India and Oman have entered into an agreement under which the two sides will prepare a report on nine areas of cooperation for direct investment and technology transfer between the two countries. Oman's official news agency said the agreement was signed at the Office of Omani Ruler, Sultan Qaboss's Advisor for Economic Planning Affairs, Mohammed bin Al Zubair, while Montek Singh Ahluwalia, Deputy Chairman of Planning Commission, signed as representative of Prime Minister Manmohan Singh.
The 'Supreme Committee for Promoting Economic Relations between Oman and India' was established under a directive of Sultan Qaboos bin Said and Prime Minister Singh during the latter's visit to the country in 2008 as part of measures to enhance and promote economic cooperation between the two sides. Zubair and Ahluwalia were assigned the task to set up a committee to prepare a report on mutual cooperation between the two countries.
Speaking on the occasion, Mohammed bin Al Zubair said: "The report shows fields upon which economic and trade relations can be expanded not only between the governments of the two countries, but also between the private sector in the Sultanate and the Republic of India". "The two countries have a number of multi potentials to expand this cooperation, besides, that the two countries are neighbours, and they have old friendship and relations that date back centuries," he said.