Mauritian exports are poised for substantial growth in 2023, projecting a remarkable 7.8% increase compared to the previous year, driven significantly by the Mauritius-China Free Trade Agreement (FTA). This landmark trade agreement has paved the way for a surge in exports, with a notable uptick in the issuance of certificates of origin. The following was highlighted during the Mauritius-China Free Trade Agreement (FTA) Cooperation Forum convened on August 31, 2023, at the Intercontinental Hotel in Balaclava.
This event brought together delegations from both nations. It showcased participation from 35 prominent Chinese companies and was attended by approximately 50 high-ranking Chinese officials. China, a pivotal market for Mauritian exports, witnessed trade figures reaching Rs 78.8 billion in 2019, with expectations soaring to Rs 110 billion for the current year.
These promising numbers signify a remarkable 7.8% growth compared to 2022, as mentioned by the Honourable Dr. Renganaden Padayachy, Minister of Finance, Economic Planning, and Development. The minister added that since the inception of the free trade agreement between the two nations, an impressive tally of 302 certificates of origin has been issued, contributing to exports exceeding Rs 750 million. This agreement grants Mauritian companies the privilege to export 8,227 products to China without incurring customs duties.
Honourable Maneesh Gobin, in his inaugural role as Minister of Foreign Affairs, emphasized Mauritius’s strategic positioning as a natural gateway for investors seeking access to the African market, bridging the realms of Asia and Africa. He underscored the significance of the Mauritius-China Trade Agreement in augmenting commercial cooperation.
In June 2023, the EDB spearheaded a Mauritian delegation’s participation in the China-Africa Economic and Trade Expo held in Changsha. The chairman emphasized that this event underscored the EDB’s dedication to nurturing strong partnerships, promoting Mauritian products such as rum, tea, and specialty sugars, and showcasing the nation’s rich cultural heritage and craftsmanship.
The next meeting of the Mauritius-China Free Trade Agreement (FTA) Cooperation Forum will take place in Beijing.