Oman’s head of State in 2020.

Key Highlights

Bilateral Engagement: Talks at the Hyderabad House covered discussions on the Israel-Palestine situation, reflecting India's close monitoring of the Gaza conflict.

Agreements and Initiatives:

  • Five documents were signed, including an anti-money laundering agreement between India's Financial Intelligence Unit and Oman's National Centre for Financial Information.
  • A proposal to recreate a maritime voyage from Mandvi, Gujarat, to Muscat in 2025-26 was embraced as a celebration of the historical ties between the two nations.

Counterterrorism Cooperation:

  • Prime Minister Modi and Sultan Haitham bin Tarik strongly condemned terrorism, emphasizing their commitment to combat it in all forms.
  • The Joint Statement highlighted the importance of universal values like peace, moderation, coexistence, and tolerance.

Vision Document: The leaders endorsed a vision document titled 'A Joint Partnership For The Future,' focusing on sectors such as digital connectivity, medical tourism, maritime security, hospitality, agriculture, and food security.

Economic Collaboration: Appreciation was expressed for the third tranche of the Oman-India Joint Investment Fund, seen as a catalyst for investments from Oman and the Gulf region into India's rapidly growing sectors.

Maritime Security Monitoring: India is closely monitoring the maritime situation near Oman and Yemen, particularly due to heightened threats to commercial shipping vessels arising from retaliatory actions by Yemen military forces targeting Israeli shipping.

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