WASHINGTON, DC - The United States House of Representatives approved on July 20, 2006 the US-Oman Free Trade Agreement (FTA) Implementation Act, a press release by the Office of the United States Trade Representative (USTR) stated.
The Agreement provides for increased bilateral access for industrial, consumer, and agricultural goods and will provide for new opportunities in the services sector. The agreement also provides for a secure, predictable legal framework for US investors operating in Oman, effective enforcement of labor and environmental laws, and protection for Intellectual Property.
USTR Susan C. Schwab, in a statement, said that this FTA, which is the fourth with an Arab country after Jordan, Morocco and Bahrain, will further enhance a strong and historic bilateral relationship between the US and Oman.
The House of Representatives' approval of the US-Oman Free Trade Agreement, signed on January 19 this year in Washington, follows the Senate’s approval on June 29.
After completing additional legislative formalities, the Agreement will go to the White House for President George W. Bush’s signature.