OFTA meaning in Business ?

Answer:

What is United States - Oman Free Trade Agreement mean?

The U.S.-Oman Free Trade Agreement is a trade pact between Oman and the United States. On November 15, 2004, the George W. Bush administration notified the U.S. Congress of its intent to sign a trade agreement with the Middle Eastern Sultanate of Oman. On January 19, 2006 the two countries signed the U.S.-Oman Free Trade Agreement (OFTA), which is part of the Bush administration's strategy to create a US - Middle East Free Trade Area (MEFTA) by 2013.

On June 29, 2006, the U.S. Senate passed OFTA by a vote of 60-34, the fewest "aye" votes in the Senate of any trade bill other than CAFTA. On July 20, 2006, the U.S. House of Representatives passed OFTA by a vote of 221-205, with 7 abstentions. For procedural reasons, the Senate took a second vote on September 19, 2006, and the bill's implementing bill was passed 62-32, with 6 abstentions. In all, the Senate approved the bill 63-37, since all senators voted either "aye" or "nay" in one of the two votes.

George W. Bush signed the bill into law on September 26, 2006.And on December 29, 2008 signed the proclamation to implement the agreement with effective date of January 1, 2009.

reference

Full Form	Category
United States - Oman Free Trade Agreement	Business
Offshore Financial Trade Association	Business
Outreach For The Animals	Community
Old Fellows Tennis Association	Community
Online Film Television Association	Community
Old Friends Talk Arts	Community
Online Film and Television Association	Community
Oklahomans For The Arts	Community
Onsite First Time Assembly	Computing
Office for the Ageing	General
Oman Free Trade Agreement	General
Omaha Food Truck Association	General
Oregon Food Truck Association	General
Office of the Telecommunications Authority, Hong Kong	Governmental