Mumbai, Mar 7 (KNN) Facilitating online trade and exhibition platform will increase marketing opportunities for small and medium enterprises (SMEs) in the two countries, said Minister of Industrial Development, SMEs and Cooperatives, Government of Mauritius, Soomilduth Bholah at a webinar organised by MVIRDC World Trade Center Mumbai.

“Such initiative will harness the benefits conferred by the India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA),” he added.

MVIRDC World Trade Center Mumbai has launched a virtual exhibition spread over three months for India-Mauritius trade on its digital platform wetrade.org to enhance business opportunities for buyers and sellers of the two countries.

The agreement gives Indian companies a major advantage through the preferential access that Mauritius has to regional trading block like SADC, COMESA and AFCTA, the minister said at the webinar organized by World Trade Center Mumbai, Economic Development Board, Mauritius and Mauritius Chamber of Commerce & Industry.

“Mauritius is strategically located between Africa and Asia, we want to make Mauritius a manufacturing powerhouse in the African continent,” said Bholah.

He emphasized on India being a key partner in Mauritius’ economic development, through trade and investment ties and the island nation in the Indian ocean imports 15 percent of its global imports including pharmaceuticals, rice, cotton, cotton yarn, etc from Asia’s third largest economy.

With the manufacturing sector contributing about 30 per cent to the Mauritius economy, the country has made significant progress in high tech industries such as medical devices, auto components, technical textiles, sophisticated jewellery etc.

Participating in the webinar, Hemraj Ramnial, CSK, Chairman, Economic Development Board, Mauritius said that the virtual exhibition will become the digital corridor to help Indian businesses access the African market, which constitutes 17 per cent of the global population and about 60 percent of untapped arable land.

Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai in his welcome regards said, “The current bilateral trade of USD 466 million does not reflect true potential and I am confident that through our coordinated efforts we can increase this volume to USD 1 billion in the next two years.” (KNN Bureau)