Trade Agreement between India and Mauritius

In such an agreement, two trading partners reduce or eliminate tariffs on a variety of products and liberalize standards to promote trade in services. With regard to trade in goods, Mauritian exporters will benefit from preferential market access for a list of 615 products as follows: The India-Mauritius CeCPA is broad and covers a wide range of tasks covering trade in goods, trade in services, non-tariff measures and technical barriers to trade, sanitary and phytosanitary measures, trade facilitation, investment, technical regulations, customs procedures, rules of origin, dispute settlement, trade remedies, etc. Several Indian products will benefit from the advantage of better market access for concessional tariffs in Mauritius, as the free trade agreement signed between the two countries will start on the 1st. April will come into effect, the Commerce Ministry announced on Wednesday. India and Mauritius on Monday signed an agreement on $100 million in defense credit lines. It was part of several agreements, including the Comprehensive Agreement on Economic Cooperation and Partnership (CECPA), which was signed between the two countries during the ongoing visit of Foreign Minister S. Jaishankar. The Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between Mauritius and India, signed on 22 February this year, entered into force on 1 April 2021. Jugnauth said the agreements signed on Monday would further “cement” the “strong ties” between India and Mauritius. India and Mauritius signed the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) on 22 February 2021. The CECPA is the first trade agreement that India has signed with an African country. Both sides have completed their domestic legal proceedings and the India-Mauritius CECPA will enter into force on Thursday, 1 April 2021. It added that Indian exporters must obtain a certificate of origin from the approved Indian authorities in order to benefit from the preferential advantages of the agreement.

The landmark trade agreement also covers bilateral trade in services, which includes business services, educational services, communications, construction, environmental services, distribution services, financial, health and social services, recreation, cultural and sports services, transport services, and travel and tourism services. Details of the India-Mauritius CECPA are available from 01. April 2021 at the following link: THE India-Mauritius CECPA provides an institutional mechanism to promote and improve trade between the two countries. The CECPA between India and Mauritius covers 310 export items for India, including food and beverages (80 lines), agricultural products (25 lines), textiles and textiles (27 lines), base metals and their products (32 lines), electrical and electronic products (13 lines), plastics and chemicals (20 lines), wood and their articles (15 lines) and others. Mauritius will benefit from preferential access to the Indian market for its 615 products, including frozen fish, sweet specialties, biscuits, fresh fruit, juices, mineral water, beer, alcoholic beverages, soaps, bags, medical and surgical equipment and clothing. “I am privileged to attend, together with Prime Minister Pravind Kumar Jugnauth, the signing of the Comprehensive Economic Cooperation and Partnership Agreement, India`s first such agreement with an African country. [This] will help focus on the post-pandemic economic recovery. Enable business expansion and increase investment,” said Herr. Jaishankar in a message after signing the agreement. With regard to trade in services, Indian service providers will have access to about 115 subsectors of the 11 major services sectors, such as.

B professional services, computer services, research and development, other business services, telecommunications, construction, distribution, education, environment, finance, tourism and travel, leisure, yoga, audiovisual services and transport services. India offered about 95 sub-sectors of the 11 major service sectors, including professional services, R&D, other business services, telecommunications, finance, distribution, higher education, environment, health, tourism and travel services, leisure and transport services. The two countries also signed a $100 million Defence Line of Credit (LOC) agreement to help Mauritius procure defence equipment from India. India will also lease a Dornier aircraft and the Dhruv Advanced Light Helicopter (HAL Dhruv) to Mauritius for a period of two years free of charge, allowing the nation to better patrol and monitor its vast maritime domain. The agreement is a limited agreement covering trade in goods, rules of origin, trade in services, technical barriers to trade (TBT), sanitary and phytosanitary (SPS) measures, dispute settlement, free movement of natural persons, telecommunications, financial services, customs procedures and cooperation in other areas. India and Mauritius signed the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) on 22 February. Security on the high seas is necessary, inter alia, for the proper functioning of international trade, and India strives to be an active provider of maritime peace and stability in the Indo-Pacific region. Through this agreement, Mauritius will be a key security partner for India in the region.

The exporter must present this certificate at the port of landing of the importing country. The document is important for the use of tariff concessions under a free trade agreement. It is important to prove where their goods come from. In terms of trade in services, India will grant Mauritius access to 95 subsectors of its 11 major services sectors. With regard to trade in services, India has committed to market access for about 94 services sectors, including professional services, business services, financial services and telecommunications services. The agreement also provides a framework for professional associations in both countries to negotiate the mutual recognition of educational and professional qualifications within one year of the entry into force of professional qualifications in the fields of architecture, engineering, medicine, dentistry, accounting and auditing, nursing, veterinary affairs and the business secretariat. This will give Mauritius a boost as an educational hub for Indian students. As for trade in services, Indian service providers will have access to about 115 sub-sectors such as professional services, COMPUTER services, research and development, telecommunications, construction, education, environment, finance, tourism, yoga and audiovisual media. On February 22, India signed its first free trade agreement (FTA) with Mauritius, its first such agreement with an African country.

This historic pact, known as the Comprehensive Economic Cooperation and Partnership Agreement (CECPA), will strengthen regional trade relations. India Briefing is produced by Dezan Shira & Associates. The company supports foreign investors across Asia from offices around the world, including Delhi and Mumbai. Readers can write to [email protected] to get business support in India. He reaffirmed India`s medical support, as evidenced by the recent shipment of 100,000 Covishield vaccines to Mauritius. The delivery of the vaccine is a “clear and revealing demonstration” of the relationship between the two countries, he said. The Trade Pact is India`s first such agreement since 2011. In announcing the signing in Port Louis, Indian Foreign Minister S.

Jaishankar, said cecpa “will give a timely boost to the recovery of our post-Covid economies and enable Indian investors to use Mauritius as a launching pad for business expansion in continental Africa to support Mauritius` prospect as an `African hub`.” He went on to say that since the services sector contributes to 76% of Mauritius` GDP, CECPA could facilitate Indian investment in the country`s services sector. Foreign Minister S. Jaishankar during his visit to Mauritius. | Photo: ITP tariff quotas for imports from India are granted on a first-come, first-served basis in accordance with the date and time of validation of the certificate of receipt presented for self-consumption and are managed by the MRA Customs Department. LIC IPO: As the “mother” of all Sebi topics, analysts and busy investors Mr. Jaishankar also reviewed the progress of India-backed development projects in Mauritius and invited Mr. Jugnauth to visit India. . The CECPA also includes a safeguard clause that can be triggered in the event of a sudden increase in imports to protect the local industry. “I have assured the Indian Prime Minister of firm and principled support on this issue, as has been demonstrated in the past,” Jaishankar said.

. Your email address will not be published. Mandatory fields are marked * The two sides also discussed the Dispute over the Chagos Archipelago, which was a matter of sovereignty and sustainable development before the United Nations. In 2019, India voted at the UN General Assembly to support Mauritius` position on the issue. .

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