New Delhi, June 1: Indian firms investing in Oman can hire Indian workers over and above the local employment requirements mandated by the Omani government under the free trade agreement that took effect on Monday, Commerce and Industry Minister Piyush Goyal said.
The comprehensive economic partnership agreement (CEPA) between the two countries came into force from June 1. The free trade agreement gives duty-free access to 99 per cent of India’s exports, including textiles, engineering, gems and jewellery, to the Omani market and benefiting professionals with enhanced mobility provisions.
On the other hand, Indian consumers would get cheaper Omani dates as imports of the fruit will enjoy quota-based duty concessions under the agreement.
“Since we also foresee a large number of Indian investments being made in Oman, where Indian materials can also be exported, further processed and serve different markets, we have agreed with the Omani side that for investments which are made by Indian companies, Indian workers will be given preferential ability to serve, in addition to whatever the Omani local resident requirements. Whatever is required for Omani nationals, other than that, they will prefer Indian workers,” he told reporters here.
Under the Omanisation policy, the Gulf country seeks to boost the employment of its citizens in the private sector. The policy mandates companies to meet specific quotas for hiring Omani nationals. (PTI)
