What is the sticking point in the India-Oman FTA talks related to duty concessions on petrochemical products
The India-Oman Free Trade Agreement (FTA) talks have hit a roadblock due to a disagreement over duty concessions on petrochemical products.
- The sticking point in the India-Oman FTA talks is the disagreement over duty concessions on petrochemical products.
- India is seeking a significant reduction in duties on petrochemical products imported from Oman in order to boost its domestic industry and increase bilateral trade.
- However, Oman is reluctant to grant such concessions due to concerns about the impact on its own petrochemical industry.
- Oman, being a major exporter of petrochemical products, has a vested interest in protecting its domestic industry and maintaining a competitive edge.
- Both countries are engaged in negotiations to find a middle ground that satisfies the interests of both parties.
Answered
a year ago