Prime Minister Narendra Modi and Oman’s Sultan Haitham bin Tarik held bilateral talks on Saturday, followed by the adoption of a ‘vision document’ to enhance bilateral cooperation in around 10 key areas. The productive talk is also responsible for promoting a ‘Comprehensive economic partnership Agreement’ (CEPA).
The Sultan of Oman, Haitham,arrived in Delhi for his maiden visit to India on Friday after being the top leader of the Gulf nation. The Omani leader was welcomed with a banquet dinner in Rastrapati Bhavan hosted by the President Droupadi Murmu.
PM Modi termed it as a historic visit as it happens after 26 years.
Deepening cooperation in various fields
The strategic bilateral talk mainly focuses on strengthening cooperation in various areas including maritime security, trade and investment space cooperation, agriculture and food and energy security.
According to a statement from the foreign secretary, India and Oman have signed agreements regarding the collaboration of information technology, curbing financial crimes, culture , green and renewable energy, exchange of intelligence data related to money laundering, offences and terrorism financing and most notably, establishment of a Hindi language chair of the Indian Council of Cultural Relations studies in Oman.
Strengthening Maritime Security and New trade Roots
As the talk marked, the ancient trade and maritime route between India and Oman will be revived to facilitate exchange of goods, ideas. The plan is scheduled to set sail from Mandvi port of Gujrat to Muscat in somewhere between 2025-2026. This connectivity will depend people- to- people ties between two nations.
The strategic talk restored commitment towards negotiation and finalisation of a comprehensive economic partnership agreement including 10 key points. Additionally both nations announced the allocation of $300 million for the Oman-India investment fund which will mark a joint venture between the State Bank of India and the Oman Investment Authority.
With the identification of humanitarian assistance and disaster relief, both nations stressed upon increasing maritime security cooperation and India expressed its interest in the Omani port of Duqm, which will provide an excellent logistical base. This is expected to bring landmark changes in the field of maritime security.
Mentioning the trade on Indian rupees, the talk also signified the possibility of Oman strategising India’s digital payment system UPI with their counterpart Omani platform.
In a joint statement denouncement of terrorism and its all kinds of manifestations are echoed for both the leaders. The leaders also expressed shared concern over ongoing violence over Israel -Palestine War.
The agreement was concluded on a positive note with mutual respect, historic ties, enduring partnership, and trade relations.
Category-World
Tags: India, Oman, cooperation, trade, Sultan Haitham, bilateral
