India-Mauritius CECPA nears finalisation

04 Jan '20
1 min read
Pic: Shutterstock
Pic: Shutterstock

India is close to finalising a proposed India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with Mauritius, with seven rounds of negotiations to improve market access between the two sides having been completed, the Indian ministry of commerce and industry said recently. CECPA seeks to mutually benefit both countries.

The negotiations have focussed on various aspects including trade in goods, trade in services, rules of origin, technical barriers to trade and sanitary and phyto-sanitary (SPS) measures, trade remedies and dispute settlement, the ministry said.

“India- Mauritius CECPA negotiations for trade in goods and trade in services, have been completed. The agreement is near finalisation,” Indian media reports quoted the ministry as saying.

India had a trade surplus of around $1.09 billion with Mauritius in 2018-19. Mauritius was the second top source of foreign direct investment into India in 2018-19. India received $8 billion in inflows from the country.

India exports petroleum products, pharmaceuticals, cereals, cotton and electrical machinery, apparel and clothing accessories to Mauritius.

The island nation’s exports to New Delhi include iron and steel, pearls, precious/semi-precious stones and optical, photographic and precision instruments.

Fibre2Fashion News Desk (DS)

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