Muscat, December 18 (ANI): India and Oman on Thursday signed a Comprehensive Economic Partnership Agreement during Prime Minister Narendra Modi’s official visit to the Sultanate from December 17 to 18, according to a joint statement issued by the Ministry of External Affairs.
Alongside the CEPA, the two countries adopted a Joint Vision Document on Maritime Cooperation, signaling a shared intent to deepen engagement across economic, strategic, and maritime domains.
According to the joint statement, the CEPA is aimed at lowering trade barriers and creating a predictable framework to expand trade and investment flows, while supporting job creation and encouraging greater private sector participation in both economies.
The agreements come as India and Oman seek to reinforce supply chain resilience and strengthen investment linkages in the Gulf region. While India is positioning itself as a manufacturing and services hub, Oman is projecting its role as a logistics and energy gateway under Vision 2040.
Reflecting this expanding engagement, the joint statement described the bilateral relationship as a multifaceted strategic partnership between maritime neighbors.
Building on the economic focus, both sides reviewed opportunities to diversify bilateral trade, identifying textiles, automobiles, chemicals, equipment, and fertilizers as key sectors for expansion. The two countries also took note of ongoing discussions on mechanisms to facilitate trade in local currencies.
To further strengthen the investment climate, the leaders welcomed progress on a proposed Bilateral Investment Treaty, noting that it would help create an investor-friendly environment and provide greater confidence to businesses in both countries.
Energy cooperation featured prominently in the talks, with both sides exploring ways to expand collaboration in exploration and production activities in India and overseas. Discussions also covered cooperation in new and renewable energy, including green hydrogen and green ammonia.
In this context, the two countries flagged proposals for joint investments, technology transfer, and long-term collaboration aligned with shared sustainable energy goals.
The leaders agreed to deepen defense cooperation through joint exercises, training programs, and high-level exchanges, while enhancing maritime domain awareness and information sharing to prevent maritime crimes and piracy.
Reinforcing this maritime focus, both sides adopted the Joint Vision Document on Maritime Cooperation, linking regional maritime security with blue economy priorities and the sustainable use of ocean resources.
The joint statement listed seven signings and adoptions during the visit, including the CEPA; memoranda of understanding on maritime heritage and museums, agriculture and allied sectors, and higher education; an MoU between the Oman Chamber of Commerce and Industry and the Confederation of Indian Industry; and an executive program on millet cultivation and agri-food innovation.
The two sides also took note of proposals to establish an Ayush chair at Oman’s National University of Science and Technology, an ICCR Chair Program of Indian Studies at Sohar University, and the planned maiden voyage of INSV Kaundinya to Oman as part of maritime heritage outreach.
On connectivity, Oman expressed interest in discussions on air service traffic rights, including the number of destinations and code-sharing arrangements, with India acknowledging the request.
India thanked Oman for ensuring the welfare of the Indian community of around 675,000 residents in the Sultanate, while Oman acknowledged the diaspora’s contribution to the country’s development.
Both sides condemned terrorism in all its forms and manifestations and underscored continued cooperation to address the threat.
The leaders also expressed concern over the humanitarian situation in Gaza, called for the safe and timely delivery of humanitarian assistance, welcomed the signing of the first phase of a Gaza peace plan, and reiterated support for efforts toward a just and lasting resolution, including a sovereign and independent Palestinian state.
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