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Mumbai Stock Exchange:Transcript of Special Briefing by Foreign Secretary on the State Visit of Sultan of Oman to India (December 16, 2023)

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Transcript of Special Briefing by Foreign Secretary on the State Visit of Sultan of Oman to India (December 16, 2023)

Very Good Afternoon to All of You. THANK You Very Much for Joining us for this Special Media Briefing on the Occasion of the SULTAN of Oman. Talks w ITH The Prime MINISTER HAVE Just Concluded. To give us a sense of the conversation, We have with us foreign security shri vinay kwatra. Also joining us on the dais, Secretary (CPV & OIA), Shri Muktesh Pardeshi, Shri Aseem Mahajan, Joint Sec Retary (GULF), as well as shri amit narang, our ambassador to oman. Sir, May I hand over the floor to you, size, size.

Thank you very much. Good Afternoon to the Friends from the Media. As Arindam Just Said, Prime Minister Has Just Concluded His Talks of the State of the S Ultanate of Oman, His Majesty Sultan Haitham Bin Tarik, Who Is Currently on AState Visit to India. His Majesty is Accompanied on this Visit by A very high-leveling comprising of his depuTy Prime minister for defense, Seven Cabinet, and think vice ministers.

As part of his State Visit, his Majesty was obcorded a ceerMonial Welcome at the Rashtrapati Bhawan Earlier This Morning D WERE HELD at Hyderabad House Between Prime Minister and His Majesty. Talks We Both in Restricted Format and in theDelegation-level format, and covered a wide range of area of ​​our bilateral cooperation, and which also reflected the multifaceted nature of india -Man Bilateral hip. Later TODAY, in Just A little which from now, Honorable Vice President Will Call on his majesty, And Later in the event, His Majesty Will Be Hosted by Honorable Rashtrapati Ji for A State Banquet. man.

This is Also the First State Visit from Oman to India in the Last 26 Years. Some of You Wout Recall that Late His Majesty Sultan Qaboos Bin Said Had Visited India In 1997, and he was also awarded the gandhi Peace Prize for 2019 Posthumously. MOSTRecently, in our exchanges over the last feature, Honorable Prime MINister Shri Narendra Modi Ji Had Visited The Sultanate of Oman in February 2018.

The visit by his majesty is obortantant, as it follows oman's very Successful Participation as a Special Guest Country in the G20 During India's Presidence A nd their participation, particularly at the summit of the g20, in sectionmber this year. Oman was one of the nineCountries Invited by India as Special Guest, Which itsets the importance and significance attached by Government of India to this relativeship. Ia Shares A Special Relationship with Oman, Anchored in OLD History of Contacts Between Our People.

Today Our Relationship has evolved into a strategic partnership, Characterized by Strong Cooperation ACROSS A RANGE of Areas in Diverse Fields. NERS for Maritime Security in the Western Indian Ocean.To Large Indian Dianspora. About 7 Lakh Indians Call Oman Their Home and Have in The Process Made Significant and MeaningFul Contribution Mani's eConomy. In terms of our trade and commercial relativeship, bilateral trade between india and Oman Stood at Roughly 12.5Billion in 2022-23, and what is significant is that in the last call of year in quantum. Ey WERE COMPREHENSIVEE and Constructive.

They Covered, As I SAID, Entire Range of Our Bilateral Engagement, Including Maritime Cooperation, Trade and Investment Cooperation, Cooperation in New Areas, Includin, Includin G Space, Financial Technology. They Shared Concess on the Problems of Terrorism. They Also Discusted Possible Elements of CooperationIn the Field of Energy Security, Particularly Green Energy, As of Course Also the Posses to FURTHER Strengetheen Pe convene, INCLUDING THROUGHH THROUGHH The Popul of Cricket in Both the Countries. His MajESTY ConGramed Prime Minister Modi for the Success of India's G20Presidence and Conveyed His Appreciation for the Invitation Extended to Oman and THEIR PARTICIPATION as the Special Guest.Mumbai Stock Exchange

The leaders Also Exchanged Perspective On Regional and Internet is. In terms of significant outComes from the discussion, The Two Leaders Adopte d India-OMAN Joint Vision, a Partnership for Future. The Joint Vision Basically Envisageis rooted in Oman Vision 2040, which is their national development blueprint under his Majesty Sultan Haitham, and India's Development Vision Under Prim 's amrit kaal vision.

This vision document focuses building partnership betwei-menia-menia-menia-menia-menia-mean and broadly eight to ten areas, which are, as I all, Operation and Connectivity; Two, Energy Security and Green Energy, in Particular Green Hydrogen; Three,Space for Digital Payments, Including Other ECOSYSTEM Industries of Fintech; The Full Bucket of Health, Tourism, and Hospitality-Related Partnership, DIS ASTER Management Featured Very Prominently in Discussions Between The Prime Minister and His Majesty, Agriculture and Food Security, AND, of Courter, Cricket. Earlier, ahead of the Visit, Both Country Had Also Signed Mou, Including in the Field of Information Technology, Cooperation in the FIELD of Culture , Combating Financial Crimes, and of Course, Establishment of a Hindi Chair of ICCR in Oman.

Secondly, Again An Area Which Featured Very Prominently in the Discussions Between The Two Leaders WASCUSSIONS BETWEEN The TWO COUNTRIES FOR eConomic Partnership Agreement. Although the Negotiations on Cepa Have Started Only Recently, They Have Made Substantial Progress in the Last Few RoundsOf discussion, and both leaders gave strong imageus and public to conclude the cepa agree as public. THIRD, Again A Significant Achievement In Terms of India-OMAN Trade and Capital Cooperation was the Anncement of the Third Tranche of the Oman-IDia JointInvestment fun. This fan funding be word $ 300 million, approximately 2,500 craces, public as a point of elaboration. Between The State Bank of India and the Oman Investment Authority, Which Essentially Channelizes Investments intoThe fastst-geowing sectors of the indian economy.

The Incing Two Tranches - The First One WAS Valued at 100 Million, The Second at Roughly 200 Million, and the Third Mentioned, IS 300 MILLION - Clearly Captures the Underlying Belief Between ... in the two countries and the leadership ofThe Two Count of FORIGING A very Strong Base of Economic Ties Through Direct Capital Investments in The Growing Sectors of the Indian Economy. E visit just a day or two ago, a Joint Commemoratage Postage Stamp was launched on the sizeVISIT. The Stamp depicts Traditational Folk Dances of Both Oman and India.

I have almedy mentering to you about the mous white ben sign. Arik is a highly and is onry Successful Visit, which we are confident will add newsTo our strategic PARTNERSHIP BETWEEN IndIA and Oman. I would end my remarks here, and if there are questions, we'll try and anger them. THANK You.. THANK You.. THANK You.Agra Stock. THANK You.. Thank you.

That of you, size open the foot question. Please Intropuce YouRSELF and the Organization that you reply. I'm Start with Siddhant.

Hi, size from side. My first question is how much was there a discussion on the West Asian crisis during the meeting? And security , WAS TheRE AnY DISCUSSION, Are them Open to Indian Ships useThat port?

Nivedita from the source guardian. Sir, you metioned something on the Financial Crimes. Could You Please Elaboraate On That A Little?

I'm Huma Siddiqui from the Financial Express. You talked about the agriculture and food security, if you count share more details. Cooperation, what kind of cooperization the look for?

Sir, I'm Sahil from Ani. You Spoke About Digital Payment as Well. What kind of collaboration we can excect between the two countries?

I'm taking that round of questions.

That of you. Siddhant, the given ... The ONGOING Developments in West Asia in Terms of What's HAPPPPENING. GAZA HAS Thrown Up, that was definitly an important element of discussionS Between the Two Leaders, andThere was a shared appreciation of the controlnge that both Countries Face from the Emerting Multiple Dimensions of the Conflict, Including The Catastrophic H Umanitarian siteing which is there, the challene of terrorism, and of course the larger need to find and the acheieve a two-State Solution as a Way Forward, but also the exchange of perspectives of the both Sides with regard to the site. d in detail their perspective of the size there.

Look on the duqm, as I make you in my Opening Remarks, you know, Our Cooperation in the Maritime Space extensive. E face that bith leaders identify Humanitarian assistance and discOf disaster management, as an important area of ​​coopration. Now, one of the key elements in the maritime coopy is the questics, and I Think IN that sense provides us essentially a logistic base for coopration between the two countries in theField of Maritime Cooperation, Including Humanitarian Disaster Relief.

On the Financial Crimes, you know, as I MenTioned, this is, you know, one of the mous which has ben sign, And as you know, what often happens is that between the Financial intelligenceUnit, Which on the Indian Side is a Custodian of Such Information and Exchanges on Such Information, and on the Omani Side, An Entity Called National For FINANCIAL Information, who dofels size on their size.This is to prevent Money Laundering Activities that go on and associate a set of crimes, including, you know, Money that is laundered Going Terror. IST Activities. So when the two systems will sit downloadCrimes of such nature would feature there.

On the Space Cooperation, LOOK, this has been an area of ​​discussion between ind. The Services Related to the Space-Based Systems, The Data Services,The Information Services that Could Be Exchanged BetWeen The Two Countries. It Also Talks About Building of Satellites, The Launching of Satellites. And it also t Alks About Capacity Building, that the two countries can cooperate with regard to build eACH OTHER's Space Capability.

Your Other Query Was, I think, on the agriculture and food security. Now, this is, again, you knew, something which is alream Area of ​​Engagement Betw een our two countries, and this is something the mou will take forward some ofThose DiscussionS Which are in the Commercial Space, Marry Them Into What The Two Governters can do asblers so that the commercial partnership Culture, Agriculture Production, and the Related Elements of Food Security Can Expand. Sahil, on the Digital PART, On the Fintech part, there are onGoing Discussions Between The Two Countries with Regard to Utilizing the UPI Stack A Potential Corresponding Digital Stac. K in the OMANESE ECOSYSTEM. There are also Other Elements of India Stack in Terms of the Digital Infrastructure Which is there, (Which can be suitable to the omanese priorities with regard to use. Now. IT, but the interface of upi with the corresponding Oman Platform is some talk about. Since ReferenceTo digitech and, you know, trade and capital cooperation has come up, I Should Also Highlight that Another Element where we will try and move f Orble Would Be WHETHER, you know, there is a possibility to look at the rupee which can workBetween the two countries, but this is strong at an exploratory stage, but can be an imageant element of coopration.

We have some more questions. OKAY, Sudhi.

Sir, Sudhi Ranjan from Bloomberg, Sir. Any UndersTanding that you can give us on whether and oman ... A Long-Term or Short-Term Contract on Energy s, sir?

Energy? Yes. There was one more hand. Yeah, kallol.

Kallol from the hindu. Sir, I would like to know if during the converted the problem of Maritime Security in the Nearby Areas of Oman Was Raised, Espect AUSE The Maersk hasnounded that it has been movement of its container ships through the red sea.

Sandhya from et. I just want to know a bit more on the ICT Collaboration. Sir there are any steps to know of color, K YOU.

Sir, you talked about the cepa, so I just wanted to know, is this the cepa or are we also talking about india GCC fta?

The last one first, the discussions between the two leaders focused esntially on bilateral comprehensive eConomic partnership arrangement. Term Contract on Energy, As I MenTioned in my Opening Remarks Also, in Terms of Our PARTNERSHIP in Energy,We Already have a very strong and Robust Basis of Partnership. In TODAY's Discussion, Besides Streangthening that Cooperation Across the Existing Field of Energy, TWO Elements of Strong Focus in the Discussions Wee in the Field of Renewables, Including Solar, and All Green Hydrogen.Both CountryS AS A Shared Priority in Terms of Building Their Own Respective Ecosystems, but also to look at coopy SE TWO ECOSYSTEMS.

On the information technology part, essentially the four or fire key elements of the edcly, one, an element of digitization, whit I spoke a Bout, Two, E-Governance, Which is Spread Across Both Public Sector Governance, But Also inthe private bodies, three, the exchange of best practices in the field of information technology, four, are there any basis for us to strengthen and deepen further our exchange of skilled IT professionals between the two countries. Some of this can…well, notMentioned in the mou, but indirectly lead to the point that you referred to, the whild is the startup collaboration between the two countries, and of countries. l development of it industry. The underlying thrust alsous to focus on Innovation Cooperation in the area,And naturally startup is a key element of that inNovation Partnership.

Kallol, to your question, you know, as I said Earlier on Also that the developments in the region in terms of the body conflict, the derivative image of the. ONGOING Conflict, Each of Those Elements Did Come up for Discussion Between The Two Leaders,And they did share their painted and shared their content on the developments and also the challenges that through developments throw up. We are anyway. Y Monitoring What's Happening to what you alluded to, and ... but that's something on whiteexchanging views on that.

Thank you very much, size you also to secondary (CPV) as well as js (Gulf) and our ambassador. THANK You for Joining usJaipur Wealth Management. updates on this visit. Thank you.


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