Cabinet approves Comprehensive Economic Cooperation and Partnership Agreement between India and Mauritius

Source: AP

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the signing of the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between India and Mauritius, an official statement said.

It is aimed at liberalising norms to boost two-way commerce between the countries.

The India-Mauritius CECPA will be the first trade agreement to be signed by India with a country in Africa.

It a limited agreement, which will cover Trade in Goods, Rules of Origin, Trade in Services, Technical Barriers to Trade (TBT), Sanitary and Phytosanitary (SPS) measures, Dispute Settlement, Movement of Natural Persons, Telecom, Financial services, and Customs Procedures and Cooperation in other areas.

The CECPA between India and Mauritius covers 310 export items for India, including foodstuff and beverages, agricultural products, textile and textile articles, base metals and articles, electricals and electronic items, plastics and chemicals, and wood.

Mauritius will benefit from preferential market access into India for its 615 products, including frozen fish, speciality sugar, biscuits, fresh fruits, juices, mineral water, beer, alcoholic drinks, soaps, bags, medical and surgical equipment, and apparel.

A mutually convenient date would be finalised for the signing of the agreement, after which it will be implemented from the first date of the following month.

India has offered around 95 sub-sectors from the 11 broad services sectors, including professional services, R&D, other business services, telecommunication, financial, distribution, higher education, environmental, health, tourism and travel-related services, recreational services and transport services.

The bilateral trade between India and Mauritius has registered a growth of 233 percent from $206.76 million in Financial Year (FY) 2005-06 to $690.02 million in FY 2019-20.

While India's exports in 2019-20 stood at $662 million, the imports stood at $27.89 million.