India, Oman may set up JV for cooperation

DUBAI: India and Oman are studying the possibility of setting up a joint investment company to enhance the economic cooperation between the two countries.

Increased economic cooperation was the focus of talks between N Ravi, Secretary (East) in the Ministry of External Affairs, and Maqbool bin Ali Sultan, Oman's Minister of Commerce and Industry, in Muscat yesterday.

The two sides reviewed Oman-India relations, in addition to discussing ways of increasing the volume of investment in the two countries and the efforts in this regard by Oman Oil Company (OOC), Omani investors and the Indian side, the Omani news agency said.

They also discussed the possibility of setting up a joint investment company between the two countries to invest in vital sectors, it said.

Besides, the meeting touched upon the GCC-India summit to be held in India by the month-end, the agency reported.

Yousuf bin Alawi bin Abdullah, Oman's Minister for Foreign Affairs, also received Ravi and discussed bilateral cooperation and ways of promoting them.

Mohammed bin Nassir Al Khusaibi, Secretary-General of Oman's National Economy Ministry, also met Ravi and reviewed economic relations between the two countries