India, Oman express support for FTA

New Delhi, Sep 6 (UNI) Commerce and Industry Minister Kamal Nath and his Omani counterpart Maqbool Ali Sultan today expressed their support for the proposed Free Trade Agreement(FTA) between India and the six-nation Gulf Cooperation Council (GCC).

At the 5th session of the India-Oman Joint Commission here, both sides supported the FTA and also identified several potential sectors--oil and energy, gas and fertilisers, IT, Tourism--for further upgrading bilateral trade and economic cooperation.

A number of Memoranda of Understanding (MoU) and cooperation agreements are also contemplated in the sectors of shipping, higher education and culture.

Both countries agreed to set up a Task Force to monitor and accelerate implementations of the technical level deliberations.

UNI SBA PV HT1828