Overview
Oman became a member of the World Trade Organization (WTO) in 2000, committing to international trade rules that promote open markets, reduce trade barriers, and provide a framework for resolving trade disputes. WTO membership required Oman to align its trade policies, tariff structures, and regulatory frameworks with international standards, including commitments on intellectual property protection, services liberalization, and customs procedures. Oman also maintains bilateral and multilateral trade agreements including a free trade agreement with the United States, which entered into force in 2009. These trade arrangements provide Omani exporters with preferential access to key markets and signal the Sultanate’s commitment to an open economic model.
Key Facts
- WTO member since 2000
- Committed to international trade rules on tariffs, services, and intellectual property
- Free trade agreement with the United States since 2009
- Participant in GCC-level trade negotiations with trading partners
- Customs procedures aligned with WTO Trade Facilitation Agreement
- Supports the multilateral trading system and dispute resolution mechanisms
- Trade openness index among the higher-ranked globally
Significance for Vision 2040
WTO membership and trade agreements are integral to Vision 2040’s export-led growth strategy. The rules-based trading environment that WTO membership provides gives Omani exporters predictability and protection in international markets. The US-Oman Free Trade Agreement offers duty-free access to the world’s largest consumer market for qualifying Omani products, which is particularly valuable for manufactured goods, processed food, and petrochemicals. Vision 2040’s emphasis on developing non-oil exports requires reliable market access, and trade agreements provide this foundation. WTO compliance also disciplines domestic regulatory reform in ways that improve the overall business environment, as transparency, non-discrimination, and predictability in regulation attract foreign investment and support private sector development.