Government, U.S. Reach Free Trade Agreement
The United States and Oman finished negotiations on a free trade pact, part of the Bush administration’s efforts to establish a Mideast free trade area by 2013.
The agreement is expected to have little trouble gaining congressional approval given that trade between the United States and Oman is so modest.
Last year, trade between the nations amounted to only $748 million.
Under the deal, all trade in industrial and consumer products would become duty-free as soon as the agreement took effect, with agricultural tariffs phased out over 10 years.
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