The Omani people are very happy that they have just signed an investment framework agreement with the US to develop a free trade agreement. This should be developed rather quickly and the local Omanis hope the free trade agreement can be developed, passed, and ratified in 2005. This is rather small news for the US (with a population of under 3 million people, facilitating access to the Omani market is not going to greatly impact the States), but major news here (improved access to the largest market in the world is obviously big news).

The Omanis currently do not have much to export other than oil, natural gas, silver, and spices (such as frankincense and myrrh). However, they want this agreement for two reasons. They are both looking to the future and they want to keep up with the Jones. This is very important in Arabian culture and the Omanis are well aware that Bahrain has already signed a free trade agreement with the States.

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