India Mauritius Prime Minister Navinchandra Ramgoolam applauded India as a resolute ally in the socio-economic progress of Mauritius. In an address to the Mauritius-India Business Conclave, he pointed out the blossoming business relationship between the two nations based on the principles of trust, friendship and mutual respect. Ramgoolam pointed at the increased trade numbers since the Cooperative Economic Cooperation and Partnership Agreement (CECPA) as Mauritius exported goods to India averaging 50 million USD every year. Although the world was facing economic unpredictabilities, he emphasized that the ties between Mauritius and India were forever, and trilateral collaboration between India, Africa, and Mauritius will also help the countries to grow.
Key Points in Detail
Intensification of Trade and Economic Relations.
-
India is also a leading trading partner of Mauritius as it represents the third biggest source of imports.
-
Cooperative Economic Cooperation and Partnership Agreement (CECPA) has greatly boosted the trade relations between the two countries.
-
The average exports of Mauritius to India are 50 million USD/year, and the figure is predicted to be twice as high in the future.
-
Tourism: Ramgoolam urged more Indian tourists to come to Mauritius, as a way of establishing the bilateral economic cooperation further.
Three-Way Collaboration and Development.
-
Ramgoolam pointed out the need to have trilateral cooperation among India, Mauritius and Africa to the development of all three areas.
-
Mauritius aims at becoming the most active and helpful partner of India, and making it one of the main sources of Foreign Direct Investment (FDI) in India.
Handling Economic Uncertainties in the world.
-
Ramgoolam observed how unstable the international economic system is, with its extreme state of chaos arising due to trade wars, trade protectionism, and disruption of the chain of supply.
-
Nevertheless, Mauritius-India relationship is declared as eternal, both countries are determined to reinforce their relationship regardless of the world development.
The Mauritius role in the development of India.
-
India has played a significant role in the socio-economic development of Mauritius, as it has led to establishment of healthy diplomatic, trade, and cultural relationships.
-
Constant support by India has enabled Mauritius to pass through the economic hurdles and hold a steady growth amidst uncertainties in the world.
Conclusion
India and Mauritius have a robust and stable partnership that is keen on enhancing economic and strategic ties between the two countries. The Mauritius-India Business Conclave has highlighted the prospects of future development of trade, investment and tourism. In the case of UPSC, this is representative of the role of bilateral cooperation in world trade and effects of regional groupings on the socioeconomic growth, especially in the light of small island economies amidst global uncertainties.
