Muscat: Bilateral trade and investment are key pillars of Indo-Oman ties, Minister of State for External Affairs M J Akbar on Wednesday said as he sought to strengthen economic and strategic ties with the oil-rich Gulf nation.
“India and Oman have a relationship that can be a model: we are maritime neighbours across the Indian Ocean.
The historical maritime trade and cultural exchanges, spanning over 5000 years, have evolved over the past 7 decades into a strategic partnership between India and Oman,” Akbar said at the 5th India-Arab Partnership Conference. “Apart from extensive defence and security co-operation and people-to-people exchanges, bilateral trade and investment are key pillars of the India-Oman bilateral partnership,” he said. Today, there are around 3000 joint ventures between Indian and Omani partners in Oman with a total investment of around USD 7.5 billion.
Calling Gulf and West Asia as India’s “energy security “pillar”, he said Maghreb is the major source of phosphate and fertiliser for the country.
He said the India-Arab Partnership Conference, which began in 2008, can be a real game changer, as the ties have acquired critical mass. “India and the Arab world have always been bridged by enormous goodwill. Our merchants have improved the quality of life on both sides of the waters since before recorded history, but that was only a part of the equation. (PTI)
