Foreign ministers of India, Oman hold extensive talks

New Delhi, Mar 23 (PTI) India and Oman on Wednesday agreed to finalise negotiations for a bilateral protocol on investment and avoidance of double taxation at an early date during talks between the foreign ministers of the two countries.

Foreign Minister of Oman Sayyid Badr bin Hamad bin Hamood Albusaidi held talks with External Affairs Minister S Jaishankar hours after arriving in India on a two-day visit. The two ministers underscored that as neighbours united by the waters of the Arabian Sea, the two countries have an important role in the maritime safety and security in the region, the Ministry of External Affairs (MEA) said.

“Both ministers agreed to finalise negotiations of the bilateral protocol on Investment and Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income (DTAA) at an early date in a spirit of mutual understanding,” it said in a statement. The MEA said the two ministers welcomed the progress and cooperation in resolving trade barriers in respect of critical agro commodities and agreed to pursue opportunities in areas such as renewable energy, green hydrogen, green ammonia etcetera.

It said the two noted with satisfaction that the bilateral trade was not adversely affected during the pandemic and agreed that there is significant potential to enhance bilateral trade in tune with the depth of the India-Oman strategic partnership. “They underscored the need to enhance momentum in trade and investment linkages as the economies of both the countries show strong signs of post-pandemic recovery,” it said.

Noting the synergy between the National Green Hydrogen Mission launched by Prime Minister Narendra Modi and the vision of Sultan Haitham Bin Tarik to position Oman as a global hub for green hydrogen and green ammonia, it was agreed to enhance cooperation in this area, the MEA said. It said the two ministers also exchanged views on recent regional developments as well as global issues of mutual interest. “They affirmed their keenness to work together in regional and international organizations and forums in order to achieve their common interests,” it said.

The MEA said Jaishankar and Albusaidi positively assessed the multi-faceted India-Oman relations that span several areas of cooperation such as defence, energy, investment, space, mining and science and technology. “They noted that while the traditional areas of cooperation are being further strengthened, new drivers of growth are expanding bilateral cooperation with new vigour and energy,” it said.

“Both ministers welcomed the decision to expeditiously implement proposals for joint cooperation in space, mining, maritime and science and technology sectors,” the MEA said. In a tweet, Jaishankar said: “A pleasure to meet my good friend, FM @badralbusaidi of the Sultanate of Oman. Discussed our growing cooperation in the political, economic, defence, energy, S&T, space, rare earths and people-to-people fields.”

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