India, Mauritius Ink Economic Deal Boosting India's Investment In Island Nation - Minister
Faizan Hashmi Published February 22, 2021 | 07:30 PM
NEW DELHI (UrduPoint News / Sputnik - 22nd February, 2021) India and Mauritius have signed an agreement on comprehensive economic cooperation and partnership that will turn the African island nation into the center of India's investment in the region, Indian Minister of External Affairs Subrahmanyam Jaishankar said on Monday.
The agreement was reached during Jaishankar's official visit to the African country as part of his two-nation tour, which started last week. On Saturday, the Indian minister paid a two-day visit to the Maldives.
"India is privileged to have entered into a Comprehensive Economic Cooperation and Partnership Agreement (CECPA) with Mauritius. This Agreement is India's first-such Agreement with an African country as noted by the Prime Minister [of Mauritius Pravind Jugnauth].
It will provide a timely boost for the revival of our post-covid economies and also enable Indian investors to use Mauritius as a launch-pad for business expansion into continental Africa helping the prospect of Mauritius emerging as a 'hub of Africa,'" Jaishankar was quoted as saying by the Indian ministry in a statement.
The newly-inked agreement will allow Mauritius to export its products, including frozen fish, biscuits, fresh fruits, juices, mineral water, soaps, bags, medical and surgical equipment, as well as apparel, to the Indian market of over a billion people.
The sides also signed a number of other agreements, including one on providing a $100-million loan to the African nation aimed at procuring defense assets from India.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
More Stories From World
-
Togo leader Gnassingbe follows father's political playbook
3 minutes ago -
China ready to work with Pakistan to promote practical cooperation under CPEC, GDI: Luo Zhaohui
13 minutes ago -
Indian election resumes as heatwave hits voters
13 minutes ago -
United by grief, families of Boeing crash victims demand justice
43 minutes ago -
Microsoft expands its AI empire abroad
53 minutes ago -
China ready to work with Pakistan to promote practical cooperation under CPEC, GDI: Luo Zhaohui
53 minutes ago
-
Nuggets push Lakers to brink as Embiid's 50 points lead Sixers over Knicks
1 hour ago -
Man City in title groove as Arsenal face Spurs test
1 hour ago -
Philippine settlement submerged by dam reappears due to drought
1 hour ago -
ByteDance says 'no plans' to sell TikTok after US ban law
2 hours ago -
Oil: 'Mother of corruption' in Venezuela
2 hours ago -
ECO General Secretary urges member nations to embrace cultural wealth
2 hours ago