American-Omani free trade agreement negotiations starts Saturday

Negotiations of the first round for the free trade agreement between Oman and the US start today, Saturday. It is expected to be finalized by the end of 2005.

The Omani news agency said quoting the director of the organizations and conferences directorate at the Omani ministry of trade and commerce Khalfan Saeed al-Rahbai that the agreement will open a vast spectrum for Oman's exports through increasing the volume of trade exchange with the American side.

He indicated that Oman is looking for attracting the American investments and other investments, noting that the agreement will help American technology transfer to his country which would contribute to ensuring more work opportunities for the Omanis through projects which will be implemented.

Al-Rahbi explained that the first round of negotiations will include topics governed by the agreement including the liberalization of industrial and agricultural products, liberalizing services trade including financial services, telecommunications, e-commerce, rules of origins and customs measures as well as, government's purchase and intellectual property rights.

He said that the second round of trade negotiations will be held in Washington but set no date for it. He expressed hope that the Omani- American agreement will be signed by the end of the current years.

On the other hand, United Arab Emirates UAE and American negotiators expected in Abu Dhabi on Thursday following a round of negotiations aiming at finalizing a free trade agreement between the two countries that the second round of the negotiations will be held in Washington by the end of April or the beginning of May.

Bahrain had signed a free trade agreement with the USA, while Washington is trying to sign similar agreements with Oman and other member states in the Gulf Cooperation Council GCC.