Mauritius signed a Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with India
On 22nd February 2021, Mauritius signed a Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with India.
The CECPA represents an important milestone in the trade and economic relationship between Mauritius and India, providing access to a market of more than 1.3 billion inhabitants to Mauritius.
The 3 key components of the Agreement are: Trade in Goods, Trade in Services and Economic Cooperation. Mauritius is set to benefit from preferential market access on a list of 615 products, including:
- Duty free access on 376 products
- 40 000 tons at 10% duty compared to 100% duty on special sugar
- 2 million litres of beer at 50% duty, compared to 150% duty
- 5 million litres on rum at 50% duty compared to existing duty of 150%
- 5000 litres at 50% duty compared to current duty of 150% on Fruit Wine
- 5 million pieces duty free on Garments
- 7000 tons duty free access on canned tuna
Mauritius on the other hand, will provide preferential access on 310 products, with Tariff Rate Quotas on 88 products which limit the volume or value of preferential imports from India to protect the domestic industry.
Regarding services, market access in sectors such as financial services, tourism, education, distribution, ICT and professional services will be facilitated by the CECPA.
The chapter on Economic Cooperation provides a framework for cooperation in 25 key areas including manufacturing, pharmaceutical, ICT, financial sector, blue Economy, SME development and joint strategies for investment in Africa.
Mauritius and India are committed to conclude consultations on the Economic Cooperation chapter within the next two years.