A free trade agreement entered between the United States and Oman becomes effective Jan. 1.
U.S. Trade Representative Susan Schwab called the agreement “an important step” in advancing the Bush administration’s Middle East Free Trade Area (MEFTA) initiative.
The Oman agreement also builds on U.S. free trade agreements concluded with Israel, Jordan, Morocco, and Bahrain; trade and investment framework agreements with 10 countries in the region; and the 2005 World Trade Organization accessions of Saudi Arabia, Schwab noted.
On Jan. 1, 100 percent of two-way trade in consumer and industrial products between the United States and Oman will be duty free. The Office of the U.S. Trade Representative said the free trade agreement will expand opportunities for U.S. exports of machinery, automobiles, optic and medical instruments, electrical machinery, and agricultural products such as vegetable oils, sugars, sweeteners and beverage bases.
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