India-Oman FTA set to be signed soon: Officials

livemint.com:

NEW DELHI : The legal vetting for a proposed free trade agreement (FTA) between India and Oman is nearly complete, with the deal likely to be signed in either the coming days or after the general election, two people aware of the matter said. "The government hopes to sign the pact before the announcement of dates for general elections, and in case it cannot be signed before the announcement, the government may nevertheless seek permission from the election commission to announce it as the FTA is in the interest of economy," said the first person mentioned above, who spoke under the condition of anonymity.

"In this case, the government may announce the finalization of negotiations and sign it even after the model code of conduct comes into force," the above-mentioned person said. "There is also a likelihood of the announcement being made after the polls," the person added.

The model code, which comes into effect as soon as election dates are made public, bars government leaders from announcing development projects in a move to level the playing field between opposition and ruling party candidates. The pact, officially known as the Comprehensive Economic Partnership Agreement (CEPA), will likely boost Indian exports to the West Asian country by eliminating duty, especially in petroleum products, textiles, electronics, pharmaceuticals, machinery, and iron and steel.

Reports suggest the Election Commission of India (ECI) is likely to announce the schedule for the Lok Sabha election, slated to take place in April-May, after 13 March. Spokespersons for the commerce ministry, commerce secretary Sunil Barthwal, the commerce minister's office, the prime minister's office and Oman embassy didn't respond to emailed queries by press