Mauritius expresses interest for FTA with India
6 July 2012
Mauritius on Friday expressed interest to start talks for a free trade agreement with India.
"I am glad to say that we will move the process forward with respect to discussion on free trade agreement and later on to comprehensive economic partnership agreement," Mauritius Foreign Minister Arvin Boolell told reporters in New Delhi.
The visiting minister said that trade and economic relations between the two countries are constantly gaining momentum.
The agreement, if signed, would liberalise trade in goods and services and facilitate investments.
With a bilateral investment promotion treaty and a double taxation agreement already in place, the island nation has been the largest source of foreign direct investment inflow to India.
In 2011-12, Mauritius contributed 38 per cent in the country’s total FDI of $36.5 billion.
India received $9.94 billion FDI from Mauritius during the period.
The bilateral trade between the nations in 2010-11 stood at a modest $818 million.
India is negotiating over a dozen free trade pacts with countries like Australia [ Images ], New Zealand [ Images ], Indonesia and Canada [ Images ].