Mauritius and the UAE have embarked on a significant economic partnership, opening new avenues for trade and investment between Africa and the Gulf States. The two states have signed a Comprehensive Economic Partnership Agreement (CEPA). This collaboration marks a pivotal moment in strengthening economic relations, fostering growth, and enhancing regional connectivity.
Strategic Economic Collaboration
The CEPA was signed on behalf of Mauritius by the Honourable Maneesh Gobin, Minister of Foreign Affairs, Regional Integration, and International Trade, and, on behalf of the UAE, by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.
The Prime Minister of Mauritius, the Honorable Pravind Kumar Jugnauth, and the Vice President and Prime Minister of the UAE, His Highness Sheikh Mohammed bin Rashid Al Maktoum, participated in the signing ceremony via recorded video messages.
Other dignitaries attending the event included His Excellency Showkutally Soodhun, Ambassador of Mauritius to the UAE, Mr. Narainduth Boodhoo, Trade Policy Director and Chief Negotiator for Mauritius, Mr. Al Kait, Assistant Undersecretary for International Trade Affairs and Chief Negotiator for the UAE, and Ms. Shaima Al Alaydarous, Negotiations and International Organizations Director for the UAE.
The partnership is set to leverage the strategic geographical locations of both Mauritius and the UAE. Mauritius, situated at the crossroads of Africa and Asia, and the UAE, a gateway to the Middle East, plan to create a synergistic economic hub. This alliance aims to facilitate easier access to markets, boost trade volumes, and attract investment to diverse sectors such as finance, technology, and tourism.
The Prime Minister Jugnauth said: “Today, we embark on a journey that will not only strengthen our bilateral ties, but also pave the way for enhanced cooperation and collaboration in various sectors. This agreement is not just about eliminating barriers to trade in goods and services; it is about fostering a deeper understanding and partnership that will benefit both our economies and our people and the wider Gulf region and Africa”.
For his part, the UAE Vice President and Prime Minister stated: “The UAE, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, is committed to forging strong and mutually beneficial partnerships with friendly countries that share our vision of fostering economic growth and promoting international cooperation.”
Enhancing Trade and Investment
One of the primary objectives of this partnership is to increase bilateral trade and investment flows. Both nations are committed to creating a conducive environment for businesses to thrive, encouraging entrepreneurship, and fostering innovation. By enhancing trade agreements and reducing barriers, Mauritius and the UAE aim to boost their economic growth and development.
Focus on Sustainable Development
A key aspect of the Mauritius-UAE economic partnership is the emphasis on sustainable development. Both countries recognize the importance of adopting green technologies and sustainable practices in their economic activities. This focus on sustainability is expected to attract eco-conscious investors and businesses, contributing to long-term environmental and economic benefits.
Expanding Influence in Africa and the Gulf
The collaboration between Mauritius and the UAE is also strategically designed to expand their influence in Africa and the Gulf region. By working together, they plan to tap into the vast potential of African markets while also strengthening ties within the GCC.
The ambitious economic partnership between Mauritius and the UAE heralds a new era of trade and investment between Africa and the Gulf States. With a focus on strategic collaboration, enhanced trade, sustainable development, and regional influence, this alliance is set to create significant economic opportunities and pave the way for a prosperous future.
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