Comprehensive Economic Partnership Agreement (CEPA)
The Union Cabinet has approved Comprehensive Economic Cooperation and Partnership Agreement- CECPA, (CEPA) between India and Mauritius.
The CECPA (CEPA) agreement, signed by India-Mauritius, will be the first trade agreement by India with a country based in Africa.
Key Points – CEPA:
It is a limited agreement that will cover only few 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.
In simple terms, CECPA will act as an institutional mechanism to encourage and improve trade between the two countries.
India and Mauritius have agreed to negotiate an Automatic Trigger Safeguard Mechanism (ATSM) for some highly sensitive products within two years of the signing of the agreement.
It is important to note that since 2005, India has been one of the largest trading partners of Mauritius and one of the largest exporters of goods and services to Mauritius.
Source – The Hindu