(4 minutes read)
· Alan Ganoo, Minister of Foreign Affairs, Regional Integration and International Trade of Mauritius said that Mauritius can be the gateway for Indian businesses to access opportunities in the African continent
· The new African continental free trade agreement (AfCFTA), he said, could be a game changer in catalyzing India’s trade and investments in the continent
· Mauritius, the minister said, has duty free access to 600 million consumers being a part of Comesa (Common Market for Eastern and Southern Africa) and SADC (South African Development Community).
Alan Ganoo, Minister of Foreign Affairs, Regional Integration and International Trade of Mauritius said that Mauritius can be the gateway for Indian businesses to access opportunities in the African continent. The new African continental free trade agreement (AfCFTA), he said, could be a game changer in catalyzing India’s trade and investments in the continent.
The minister, while speaking at a an event organized by the PHD Chamber of Commerce of Commerce and Industry, New Delhi said that there was growing interest among Indian businesses to access opportunities in the African continent. He also said that India-Mauritius trade agreement was the first that India signed with an African country and invited Indian businessmen to invest in his country by moving part of their manufacturing processes to Mauritius for catering to the African market.
Mauritius, the minister said, has duty free access to 600 million consumers being a part of Comesa (Common Market for Eastern and Southern Africa) and SADC (South African Development Community). Also, the African Continental Free Trade Agreement which came into force on 1 January this year opened up trade and investment opportunities of a much larger market of 1.3 billion consumers.
The comprehensive economic cooperation agreement (CECPA) between India and Mauritius came into force on 1 April. The CECPA covers 310 Indian export items, including food and beverages, agricultural products, textiles, base metals, electrical and electronic items, plastics and chemicals and products made of wood. Mauritius has preferential market access to India for 615 products such as frozen fish, speciality sugar, biscuits, fresh fruits, juices, mineral water, beer, alcoholic drinks, soaps, bags, medical and surgical equipment, and apparel.
