India, Oman sign bilateral agreements to boost ties

India and Oman have signed several agreements to boost trade and cultural ties as Omans Deputy Prime Minister Sayyid Fahd bin Mahmoud al Said met Prime Minister Dr. Manmohan Singh here on Friday evening.

New Delhi, Dec 15 : India and Oman have signed several agreements to boost trade and cultural ties as Oman's Deputy Prime Minister Sayyid Fahd bin Mahmoud al Said met Prime Minister Dr. Manmohan Singh here on Friday evening.

India's fertiliser firm Krishak Bharati Cooperative (KRIBHCO) tied up with the Oman Oil Company to facilitate asset transfer and set up joint ventures.

Oman Oil already has a joint venture with KRIBHCO and Indian Farmers Fertilisers Cooperative (IFFCO) to produce 1.6 million tonnes of urea and 250,000 tonnes of ammonia annually.

The two countries also signed Memorandum of Understandings (MoUs) for cooperation in medium, small and cottage enterprises and higher education.

Oman is India's largest crude supplier. Around 100 Indian companies are executing projects in Oman while more than 25 Omani companies have presence in India. Besides, over 400,000 Indians are working in Oman.

The two countries have signed agreements on investment protection and avoidance of double taxation.

Said, who is on a four-day visit to India, also met President Pratibha Patil and National Security Advisor, M K Narayanan.

ANI