WIIT
Ambassador Series: The U.S.-Oman Free Trade Agreement; Implications for Oman
and Women
On December 6th, 2006, the Africa and Middle East committee
hosted the first event of a newly launched Ambassador Series. "The U.S.-Oman
Free Trade Agreement - Implications for Oman and Women in Oman" featured
H.E. Hunaina Al-Mughairy, Ambassador of the Sultanate of Oman to the United
States. The event was hosted at the offices of Baxter Healthcare Corporation
in downtown Washington, DC. It was attended by over twenty business and trade
professionals.
The U.S. Oman-Free Trade Agreement (FTA) was signed into law on September, 2006. The FTA was preceded by Trade and Investment Framework Agreement (TIFA) in 2004. FTA negotiations began in April of 2005, and by October of that same year, the Office of the U.S. Trade Representative and the Minister of Commerce of Oman had successfully concluded negotiations. An agreement was reached after only two rounds of negotiations, making it the shortest negotiation of this kind, according to H.E. the Ambassador.
Ambassador Mughairy described the signing of the FTA as a benchmark for other gulf countries to follow in economic growth and openness to trade and promote growth in the gulf region. Although bilateral trade between the U.S. and Oman is small relative to Oman's overall trade volume, the FTA is part of a modernization plan set forth by His Majesty the Sultan in "vision 20/20" that targets ambitious economic growth rates by the year 2020. Ultimately, the FTA will serve as a vehicle to prove to the U.S. that the Sultanate of Oman boasts a quality investment climate and to stimulate U.S. investment in the country. In addition, H.E. the Ambassador is confident that the agreement will also promote the opportunities and rights of Omani women.
Her Excellency explained that women in Oman enjoy equal rights to education and employment as men, and stressed that women earn the same salary as their male counterparts. Oman has two women ambassadors, four ministers, and two undersecretaries, among hundreds of other women in high level and official positions. Further, Ambassador Mughairy stressed, half of Oman's workforce is made up of women. Her Excellency expressed her hopes for women all over the world to become actively involved in participating in the development of their societies
The speech was followed by a lively and cordial discussion between Her Excellency and the attendees. Additional comments were made by Mr. Chuck Dittrich, from the National Foreign Trade Council at the Office of the U.S. Trade Representatives and Ms. Marleine Davis, Director of Operations at the U.S. Arab Chamber of Commerce.
Coming soon! Look out for the next event of the Ambassador Series featuring His Excellency Karim Kawar, Ambassador of the Hashemite Kingdom of Jordan.