The trade deal would provide a gateway to the markets of the African continent as Mauritius has several pacts with them
Mauritius already plays an important role as an investment entrepôt for the subcontinent. This likely makes Sino-Mauritian ties even more important for the rest of the continent to watch.
The Union Cabinet on Wednesday approved signing of a comprehensive economic cooperation agreement, a kind of a free trade pact, between India and Mauritius which is aimed at liberalising norms to boost two-way commerce.
China’s free trade agreement with the small island-nation of Mauritius came into effect in January, increasing the Asian powerhouse’s presence in the Indian Ocean where its regional rival India has long dominated.
China’s first FTA with an African country provides a stepping stone into the continent through the geopolitical hotspot Indo-Pacific region.
Deal will ‘vitalise cooperation between our two countries and strengthen China-Africa economic ties’, head of African affairs at Chinese foreign ministry says.
India is in the process of finalising the proposed free trade agreement with Mauritius which is aimed at further strengthening economic ties.
The proposed free trade agreement between India and Mauritius is nearing finalisation as both the sides have concluded the negotiations for the pact.
Mauritius wants to sign a free trade agreement with the Eurasian Economic Union "in the near future," Paramasivum P. Vyapoory, the acting president of the island nation said.
China and Mauritius signed a free trade agreement (FTA), the first FTA between China and an African country, according to the Ministry of Commerce (MOC).
Mauritius will sign a free trade agreement with China, it’s second biggest supplier, providing duty-free access to the Asian market for 8,547 products, the Prime Minister’s Office said in a statement on its website.
India and Mauritius are close to finalising the proposed bilateral free trade agreement that got delayed due to apprehensions amongst domestic players in both countries.
India and Mauritius discussed initiatives to strengthen bilateral ties including the early finalisation of the Comprehensive Economic Cooperation Partnership Agreement (CEPCA).
Mauritius is also holding negotiations for a similar pact with China, with which India has a huge trade deficit.
Both sides signed a memorandum of understanding on wrapping up the talks, leading to the first free trade agreement between China and an African country.
The FTA is expected to be finalised by the end of August this year. It will be signed in Beijing in September 2018.
Mauritius is the first African country that launched the FTA negotiations with China; MoU over the Belt and Road Initiatives is under negotiation.
India is hopeful that a bilateral trade agreement with the country could open the doors wider to the entire continent.
The three-day discussions comprise sessions on trade in goods and services; sanitary and phyto-sanitary measures; technical barriers to trade; requests lists; rules of origin and finalisation of economic cooperation chapter.
India and Mauritius has concluded the second round of negotiations for the proposed free trade agreement (FTA), aimed at boosting bilateral trade and investments.