The comprehensive economic partnership agreement (CEPA) between the two countries came into force from June 1.
“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. These quotas vary by sector and are periodically revised.
He said that “for the first time ever, we have secured a binding commitment to protect Indian workers in non-service sectors provided that the units are majority Indian owned”.
When asked if this pact would act as a template for negotiating trade deals with the GCC (Gulf Cooperation Council) group, Goyal said it will certainly make the agreement with the GCC easier.
“I do believe that every agreement stands on its own feet. But since there is a lot of similarity in the countries, I think this will certainly help in speeding up the negotiations with the GCC,” he said.He added that Oman has also committed to lifting its decades-old ban on exporting unpolished marble blocks.
“So our craftsmen from Rajasthan and Andhra Pradesh can access Omani raw material directly,” he said, adding that the two sides will facilitate a mutual recognition agreement for halal certification.