Covering trade in goods, services and as well as investment protection matters, the China Mauritius Free Trade Agreement was signed seeking to achieve the goal of a comprehensive, high-level and mutually beneficial partnership.
Through the Free Trade Area, Mauritius-based businesses will be able to access a huge market of 1.4 billion people, providing a welcome boost to enterprises engaged in the export of special sugars, rum, black tea, tuna, horticultural products, processed food, handicrafts, high-end textiles and apparels, cut diamonds, etc.
Apart from opening up tremendous opportunities for business enterprises with substantive activities in Mauritius and exporting to the immense Chinese market, the China-Mauritius FTA, by raising the competitiveness of Mauritian products with China-sourced components in their value chain, will boost their export potential in other markets.
The FTA further provides new opportunities for Mauritius to spur its important tourism sector and transform itself into a shopping paradise for Africa, Asia and the Indian Ocean.
Official diplomatic relations between Mauritius and China were established on 15 April 1972 and, since then, relations between the two countries have been strong and have seen steady development.
China has been a key contributor to Mauritius’s development and has financed major economic and social infrastructure including the Mauritius international airport, highways, sports stadiums, public transportation, public hospitals, social housing, etc.
The availability and affordability of a range of Chinese products have considerably elevated the general standard of living in Mauritius, reduced the cost of living pressures, and helped maintain social inclusivity and political stability, elements which are essential to sustainable economic development.
Hallmark of the excellent relationship between China and Mauritius, the FTA aims to take the strategic partnership of cooperation between China and Africa up to new heights.
First, of its kind signed between China and an African country, the FTA will reinforce the place of Mauritius as a business hub of choice for the Indian Ocean, Africa and Asia.