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.
Exports
Oman is currently the 70th largest export market for U.S. goods. U.S goods exports in 2008 were $1.4 billion, up 33.6 percent from the previous year.
Imports
U.S. imports of goods from Oman were $852 billion, down 18.2 percent. The U.S. goods trade surplus with Oman was $563 million in 2008, an increase of $545 million from $18 million in 2007.
