India-Mauritius CECPA enters into force today -

India-Mauritius CECPA enters into force today

The India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA), signed by both countries on February 22, 2021, has entered into force from today. The CECPA is the first trade Agreement signed by India with a country in Africa. It will provide greater market access for several Indian products at concessional duties in Mauritius.

“Both sides have completed their internal legal procedures and the India-Mauritius CECPA will enter into force on Thursday, 01 April 2021,” India’s ministry of commerce and industry said in a statement.

The CECPA 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, Movement of Natural Persons, Telecom, Financial services, Customs Procedures, and Cooperation in other Areas.

The India-Mauritius CECPA provides for an institutional mechanism to encourage and improve trade between the two countries. It covers 310 export items for India, including textile and textile articles (27 lines), agricultural products (25 lines), food stuff and beverages (80 lines), base metals and articles thereof (32lines), electricals and electronic item (13 lines), plastics and chemicals (20 lines), wood and articles thereof (15 lines), and others.

Mauritius will benefit from preferential market access into India for its 615 products, including apparel, frozen fish, speciality sugar, biscuits, fresh fruits, juices, mineral water, beer, alcoholic drinks, soaps, bags, and medical and surgical equipment.

As regards trade in services, 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, telecommunication, construction, distribution, education, environmental, financial, tourism & travel related, recreational, yoga, audio-visual services, and transport services.

India has offered around 95 sub-sectors from the 11 broad services sectors, including professional services, R&D, other business services, telecommunication, financial, distribution, higher education, environmental, health, tourism and travel related services, recreational services and transport services.

Indian exporters have to obtain a Certificate of Origin (CoO) from the authorised Indian agencies to avail the preferential benefits under the CECPA. The online application for CoO for the India-Mauritius CECPA can be made through the common digital platform for issuance of certificate of origin of the Directorate General of Foreign Trade (DGFT), department of commerce.

Fibre2Fashion News Desk (RKS)

Twenty-seven lines of textile and textile articles from India will enjoy greater market access at concessional duty in Mauritius beginning today, while apparel from the African nation will enjoy a similar benefit while exporting to India, as the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA), enters into force.

Source link

Subscribe to Infrabuddy Newsletter