Can the India-Oman deal unlock strategic gains amid Gulf instability?
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MULTIMEDIA  25 May 2024 - 16:02

India and Oman are on the cusp of a groundbreaking trade agreement! This strategic move by India is set to bolster its presence in the Gulf region.

Despite their current trade being valued at less than $13 billion annually, Oman's critical location by the Strait of Hormuz makes this partnership immensely valuable. This chokepoint is essential for global oil shipments, and a robust trade deal with Oman is crucial for securing stable energy flows.

With ongoing instability in the Red Sea and attacks by Houthi rebels posing risks to maritime routes, this Comprehensive Economic Partnership Agreement (CEPA) aims to ensure safer and more secure trade passages for India. The CEPA will eliminate duties on $3 billion worth of Indian exports, boosting economic ties and creating opportunities for green manufacturing plants in Oman.

For Oman, this agreement is a step towards economic diversification and attracting more investments. Geopolitically, it allows India to expand its influence in the Gulf, aligning with its strategy to secure stable energy supplies and support its economic growth. Join us as we explore how this pivotal deal could reshape regional dynamics and economic landscapes!

Caliber.Az