Bangladesh highlighted the importance of executing a Comprehensive Economic Partnership Agreement (CEPA) with Oman to narrow the bilateral trade deficit, boost exports of Bangladeshi merchandise, and broaden investment horizons.

Commerce Minister Khandakar Abdul Muktadir on Tuesday stated that Bangladesh seeks to elevate its longstanding amicable relations with Oman into a robust economic partnership by dismantling trade barriers, discovering fresh investment avenues and bolstering direct commercial ties between both nations.

He made these observations during a courtesy call with Omani Ambassador to Bangladesh Jamil bin Haji bin Ismail Al Balushi at the Secretariat, according to a ministry press statement.

The minister described Oman, a prominent member of the Gulf Cooperation Council (GCC), as a highly promising trade and investment partner for Bangladesh.

“A CEPA could create new opportunities to expand bilateral trade, increase investment and strengthen economic cooperation,” he stated.

During the discussion, the Omani envoy shared his country's experience of concluding a similar economic partnership agreement with India and proposed establishing a comparable deal with Bangladesh.

Welcoming the initiative, the Commerce Minister stressed advancing bilateral talks based on required technical groundworks and a detailed feasibility study.

Reflecting on the enduring friendly ties between the two countries, the ambassador noted that approximately 700,000 Bangladeshi workers residing in Oman were making vital contributions to its national economic development.

He added that the existing bilateral framework offers ample scope for further expanding trade and investment cooperation.

The minister emphasized the formation of a Bangladesh-Oman Joint Business Council, involving the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) alongside the Oman Chamber of Commerce and Industry (OCCI), to foster direct engagement between corporate entities.

Both sides deliberated on organizing an initial virtual session, which would subsequently be followed by exchange visits of trade delegations.

The ambassador drew attention to lucrative investment opportunities for Bangladeshi investors across Oman's strategic hubs—including Sohar, Duqm, and Salalah ports—as well as within its special economic zones.

The meeting also explored leveraging these maritime and economic facilities to step up exports of Bangladeshi goods across the Middle East, Africa, and wider global markets.

In addition, the ambassador commended Bangladeshi women artisans for their expertise in manufacturing Oman's traditional kuma caps.

He further underscored the necessity of expanding employment prospects, streamlining business visa issuance, and enhancing direct communication between the concerned ministries of both governments.