1. Oman Economy الاقتصاد العماني

4. Vision 2020 As per its plan ‘Vision 2020’, the Government of Oman is committed to reduce the dependency on oil revenues to around 19% by 2020 and diversify the economy to sustain beyond depletion of oil reserves. The plan is focus more on various sectors by developing competitive business and investing heavily in efficient manpower and sound infrastructure. Quantitative indicators of GDP structure in 2020:

8. Vision 2020 – Key Strategies Implementation of Free Trade Agreement (FTA) Oman has implemented US-Oman FTA and GCC-Singapore FTA, which provides tariff elimination eventually, to make each party’s goods more competitive compared to other foreign imports. Upon entry into force of the United States-Oman Free Trade Agreement (FTA) on January 1, 2009, Oman provided immediate duty-free access on virtually all industrial and consumer products in its tariff schedule duty-free access for U.S. agricultural products in 87 percent of agricultural tariff lines. Oman will phase out tariffs on the remaining products within 10 years. The agreement also provides for substantial market access across Oman's entire services regime, a secure, predictable legal framework for U.S. investors operating in Oman, an effective enforcement of labor and environmental laws, and enhanced protection of intellectual property. Process underway for 2 more FTA between EU-GCC and India-GCC, which will further bolster trade and create business opportunities between Oman and other regions.