Oman-US Free Trade Agreement -
By Conrad Prabhu –
MUSCAT — The United States has reiterated its commitment to working with the Sultanate in harnessing the potential of the landmark Oman-US Free Trade Agreement (FTA) in fostering trade and investment between the two friendly countries.
An official American delegation is currently visiting Oman for talks with officials of the Ministry of Commerce and Industry, Public Authority for Investment Promotion and Export Development (PAIPED) and the private sector, aimed at making the FTA work for the mutual benefit of the two nations.
Headed by Dan Mullaney, Assistant US Trade Representative for Europe and the Middle East, the delegation took part in the 2nd Joint Committee Meeting of the FTA held here yesterday.
In brief remarks at a reception for Young Entrepreneurs hosted by the US Embassy Muscat on Saturday, Mullaney underlined his side’s resolve in making the FTA a vehicle for stronger economic ties between the two countries.
“The US Government the Oman government are committed to the Free Trade Agreement to increase trade and investment, and the FTA provides a framework for achieving this by setting non-discrimination and open access rules,” the official said.
But he stressed the pivotal role of SMEs in driving trade and investment growth under the FTA. “Generally, it’s not the government that creates growth
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