Embassy News and Events

Commerce Official Hails Expected Opportunities under FTA

Deputy Secretary Sampson (left) with Ambassador Gary A. Grappo and H.E. Eng. Salem Said Al Ghattami, Executive President of OCCI.

The Deputy Secretary of the U.S. Commerce Department, David Sampson, hailed the expected opportunities that await businesses under the U.S.-Oman Free Trade Agreement (FTA) during a February 6 visit to Muscat. 

In meetings with senior government officials and private sector representatives, Deputy Secretary Sampson emphasized the importance of free trade in promoting economic growth, creating employment, benefiting consumers, and fostering transparency.  He welcomed the Agreement’s strengthening of commercial ties between Oman and the United States, and congratulated Oman for its continued leadership role in advocating for positive economic change in the Gulf region.      

Deputy Secretary Sampson urged Oman to seize the unique opportunities arising from its becoming an FTA partner to promote itself as an international trade and investment destination.  He encouraged Oman’s business community to explore possible synergies with U.S. companies and offered the Commerce Department’s support for Omani government initiatives to promote the benefits of investing in the Sultanate to the U.S. business community. 

The Deputy Secretary praised Oman for its efforts in sustaining an inviting business environment in which intellectual property rights are protected, government regulations and standards are easy to navigate, and healthy competition is the norm.  He highlighted the importance of continued economic reform initiatives in paving the way to a brighter entrepreneurial future, one in which small and medium businesses could drive the economy and create new jobs. 
  
The governments of both the United States and Oman are currently certifying that respective regulations are in compliance with the provisions of the Agreement.  Once the Agreement comes into effect, 100% of bilateral trade in consumer and industrial goods will become duty-free, as will most agricultural products.  The Agreement also ensures the provision of a predictable, legal framework for trade and investment.  For more information on the FTA, please refer to the following website maintained by the U.S. Embassy’s Commercial Section: http://www.buyusa.gov/oman/en/.

Text of Deputy Secretary David A. Sampson's Remarks

كلمة نائب وزير التجــارة الأمريكي ديفيد أ. سامسون