India, Oman Give Push to CEPA, Adopt Vision Document to Expand Ties

New Delhi: Prime Minister Narendra Modi and Oman’s Sultan Haitham bin Tarik held “productive” talks on Saturday and adopted a vision document to increase bilateral cooperation in around 10 key areas and pushed for concluding a comprehensive economic partnership agreement (CEPA). The Sultan of Oman arrived in Delhi on a state visit on Friday, his first trip to India as the top leader of the Gulf nation.

The Sultan was hosted by President Droupadi Murmu at the Rashtrapati Bhawan followed by bilateral meetings and signing MoUs at Hyderabad House.

Bilateral discussion held at the Hyderabad House included consultation about the situation in Israel and the Palestinians. The two sides signed on five documents that included an agreement between the Financial Intelligence Unit of India and the National Centre for Financial Information to prevent money laundering .

Key Highlights:

The following *MoUs and Agreements* were signed and exchanged during the visit of Oman Sultan :

1. MoU between the Government of the Republic of India represented by the Ministry Of Culture and the Government of the Sultanate of Oman represented by the Ministry… https://t.co/XSNQBo6mcA pic.twitter.com/cjIWJoI3GT

— Dr. Shahid Siddiqui (@shahidsiddiqui) December 16, 2023

In his opening remarks at talks between the two delegations, Prime Minister Modi said India and Oman are taking steps to build on their “unbreakable bond of deep friendship”.

The two sides announced the third tranche of $300 million (about ₹2,500 crore) for the Oman-India Joint Investment Fund, a 50-50 joint venture between the State Bank of India and the Oman Investment Authority created to channel funds into the fastest growing sectors of the Indian economy.

Later in a media briefing Foreign Secretary Kwatra informed that the two sides have agreed on a vision document titled ‘A Joint Partnership For The Future’ that covers several sectors vital for upgrading the relationship. Digital connectivity, medical tourism, maritime security, hospitality, agriculture, and food security are some of the areas that the vision document has focused on. The Joint Statement informed that the leaders appreciated the announcement of the third tranche of the Oman-India Joint Investment Fund and said the fund has the “potential to galvanise investments from Oman and the Gulf region into the fastest growing sectors of the Indian economy”.

PM @narendramodi , #Oman Sultan adopt new 'partnership for future' joint vision during delegation-level talks. Both leaders held #bilateral talks In New Delhi with a focus on future collaboration between the two countries, including in areas of political, #security , #defence and… pic.twitter.com/I8ql9L5L8T

— Dr. Shahid Siddiqui (@shahidsiddiqui) December 16, 2023

The two sides also exchanged perspectives on the challenge of terrorism and the need for a two-state solution as a way forward, he said.

“They [PM Modi and Sultan Haitham bin Tarik] affirmed their commitment to enhancing cooperation to combat terrorism and underscored the significance of fostering the universal values of peace, moderation, coexistence and tolerance,” a Joint Statement issued at the end of official engagements stated.

Kwatra also highlighted the role of the Indian community of 7,00,000 in Oman, especially their significant contributions to the development of the West Asian country’s economy.

–Dr. M Shahid Siddiqui (PhD), Follow via X (Twitter) @shahidsiddiqui

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