The U.S.-Oman Free Trade Agreement is a trade pact between Oman and the United States. On November 15, 2004, the George W. Bush administration notified the

U.S. Congress The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washin ...

of its intent to sign a

trade agreement A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other. The most common tr ...

with the

Middle East The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabian Peninsula, Arabia (including the Arabian Peninsula and Bahrain), Anatolia, Asia Minor (Asian part of Turkey except Hatay Pro ...

ern

Sultanate This article includes a list of successive Islamic states and Muslim dynasties beginning with the time of the Islamic prophet Muhammad (570–632 CE) and the early Muslim conquests that spread Islam outside of the Arabian Peninsula, and continuin ...

Oman Oman ( ; ar, عُمَان ' ), officially the Sultanate of Oman ( ar, سلْطنةُ عُمان ), is an Arabian country located in southwestern Asia. It is situated on the southeastern coast of the Arabian Peninsula, and spans the mouth of ...

. On January 19, 2006 the two countries signed the U.S.-Oman Free Trade Agreement (OFTA), which is part of the Bush administration's strategy to create a US - Middle East Free Trade Area (MEFTA) by 2013. On June 29, 2006, the U.S. Senate passed OFTA by a vote of 60-34, the fewest "aye" votes in the Senate of any trade bill other than CAFTA. On July 20, 2006, the U.S. House of Representatives passed OFTA by a vote of 221-205, with 7 abstentions. For procedural reasons, the Senate took a second vote on September 19, 2006, and the bill's implementing bill was passed 62-32, with 6 abstentions. In all, the Senate approved the bill 63-37, since all senators voted either "aye" or "nay" in one of the two votes. George W. Bush signed the bill into law on September 26, 2006. And on December 29, 2008 signed the proclamation to implement the agreement with effective date of January 1, 2009.Presidential Proclamation of December 29, 2008
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Views in favor of OFTA

According to the

U.S. Trade Representative The Office of the United States Trade Representative (USTR) is an agency of the United States federal government responsible for developing and promoting American trade policy. Part of the Executive Office of the President, it is headed by the ...

's office and other proponents of the pact, OFTA is an important step towards reducing barriers to trade in goods and services in Oman.
USTR Site on OFTAEmergency Committee for American Trade Site on OFTAHouse Ways and Means Committee's Republican Leadership's Site on OFTA

See more

Rules of Origin Rules of origin are the rules to attribute a country of origin to a product in order to determine its "economic nationality". The need to establish rules of origin stems from the fact that the implementation of trade policy measures, such as tar ...

Market access In international trade, market access is a company's ability to enter a foreign market by selling its goods and services in another country. Market access is not the same as free trade, because market access is normally subject to conditions or re ...

Free-trade area A free-trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and ...

Tariffs A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and po ...

References

External links

U.S. House Ways and Means Committee Hearing on Oman FTACongressional Research Service Study on OFTAU.S. International Trade Commission Report on OFTAState Department Report on Human Trafficking in Oman
* ttp://files.e2ma.net/6237/assets/docs/oman_and_port_security_cd_memo_1_.pdf Congressional Research Service Memo on OFTA and port security issuesbr>Testimony on OFTA of David Hamod, National U.S.-Arab Chamber of CommerceJerusalem Post Story on OFTA and Oman's Observance of a Boycott of Israel
{{DEFAULTSORT:Oman-United States Free Trade Agreement Economy of Oman Free trade agreements of the United States Treaties of Oman Treaties concluded in 2006 Treaties entered into force in 2009 Oman–United States relations