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Mauritius can benefit from Indian market: Ramgoolam

Special Correspondent

My country can be a stepping stone to African continent

RENEWING TIES: Prime Minister Manmohan Singh with his Mauritius counterpart, Navinchandra Ramgoolam, and Veena Ramgoolam after a ceremonial reception at the Rashtrapati Bhavan on Monday. — Photo: V.V. Krishnan

NEW DELHI : The Prime Minister of Mauritius, Navinchandra Ramgoolam, on Monday described the framework of the `Comprehensive Economic Cooperation and Partnership Agreement' (CECPA) between India and Mauritius as a "bold step forward" which will lead to free movement of capital, goods, services and people.

Addressing the captains of Indian industry at a meeting organised by the Confederation of Indian Industry , the Federation of Indian Chambers of Commerce and Industry and the Associated Chambers of Commerce and Industry of India here, Dr. Ramgoolam said CECPA would be a model for a new type of regional integration and Mauritius could become a stepping stone for Indian industry to the African continent.

While Mauritius' membership in the Southern African Development Community and the Common Market for Eastern and Southern Africa opened a potential market of around 500 million, Mauritius business could benefit from India's huge market of sub-continental dimensions.

Dr. Ramgoolam said his Government was seriously engaged in streamlining investment procedures for which a `Fast Track Committee' under his chairmanship had been set up to ensure that projects are implemented on time.

"I have also set up two sub-committees to improve the overall business climate in Mauritius," he said.

Mauritius, he said, aspired to become a pivotal centre for distribution and re-export trade for the southern African sub-continent and invited Indian firms doing business with Africa to use Mauritius' free port logistics for their transit and re-export.

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