U.S. and Oman Sign Free Trade Agreement
U.S. exports of agricultural products to Oman in 2004 totaled $20 million, including vegetable oils, and sugars, sweeteners, and beverage bases.
Compiled by staff
Published: Jan 20, 2006
U.S. Trade Representative Rob Portman and Omani Minister of Commerce and Industry Maqbool bin Ali Sultan signed the U.S.-Oman Free Trade Agreement Thursday, a comprehensive agreement that will eliminate tariffs and barriers and expand trade between both countries.
On the first day this agreement goes into effect, 100% of consumer and industrial products and 87% of agricultural tariff lines will be duty free. U.S. exports of agricultural products to Oman in 2004 totaled $20 million, including vegetable oils, and sugars, sweeteners and beverage bases.
The United States is aggressively working to open markets globally, regionally, and bilaterally and to expand American opportunities in overseas markets. The Bush Administration has completed FTAs with thirteen countries - Chile, Singapore, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Australia, Morocco, Bahrain, Peru and now Oman.
Negotiations are under way with eleven more countries: United Arab Emirates, Panama, Colombia, Ecuador, Thailand, and the five nations of the Southern African Customs Union. New and pending FTA partners, taken together, would constitute America's third largest export market and the sixth largest economy in the world.
Permalink: Click here
Tagged: free trade agreement, fta
|