New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi has approved the signing of Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between India and Mauritius.
The India-Mauritius CECPA is the first trade agreement to be signed with any African country. The agreement is a limited agreement relating to trade in goods, basic regulations, trade in services, technical barriers to trade (TBT), sanitation and plant hygiene (SPS) measures, dispute settlement, movement of citizens, telecommunications, financial services is. Customs will cover procedures and cooperation in other areas.
The CECPA provides an institutional mechanism to encourage and improve trade between the two countries. The CECPA between India and Mauritius comprises 310 export items to India – Food and Beverages (80 lines), Agricultural Products (25 lines), Textiles and Textile Products (27 lines), Base Metals and Products (32 lines), Electrical Electronic products (13 lines), plastics and chemicals (20 lines), wood and wood products (15 lines) and others. 615 products to Mauritius; Access to the Indian market on a priority basis for frozen fish, special types of sugar, biscuits, fresh fruits, juices, mineral water, beer, alcoholic beverages, soaps, bags, medical and surgical instruments and apparel. Will benefit
With regard to service-trade, addressing 11 broad service areas such as professional services, computer-related services, research and development, other business services, telecommunications, manufacturing, distribution, education, environment, financial, tourism and services to Indian service providers Necessary. Travel related, entertainment. , Access to about 115 sub-sectors under Yoga, audio-visual services and transport services etc.
India has offered around 95 sub-sectors under 11 broad service sectors, including professional services, R&D, other business services, telecommunications, financial, distribution, higher education, environment, health, tourism and travel related services, entertainment services. And transportation services. .
The two sides have also agreed to negotiate an Automatic Trigger Protection Mechanism (ATSM) for a limited number of highly sensitive products within two years of signing the agreement.
The agreement will be signed between the two countries on a mutually convenient date which will come into force from the first of next month.
India and Mauritius have excellent bilateral relations, strengthened by historical cultural affinity, strong high level political contacts, development cooperation, defense and maritime partnerships and mutual relations between the two countries.
Mauritius is an important development partner of India. India gave Mauritius a ‘special economic package’ of $ 353 million in 2016. The new construction project of the Supreme Court is one of the five projects to be implemented under this package and was jointly inaugurated by Prime Minister Shri Narendra Modi and the Prime Minister. Mauritius Mr. Praveen Jagannath in July 2020. In October 2019, Prime Minister Shri Narendra Modi and the Prime Minister of Mauritius jointly inaugurated the Metro Express Project, Phase-I and 100-bed state-of-the-art ENT hospital built in Mauritius. Part of a special economic package.
Since 2005, India has been one of the largest trading partners in Mauritius and one of the largest exporters of goods and services in Mauritius. According to the International Trade Center (ITC), in 2019, Mauritius’ main import partners were India (13.85 percent), China (16.69 percent), South Africa (8.07 percent) and the UAE (7.28 percent). Bilateral trade between India and Mauritius increased from $ 206.76 million in FY 2005-06 to $ 690.02 million in FY 2019-20 and registered an increase of 233 percent. India’s Mauritius exports increased from $ 199.43 million in FY 2005-06 to $ 662.13 million in FY 2019-20, registering an increase of 232 percent. India’s imports from Mauritius increased from $ 7.33 million in 2005-06 to $ 27.89 million in FY 2019-20 and registered a growth of 280 percent.
India-Mauritius CECPA will further strengthen the already deep and separate relations between the two countries.