President George W. Bush signed the Free Trade Agreement with Oman yesterday opening the door to new trade opportunities. See the news bulletin here from the office of the U.S. Trade Represenetative.
More from the Times of Oman.
Oman is essentially a consumer market, and the essence of FTA is trade liberalisation and duty-free. FTA will wipe out export-import tariffs. US goods, including vehicles, machinery, toys, pharmaceutical products, games and sports equipment and agricultural commodities like cereals, dairy produce, fruits and vegetables and meats would enjoy good demand in Oman as traders and consumers will enjoy more choice, and more significantly, affordable prices. In the Gulf, significant progress towards regional integration has already been achieved. Barriers to free movement of goods, services, capital and national labour have been largely eliminated and a common external tariff is now in place.
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