FTA to boost custom-free textile & RMG biz with US
18 Dec '06
1 min read
Maqbool bin Ali Sultan, Minister of Commerce and Industry delivered statements on number of issues related to ministry before Majlis.
He said that Free Trade Agreement (FTA) between the Nation and US have made impact on different economic sectors and represented it as one of the distinct developments in its economy.
Minister told that joining the WTO in 2000 was a significant step and it opened gateway for Omani exports to reach the world markets.
According to him, country would exempt customs taxes on the majority of goods taking precautionary measures to protect some of the local industries.
He was of the opinion that FTA would add to the growth of Omani economy and attract American investments in the field of services leading to more job opportunities.
Once the agreement is enforced, customs duty on textile and readymade garments would be exempted, he revealed.
marketing@alchempro.com
