India-Mauritius merchandise trade worth $786.72 mn in FY22

05 Aug '22

2 min read

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India-Mauritius merchandise trade rose to $786.72 million in fiscal 2021-22 from $690.02 million in fiscal 2019-20. Both sides recently agreed to enhance collaboration to further increase bilateral trade and realise the true potential of the relationship, especially under the India-Mauritius Comprehensive Economic Cooperation and Partnership agreement (CECPA).

Both the countries recently held the 1st session of India-Mauritius High-Powered Joint Trade Committee in New Delhi. The meeting was co-chaired by Srikar K Reddy, joint secretary in the Indian department of commerce, and Narainduth Boodhoo, director of trade policy for regional integration and international trade at Mauritius’ ministry of foreign affairs.

The committee had been constituted as per the mandate of the CECPA, which entered into force on April 1, 2021, to review its general functioning and implementation. The CECPA is the first trade agreement signed by India with a country in Africa.

Both sides agreed to the inclusion of the general economic cooperation (GEC) chapter and automatic trigger safeguard mechanism (ATSM) in CECPA, according to an official release from the Indian government.

The GEC chapter will enable enhancement of export competitiveness and enlarging the existing scope for collaboration in investment, financial services, textile, small and medium enterprises, handicrafts, port infrastructure and renewable energy among other sectors.

Both the sides expressed willingness to enter into a Customs Mutual Administrative Assistance Agreement (CMMA) and agreed to initiate discussions on that soon.

Fibre2Fashion News Desk (DS)

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