Commerce Minister Piyush Goyal and Adviser on Foreign Trade and International Cooperation at Oman’s Ministry of Commerce JE Pankaj Khimji with other delegates during their meeting to further strengthen bilateral ties under the India-Omani CEPA framework in New Delhi on May 12, 2026. Photo: X/@PiyushGoyal via ANIUshGoyal
The India-Oman Comprehensive Economic Partnership Agreement (CEPA) is “likely” to be implemented on June 1, 2026, Commerce Minister Piyush Goyal said on Tuesday (May 12, 2026) after meeting the negotiating team from Oman.
He added that negotiations on a free trade agreement between India and Chile have hit some hurdles due to differences in the size of the economies involved.
“I had a very good meeting with the Omani team today and most likely the Oman Free Trade Agreement will come into effect from June 1, 2026,” Mr Goyal told reporters on the sidelines of the CII 2026 Annual Business Summit on Tuesday (May 12, 2026).
Earlier in the day, he posted on social media that he had a “productive” meeting with Pankaj Khimji, adviser on foreign trade and international cooperation at Oman’s Ministry of Trade, Industry and Investment Promotion.
“Discussions focused on strengthening India-Omani economic cooperation, enhancing connectivity and logistics links, facilitating trade flows and exploring new avenues for bilateral partnership under the India-Omani CEPA,” Mr. Goyal wrote.
The India-Oman CEPA was signed on 18 December 2025.
On the other hand, the trade minister indicated that the negotiations with Chile are encountering certain difficulties.
“On Chile, I had a very good meeting with the foreign minister,” Mr. Goyal said. “There are some challenges, given the very different sizes of the economies and the different scales of opportunity that the two countries offer each other.”
While he said that both sides are trying to bridge this gap through “innovative solutions”, he also specified certain things that Chile could offer to India to support it.
“If we get a lot on critical minerals and other important concessions, then maybe there is a very good possibility that we should be able to complete a free trade agreement with Chile as well,” Mr Goyal said.
Published – 12 May 2026 23:20 IST
