India, Oman decide to expedite trade pact talks, ink protocol to amend tax treaty
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The two sides have also signed the Protocol to amend the India-Oman Double Taxation Avoidance Agreement (DTAA), aligning it with international standards on cross-border taxation during commerce and industry minister Piyush Goyal’s visit to Oman this week.
Goyal co-chaired the 11th Session of the India-Oman Joint Commission Meeting (JCM) with Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion of Sultanate of Oman during his visit on January 27-28, according to a statement issued by the commerce and industry ministry.
Noting that the two ministers exchanged views on a bilateral India-Oman CEPA which is under advanced stages of negotiations, it said: “Both ministers agreed to expedite the discussions for an early signing of the CEPA which will be a new milestone in bilateral trade relations and has the potential to significantly scale-up two-way trade and investments”.
India’s exports to Oman in 2023-24 were $4.47 billion and imports were $4.5 billion.
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