<p class="title">The Cabinet will soon consider the proposed India-Mauritius free trade agreement, aimed at liberalising norms to boost two-way commerce and investments, for approval, an official said.</p>.<p class="bodytext">In a free trade agreement, two trading partners cut or eliminate duties on the majority of goods besides liberalising norms to promote services trade and boost investments.</p>.<p class="bodytext">"The Cabinet would soon take up the agreement for its consideration. After its approval, a date would be finalised for the signing of the agreement, after which it will be implemented," the official said.</p>.<p class="bodytext">India and Mauritius have been negotiating the pact, officially dubbed as the Comprehensive Economic Cooperation and Partnership Agreement (CECPA), since 2005.</p>.<p class="bodytext">According to experts, India may not get huge benefit in the goods sector as Mauritius is a small market, but services sectors such as IT and tourism hold huge potential to enhance economic ties.</p>.<p class="bodytext">Mauritius was the second top source of foreign direct investment (FDI) into India in 2018-19. India received USD 8 billion (about Rs 56,000 crore) foreign inflows from the country.</p>.<p class="bodytext">The bilateral trade between the countries increased marginally to USD 1.2 billion in 2018-19 from USD 1.1 billion in 2017-18.</p>.<p class="bodytext">India exports petroleum products, pharmaceuticals, cereals, cotton and electrical machinery, apparel and clothing accessories to Mauritius.</p>.<p class="bodytext">The island nation's exports to New Delhi include iron and steel, pearls, precious/semi-precious stones and optical, photographic and precision instruments.</p>
<p class="title">The Cabinet will soon consider the proposed India-Mauritius free trade agreement, aimed at liberalising norms to boost two-way commerce and investments, for approval, an official said.</p>.<p class="bodytext">In a free trade agreement, two trading partners cut or eliminate duties on the majority of goods besides liberalising norms to promote services trade and boost investments.</p>.<p class="bodytext">"The Cabinet would soon take up the agreement for its consideration. After its approval, a date would be finalised for the signing of the agreement, after which it will be implemented," the official said.</p>.<p class="bodytext">India and Mauritius have been negotiating the pact, officially dubbed as the Comprehensive Economic Cooperation and Partnership Agreement (CECPA), since 2005.</p>.<p class="bodytext">According to experts, India may not get huge benefit in the goods sector as Mauritius is a small market, but services sectors such as IT and tourism hold huge potential to enhance economic ties.</p>.<p class="bodytext">Mauritius was the second top source of foreign direct investment (FDI) into India in 2018-19. India received USD 8 billion (about Rs 56,000 crore) foreign inflows from the country.</p>.<p class="bodytext">The bilateral trade between the countries increased marginally to USD 1.2 billion in 2018-19 from USD 1.1 billion in 2017-18.</p>.<p class="bodytext">India exports petroleum products, pharmaceuticals, cereals, cotton and electrical machinery, apparel and clothing accessories to Mauritius.</p>.<p class="bodytext">The island nation's exports to New Delhi include iron and steel, pearls, precious/semi-precious stones and optical, photographic and precision instruments.</p>