The India-Oman Comprehensive Economic Partnership Agreement (CEPA) will come into force on June 1. It grants New Delhi 100% duty-free access across 98.08% of tariff lines, covering 99.38% of export value, with the benefits available from Day 1. KIRTIKA SUNEJA explains
Engg goods, pharma, agri & processed food, marine products, textiles, chemicals, electronics, plastics, gems & jewellery
DUTY FREE EXPORTS
Natural honey, cashew, boneless meat, bakery products
Chocolate, sugar confectionery, mineral wate
Cheese, curd, milk, cream, frozen fish, butter
Animal & vegetable fats and oil
Oman levies 5-100% duty at present
Zero-duty access, consolidates India’s 98.3% share, making Oman India’s largest export destination for eggs
MOBILITY, SERVICES GAINS
Enhanced mobility for Indian Professionals
Temporary stay commitments for intra-corporate transferees, contractual service suppliers, business visitors, independent professionals
Liberalised entry, stay for professionals in accountancy, taxation, architecture, medical
Commitment on 100% FDI for Indian cos in major services sectors
First-ever commitment by any country on traditional medicine
Fast tracking of marketing authorisations for USFDA, EMA, UKM ..
WHAT BECOMES CHEAPER FOR INDIA
Dates: Duty-free access to 2,000 tonnes of Omani dates annually
Concessions to Oman’s Gum Arabica (used in food, medicines), Frankincense used in perfume sector
Petrochemicals, Marble blocks
Source Name : Economic Times