MUSCAT : The Chairman of Economic Committee at Oman’s Shura Council said the Comprehensive Economic Partnership Agreement (CEPA) with India fully safeguards the Sultanate’s national interests and will be subject to periodic review through a joint mechanism.
His Excellency Ahmed bin Mohammed Al Sharqi said the Shura Council examines all agreements and laws referred to it, and upon receiving the CEPA with India, conducted a detailed review of its provisions to ensure they are in line with Oman’s economic and national priorities.
Al Sharqi said the agreement includes a joint committee tasked with reviewing its clauses, adding that the CEPA will be reassessed every three years. The review process allows for adjustments and recommendations in line with developments in trade and investment relations between the two countries.
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He noted that the council had put forward several recommendations, including enhancing access to the Indian market and increasing the share of Omani exports, particularly in the petrochemicals sector, to strengthen the Sultanate’s trade position.
The remarks were made during a media briefing on the Comprehensive Economic Partnership Agreement between the Government of the Sultanate of Oman and the Republic of India, as Muscat moves to deepen economic cooperation with one of the world’s largest economies.
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