Home > Uncategorized > India and Mauritius Agreement

India and Mauritius Agreement

February 27th, 2022

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. 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. 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. Several Indian products will benefit from better market access from preferential tariffs in Mauritius as the free trade agreement signed between the two countries will enter into force on April 1, the Ministry of Commerce said on Wednesday. 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. 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. Details about the CECPA between India and Mauritius can be found from 01. April 2021 on the following link: commerce.gov.in/international-trade/trade-agreements/ India and Mauritius signed a $100 million defense loan agreement on Monday.

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. “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 the expansion of major businesses and investments,” Jaishankar said in a message after signing the agreement. 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 india@dezshira.com to get business support in India.

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. Jugnauth said the agreements signed on Monday would further “cement” the “strong ties” 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. 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 Trade Pact is India`s first such agreement since 2011. Announcing the signing in Port Louis, Indian Foreign Minister S. Jaishankar said the CECPA “will give a timely boost to the recovery of our post-Covid economies and allow 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.

“I have assured the Indian Prime Minister of firm and principled support on this issue, as has been demonstrated in the past,” Jaishankar said. On the other hand, India offered about 95 sub-sectors of the 11 major service sectors, including R&D, telecommunications, finance, distribution, higher education, environment, health and transport services. With regard to exports to India, tariff quotas are allocated to Mauritian exporters on the basis of criteria clearly defined by a committee under the auspices of the Ministry of Foreign Affairs, Regional Integration and International Trade, composed of representatives of the public and private sectors. 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. Press Trust of India | New Delhi Last updated on 1 April 2021 03:41 India and Mauritius signed the Comprehensive Agreement on Economic Cooperation and Partnership (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. CECPA will provide Indian exporters and companies with a gateway to increase their investment and business interests on the African continent. The CECPA between India and Mauritius is broad and covers a wide range of tasks, including 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, aid measures, etc. 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. India was one of 116 countries that voted for the UK to end its “colonial administration” of the archipelago. . Detailed information on TRQs will be published on the MRA website. . 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. Mr.

Jaishankar also reviewed the status of India-supported development projects in Mauritius and invited Mr. Jugnauth to go to India. 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. Timetables: The agreement will enter into force at an early stage. The CECPA between India and Mauritius will further strengthen the already deep and special relations between the two countries. Mauritius will have preferential access to the Indian market and will be allowed to export 40,000 tonnes of sugar, 7.5 million garments, 1.5 million litres of rum and 2 million litres of beer per year. Stock market trends and stories that could hold the money for retail investors in 2022 India had sent 100,000 doses of Made-in-India COVID vaccine to Mauritius in January and handed over another 100,000 doses. Jaishankar said the delivery of the vaccine was a “clear and insightful demonstration” of bilateral relations.


Categories: Uncategorized Tags:
Comments are closed.