Indo-Mauritius CECPA likely to be signed by end of this year: Vice President

PTI

The proposed Indo-Mauritius Comprehensive Economic Cooperation and Partnership Agreement is expected to be signed later this year as both countries finalised the areas of exchange, Vice-President of Mauritius Paramasivum Pillay Vyapoory said today.

"Implementation of the CECPA between the two countries is likely to be signed by the end of this year," Vyapoory said at the Bengal Chamber of Commerce & Industry.

He said that the two sides had agreed upon the areas where the agreement would be implemented.

"Areas which have been identified are financial services, ICT, health, education, R&D and construction," Vyapoory said.

He said that the agreement would lead to an expansion of trade on both sides and enhanced investment besides enhanced economic relation.

Sectors which offered investment opportunities to Indian companies were ICT and BPO, banking services and insurance.

"Investments in Mauritius will give Indian companies preferential market access to USA and to Africa through the COMESA," he said.

Regarding the Direct Tax Avoidance Convention (DTAC) between India and Mauritius, he said that it was due to this agreement that the cumulative equity inflow to India till April, 2015 was to the tune of $87 bn.

He said that India had extended several lines of credit to Mauritius, the last one being $500 million announced by Prime Minister Narendra Modi in March, 2015.

Mauritius is also ready to offer financial incentives to the Indian film industry, he says.