Mauritius-Dubai forum to strengthen economic ties

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Mauritius-Dubai Investment and Business Forum in Dubai on May 14, 2024.

The Economic Development Board Mauritius organised the Mauritius-Dubai Investment and Business Forum in collaboration with Dubai Chambers.

The event on May 14 at Waldorf Astoria Dubai International Financial Centre Hotel brought together top executives from various sectors, including financial services, banking, freeport, real estate, hospitality, ICT and trading sectors. A multisectoral delegation, comprising some 40 operators from Mauritius, were present to engage with the business community of Dubai.

The aim of the forum was to showcase Mauritius as an investment destination, a trusted jurisdiction to conduct business, and a business hub for Africa. This event also served to strengthen economic relations with Dubai and the UAE and explore areas of collaboration with key companies in the region.

“The UAE is our fourth source of origin for our imported products after China, India and South Africa. In 2022, merchandise exports to the UAE amounted to $25 million and imports accounted for $585 million,” said Hemraj Ramnial, Chairman of the Economic Development Board Mauritius.

“We are looking forward to achieve our objectives of collaboration and attract more projects and investors from Dubai. This forum will also help Dubai-based businesses conduct business in Africa through the Mauritius jurisdiction,” Ramnial added.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Dubai has developed robust trade and investment relations with countries around the world; we remain committed to enabling the local private sector to benefit from the opportunities arising from these relations and build successful partnerships in promising global markets such as Mauritius.”

Lootah added: “The Mauritius-Dubai Business & Investment Forum underlines the high degree of confidence in the upcoming Comprehensive Economic Partnership Agreement between the UAE and Mauritius, which is set to unlock new opportunities for mutual growth. We are keen to enhance cooperation between the business communities in Mauritius and Dubai to boost bilateral trade and investments. The representative office of the Economic Development Board of Mauritius, which is hosted at Dubai Chambers’ headquarters and was launched in 2022, also plays a vital role in achieving our shared objectives.”

The forum was attended by Showkutally Soodhun, Ambassador of the Republic of Mauritius to the UAE and GCC, and Thani Ahmed Al Zeyoudi, Minister of State for Foreign Trade.

The Business Forum was organized in line with the forthcoming Comprehensive Economic Partnership Agreement (CEPA) with the UAE to enhance trade in goods, services, economic cooperation, and investment between Mauritius and the UAE, benefiting both economies.

With the CEPA, Mauritius has obtained market access on the UAE market for products such as sugar, processed fish, textiles and apparel, and medical devices. This agreement will further strengthen the trade and investment relations between Mauritius and the UAE for the mutual benefit of both countries. ICA/Expat Media

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