India-Oman CEPA: A New Era of Economic Partnership
Strengthening Ties Through CEPA
Muscat, Dec 18: Prime Minister Narendra Modi emphasized on Thursday that the Comprehensive Economic Partnership Agreement (CEPA) between India and Oman serves as a "blueprint for our shared future," poised to enhance bilateral relations for years to come.
During his address at the India-Oman Business Summit, PM Modi remarked, "We are making a historic decision today, one whose impact will resonate for decades. The CEPA will instill new trust and energy as we navigate the 21st century. This agreement is a roadmap for our collective future, aimed at boosting trade, instilling confidence in investments, and unlocking new opportunities across various sectors."
He encouraged business leaders from both nations to leverage the momentum generated by the summit to strengthen trade and investment ties.
"Our peoples share a deep understanding of each other. We have built generations of trust in our business interactions and are well-acquainted with each other’s markets," the Prime Minister noted.
"This summit will chart a new course for the India-Oman partnership, accelerating its growth and elevating it to new heights, with each of you playing a crucial role," he added.
PM Modi reminded the business leaders that they are the inheritors of a rich trade legacy between India and Oman, which has thrived for centuries.
"Since ancient times, our ancestors engaged in maritime trade. The Arabian Sea, connecting Mandvi and Muscat, has become a vital link. We can confidently assert that while the sea's waves may change, the friendship between India and Oman only grows stronger with each passing season," he emphasized.
He underscored that the India-Oman relationship is built on a foundation of trust and longevity. "Our diplomatic ties have flourished for 70 years, rooted in friendship and mutual respect," he stated.
Furthermore, PM Modi expressed that India's growth would be advantageous for its partners. "India has always been progressive and self-sufficient. As India advances, it also uplifts its friends," he remarked.
"Currently, India is on the path to becoming the world's third-largest economy, which is beneficial for the global community, and particularly advantageous for Oman, as we are not only close allies but also maritime neighbors," he added.
In a social media update, PM Modi referred to Oman as a land of lasting friendship and deep historical ties with India, stating that this visit presents an opportunity to explore new collaborative avenues and invigorate the partnership between the two nations.