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· Indian cabinet recently approved signing of a comprehensive economic cooperation agreement, between India and Mauritius which is aimed at liberalizing norms to boost two-way trade and economic cooperation
· The Cabinet approved the signing of the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between India and Mauritius, which will cover 310 export items for India
· Mauritius would have preferential market access into India for 615 products, including frozen fish, specialty sugar, biscuits, fresh fruits, juices, mineral water, beer, alcoholic drinks, soaps, bags, medical and surgical equipment, and apparel
Indian cabinet recently approved signing of a comprehensive economic cooperation agreement between India and Mauritius which is aimed at liberalizing norms to boost two-way trade and economic cooperation.
The Cabinet approved the signing of the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between India and Mauritius, which will cover 310 export items for India, including foodstuff and beverages, agricultural products, textile and textile articles, base metals, electrical and electronic items, plastics and chemicals, wood and its articles.
In the meantime, Mauritius would have preferential market access into India for 615 products, including frozen fish, specialty sugar, biscuits, fresh fruits, juices, mineral water, beer, alcoholic drinks, soaps, bags, medical and surgical equipment, and apparel. A mutually convenient date would be finalized for signing of the agreement. Incidentally, this is the first time India will be signing a trade pact with an African nation. The comprehensive pact will also cover trade in goods, rules of origin, and trade in services, Technical Barriers to Trade (TBT), Sanitary and Phytosanitary (SPS) measures, dispute settlement, movement of natural persons, telecom, financial services, customs procedures and cooperation in other areas.
The two-way trade between the countries has been dipped to US$ 690 million in 2019-20 from US$ 1.2 billion in 2018-19. India’s exports in 2019-20 aggregated at US$ 662 million, while the imports stood at US$ 27.89 million. India exports petroleum products, pharmaceuticals, cereals, cotton and electrical machinery, apparel and clothing accessories to the Island Nation.. India’s imports from Mauritius include iron and steel, pearls, precious/semi-precious stones and optical, photographic and precision instruments. Mauritius was the second top source of foreign direct investment (FDI) into India in 2019-20. India received US$ 8.24 billion foreign inflows from that country in the last fiscal.
