Comprehensive Economic Cooperation And Partnership Agreement (CECPA) Between India And Mauritius:
The Union Cabinet has approved the signing of the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between India and Mauritius.
- The India-Mauritius CECPA is the first trade agreement signed by India with a country in Africa.
About CECPA :
- It is a kind of free trade pact that aims to provide an institutional mechanism to encourage and improve trade between the two countries.
- Under this agreement, countries reduce or eliminate the duties on the products. The countries also give relaxation in the norms to promote the services trade.
- It is a limited agreement that will cover only select sectors. It will cover Trade in Goods, Rules of Origin, Trade in Services, Technical Barriers to Trade (TBT), Sanitary and Phytosanitary (SPS) measures, Dispute Settlement, etc.
- The benefit to India: More than 300 domestic goods from agriculture, textiles, electronics, and other sectors will get market access at concessional customs duties in Mauritius.
- Indian service providers will have access to around 115 sub-sectors from the 11 broad service sectors, such as professional services, computer-related services, research & development, other business services, etc.