Japan & Oman Sign New Investment Agreement

Japan and Oman have taken another bold step in strengthening ties between the two countries by penning a new investment agreement, with the terms of such agreement to come into fruition in the next few months according to Japan’s ambassador to the Sultanate. The objective of the agreement is to reduce the barriers to trade and investment between the two nations and allow Japan to increase investment in the Middle Eastern economy. Oman follows a string of other Middle Eastern nations to have signed investment agreements with Japan, including Kuwait, Turkey, Egypt, Iraq & Saudi Arabia.

Types of Agreements

In ratifying the investment agreement, Japan and Oman must follow the terms and conditions which have been outlined in order to ensure an improvement in growth. Some of these agreements include:

1. Tax – a section of the agreement relates to a “Japan-Oman Tax Agreement”, which has been implemented in order to…