Muscat, Dec 18 (PTI) Prime Minister Narendra Modi met Oman's Sultan Haitham bin Tarik Al Said here on Thursday and discussed issues of mutual and bilateral interest.

Modi, who arrived in Oman on Wednesday on the last leg of his three-nation tour, was welcomed by Sultan Haitham at Al Baraka Palace in Muscat before the bilateral meeting.

The two sides are set to sign a Comprehensive Economic Partnership Agreement (CEPA), marking a major step in deepening their economic engagement.

The agreement is expected to enhance market access, promote investments, and strengthen cooperation across key sectors. It will support trade diversification and supply chain resilience at a time of global economic realignment.

In the last few years, India has signed many free trade agreements (FTAs), which are reaping rewards for our farmers, traders and exporters.  Earlier, PM Modi said the CEPA between India and Oman will give new confidence and energy to the bilateral relations.

Modi is visiting Oman at the invitation of Sultan Haitham. This is his second visit to the Gulf nation. His visit is of special significance as it marks the 70th anniversary of the establishment of diplomatic relations between the two countries.

The Prime Minister arrived here on the last leg of his three-nation tour. He earlier visited Ethiopia and Jordan.

Oman is the third-largest export destination for India among the Gulf Cooperation Council (GCC) countries. India already has a similar agreement with another GCC member, the UAE, which came into effect in May 2022.

India-Oman bilateral trade was about USD 10.5 billion (exports USD 4 billion and imports USD 6.54 billion) in 2024-25. India's key imports are petroleum products and urea. These account for over 70 per cent of imports. Other key products are propylene and ethylene polymers, pet coke, gypsum, chemicals, iron and steel, and unwrought aluminium.

The main items of India's exports to Oman include mineral fuels, chemicals, precious metals, iron and steel, cereals, ships, boats and floating structures, electrical machinery, boilers, tea, coffee, spices, apparel, and food items. PTI ZH ZH ZH

India-Oman CEPA to expand market access, boost investment, and strengthen sectoral cooperation and supply chain resilience. A Comprehensive Economic Partnership Agreement between India and Oman aims to expand market access, promote investment flows, and strengthen cooperation across key sectors to support trade diversification and supply chain resilience; it builds on India's existing preferential trade framework and responds to bilateral trade patterns with Oman as a significant export destination and supplier of petroleum and urea.