“Indian ACPA negotiations have been concluded,” said Minister of State for Trade and Industry Jitin Prasada informed Rajya Sabha in a written response this week while answering a question from the Mebi Mather Histham Congress concerning India’s trade agreements.
India and Oman share a long -standing story of friendship and cooperation, based on the basis of confidence and mutual respect, and strong ties of people to people in centuries.
The two countries are strategic partners, and bilateral trade and investment relations between them prospered since diplomatic relations were established in 1955, which was improved in a strategic partnership in 2008.
The Minister, in his response, did not mention any date or calendar on the signature ceremony expected from the complete economic partnership agreement in India.
In addition, the Minister has informed the Upper Chamber that India has strengthened its business links in the past five years, signing five major free trade agreements (ALF) and progressing on several new agreements. The Cooperation and Partnership Agreement (CECPA) implemented in 2021, the agreement on the partnership and the CAPA of Economic and Commercial Cooperation of India-Australia (ECTA), in 2022 enter into force.
The Commercial and Economic Partnership Agreement (TEPA) of the European Union (EFTA) Association (EFTA) (EFTA) should be implemented later this year once all parties have completed their ratification processes.
Meanwhile, India is in talks for several other agreements, including India-EUSTRALIA CONCERNSIVE Economic Cooperation Agreement (CECA), India-Sri Larkic Economic Cooperation Contract, India-Peru FTA, India-Chile Cepa, India-New Zealand FTA, and a bilateral trade agreement with the United States.
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