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As part of its efforts to diversify and expand commercial exchanges with Mauritius, India will push for renewing the petroleum product exports contract and hopes to eventually set up a petroleum storage facility in that country.
Mangalore Refinery & Petrochemicals Ltd (MRPL) has been supplying petroleum products to Mauritius. Its three-year agreement with the State Trading Corporation (STC) of Mauritius is up for review this month.
When contacted by Business Line an MRPL source said: “There appears to be a lack of seriousness on part of STC Mauritius in concluding the contract.”
Three-year deal
Petroleum products account for more than 80 per cent of India’s exports to Mauritius.
In 2007 MRPL had signed a three-year agreement to export fuel worth $2 billion to Mauritius.
It was agreed that MRPL would export 1.1 million tonnes of auto fuels, jet fuel and furnace oil annually for three years.
Mauritius is expected to buy one lakh tonnes of petrol, 3.5 lakh tonnes of diesel and 2.7 lakh tonnes of jet fuel every year, over the three years. Mangalore Refinery has also shown interest in helping Mauritius set up a petroleum storage facility.
The issue may be flagged by Commerce and Industry Minister Anand Sharma, in his talks with Sayyad Abd-Al-Cader Sayed-Hossen, Minister of Industry, Commerce and Consumer Protection, Mauritius, later this week.
Sharma will attend the First Trade Ministerial Level Economic and Business Conference of Indian Ocean Rim Association for Regional Cooperation (IOR-ARC) Nations in Port Louis starting July 4
Other exports
Besides petroleum products, other exports from India to Mauritius in 2012-13 included cotton, pharmaceuticals, cereals, carpets, electrical machinery and equipment, apparel and clothing accessories.
India is a major supplier of cotton to Mauritius’ textile industry.
A significant portion of Mauritius’ basmati and non-basmati rice requirements are also sourced from India.
At the meeting, India will seek to expand trade in sectors such as agro-processing, manufacturing, drugs and pharmaceuticals, medical equipment, seafood, automobile parts, tourism and hospitality, as well as IT and IT-enabled services.
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