oabc-us-oman-free-trade-agreement1

Muscat, June 17, 2015 – OABC hosted a panel discussion to explore the various opportunities that the Free Trade Agreement (FTA) between the United States of America (US) and the Sultanate of Oman offers to American companies, entitled: ‘The United States-Oman Free Trade Agreement: What it means for Your Business.’ Mr. Jason Buntin, Director for Western Europe and Middle East Affairs at the Office of the United States Trade Representative, lead the panel discussions in which Ann Mason, Economic and Commercial Officer of the United States Embassy in Muscat, also participated.

“The FTA has been an important symbol of the strategic trade relationship between Oman and the United States for six years now, with many American businesses in the Sultanate utilizing the FTA to produce mutual economic gains. It is critical to clarify what the agreement offers to the rising number of American companies based in Oman, specifically the many opportunities that it creates for productive, efficient commerce,” said Fouad Eid, Executive Secretary of the OABC Board and Vice President of Dover Middle East. “We are confident that this discussion panel has shed light on aspects of the agreement that will support the generation of new prospects, while further providing a networking opportunity that can enhance the level of business activity for those attending.”

With over 50 American businesses registered in Oman attending, the gathering explored market access and investment provisions the FTA provides to increase bilateral trade, and strengthening investor protections. The discussion panel further explored safeguards, intellectual property rights and government procurement, as well as labor and environment provisions of the FTA and the procedures put in place to settle any disputes under the FTA.

The United States-Oman Free Trade Agreement came into effect in 2009. The United States Embassy conducts FTA awareness programs across Oman to ensure that there is a solid foundation in all international dealings; two have already been held in Muscat and Sohar, with upcoming sessions scheduled for Salalah, Nizwa, and Sur. For more information about FTA please visit: http://www.oabcoman.org/?page_id=42