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CECPA To Help Broaden Our Economic Horizons, States PM Jugnauth

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The Comprehensive Economic Cooperation and Partnership Agreement (CECPA) forum, being held in context of the commemoration of the 75th anniversary of the establishment of diplomatic relations between the Republic of Mauritius and the Republic of India, was launched this morning by the Prime Minister, Mr. Pravind Kumar Jugnauth, at Le Meridien, Pointe aux Piments.

The event is a collaboration of the Ministry of Foreign Affairs, Regional Integration and International Trade, the Ministry of Finance, Economic Planning and Development, the Economic Development Board (EDB) and the High Commission of India.

Various personalities including the Minister of Land Transport and Light Rail, Minister of Foreign Affairs, Regional Integration and International Trade, Mr. Alan Ganoo, the Minister of Finance, Economic Planning and Development, Dr Renganaden Padayachy, and the High Commissioner of India, Mrs. K. Nandini Singla, were also present.

CECPA Forum

In his address, PM Jugnauth underlined that the initiative aims at elevating the economic and cultural ties between Mauritius and India as well as celebrate our diplomatic relationships. This event, he said, further highlights our long-lasting friendship and the deep-rooted ties shared by our peoples.

The Prime Minister observed that the CECPA will act as a support to Mauritius in the wake of ongoing global challenges, while adding that India has been throughout a partner and a friend like no other to Mauritius.

He expressed gratitude to the Government of India and Prime Minister, Shri Narendra Modi, for his unwavering commitment to make the CECPA a reality, which he emphasised is the first Agreement that India has signed with an African country. The CECPA forms part of broader strategy between the Governments to broaden our economic horizons and plays an integral part in facilitating cross-border trade and investment, he stated.

Renganaden Padayachy, and K. Nandini Singla greeting the Prime Minister
Renganaden Padayachy, and K. Nandini Singla greeting the Prime Minister

Furthermore, Mr. Pravind Kumar Jugnauth dwelt on the generous technical, financial and diplomatic support India has provided to Mauritius and spoke about the successful completion of recent projects namely the Metro Express, the New Supreme Court and the New ENT hospital.

He also recalled that the Government is investing massively in the upgrading of infrastructure to make sure businesses operate in best environment as well as pave our way to a sustainable, intensive, and modern economy. He affirmed that the country’s economic progress has allowed Government to engage in a resolute fight against poverty and inequality and is now able to invest in social welfare and reiterated his ambition of striving to ensure that citizens emerge as winners from this growth. While underlining EDB’s key role in charting the future that we want, PM Jugnauth urged all businesses to fully avail of its expertise.

Mr. Jugnauth expressed his appreciation for the friendship and mutual respect that Mauritius and India share and renewed his resolve to nurture that special relationship with the strong belief that together both countries can build a prosperous future.

Lauching of Comprehensive Economic Cooperation and Partnership Agreement (CECPA) forum
Lauching of Comprehensive Economic Cooperation and Partnership Agreement (CECPA) forum

Foreign Affairs Minister, Mr. Alan Ganoo described India as a staunch supporter of Mauritius

On his part, Foreign Affairs Minister, Mr. Alan Ganoo described India as a staunch supporter of Mauritius and asserted that India like other privileged partners has accompanied us in our endeavours to emerge as a Small Island State and became a committed partner in our socio-economic development. He laid emphasis on the numerous developmental activities and other projects ranging from the social to the cultural, encompassing educational, capacity-building, trade and security, for which Mauritius benefited from Indian assistance.

According to him, the signature of the CECPA is a pivotal milestone that will pave the way for even greater economic cooperation between our two countries and will enhance our economic ties and develop a unique strategic partnership.

Besides, the Minister stated that Indian investors can use Mauritius as a gateway for production and subsequent exports to the African market, while recalling that Mauritius has duty-free access on a market of 650 million consumers by virtue of its membership in COMESA and SADC. And with the entry into force of the Africa Continental Free Trade Area Mauritius has now preferential access on a market of approximately 1.3 billion people across 55 countries with a combined GDP valued around USD 3.5 trillion.

As for Finance Minister, Mr. Renganaden Padayachy, he pointed out that the Governments of Mauritius and India have worked together to come up with a historical agreement that is mutually beneficial to both our nations. He indicated that the CECPA is instrumental in opening new opportunities for the country’s businesses and added that our economic operators can tap into new opportunities in a market of nearly 1.4 billion people.

The CECPA forms part of Government’s strategy to strengthen the resilience of our economy through the diversification of our markets, and aims at achieving development that transforms both the lives of people and the economy, he added.

High Commissioner of India, Mrs. K. Nandini Singla
High Commissioner of India, Mrs. K. Nandini Singla

Padayachy lauds PM’s special bond with India

There will be no problem of rice supply in Mauritius thanks to the Prime Minister’s special relationship with India. This is what Renganaden Padayachy implied on Tuesday. He was attending a ceremony marking 75 years of cooperation between the Great Peninsula and Mauritius and the official launch of the Comprehensive Economic Cooperation and Partnership Agreement. The event took place in Pointe-aux-Piments. He was asked about the decision of the Grand Peninsula to limit its rice exports. “In general, in this kind of situation, we do negotiations… the Prime Minister has a privileged link with the Indian Prime Minister,” said the finance minister. And to reassure that there is no shortage in Mauritius so far.

Ken Poonoosamy. Chief Executive Officer at Economic Development Board Mauritius
Ken Poonoosamy, Chief Executive Officer at Economic Development Board Mauritius

CECPA will help to enhance the prosperity and wellbeing of the people of both countries

Similarly, the High Commissioner of India underlined that the CECPA will help to enhance the prosperity and wellbeing of the people of both countries. According to her, the CECPA holds tremendous potential to boost bilateral trade and is an ideal platform to explore new opportunities in Africa.

Moreover, Mrs. K. Nandini Singla spoke of the uniquely close ties of India and Mauritius and observed that the two countries have always walked hand in hand and that their future together looks promising. India, she highlighted, has always been one of the top three trading partners of Mauritius after independence while Mauritius has been among the top three sources of FDI into India.

She further stated that Mauritius is at the intersection of three priority areas of India, namely the neighbourhood first policy, the focus on the Indian ocean region and on Africa. We look forward to Mauritius to continue to be a cherished partner in our growth story, she concluded.

On the occasion, the logo for the commemoration of the 75th anniversary of the establishment of diplomatic relations between the Republic of Mauritius and the Republic of India and a booklet penned by the EDB, entitled ‘Mauritius-India CECPA: A guide to Business Development’, were launched.

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