The two countries recently held the 1st session of the Indo-Mauritius Joint Trade Committee in New Delhi. The meeting was co-chaired by Srikar K Reddy, Joint Secretary, Indian Department of Commerce, and Narainduth Boodhoo, Trade Policy Director for Regional Integration and International Trade, Ministry of Foreign Affairs, Mauritius.
Merchandise trade between India and Mauritius increased to $786.72 million in the 2021-22 financial year from $690.02 million in the 2019-20 financial year. The two sides recently agreed to enhance their collaboration to further increase bilateral trade and realize the true potential of the relationship, especially within the framework of the India-Mauritius Comprehensive Cooperation and Economic Partnership Agreement.
The committee had been constituted in accordance with the terms of reference 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 an African country.
The two parties have agreed to include the General Economic Cooperation (GEC) chapter and Automatically Triggered Safeguard Mechanism (ATSM) in the CECPA, according to an official statement from the Government of India.
The GEC chapter will improve the competitiveness of exports and expand the scope of existing collaboration in the areas of investment, financial services, textiles, small and medium-sized enterprises, handicrafts, port infrastructure and renewable energies, among other sectors.
The two parties have expressed their willingness to conclude a Customs Mutual Administrative Assistance Agreement (CMMA) and have agreed to start discussions on this subject soon.
Fibre2Fashion (DS) News Desk