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AfricaMoney | August 22, 2017

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Mauritius, Gabon ink trade, investment agreements

Mauritius and Gabon signed a general agreement and three Memorandums of Understanding (MoUs) to enhance bilateral relations and increase cooperation in several sectors such as trade and investment, agriculture, and tourism. (Image: Government of Mauritius)

Mauritius and Gabon are eying enhanced bilateral relations and increased cooperation in several sectors including trade and investment, agriculture, and tourism.

To this end, a general agreement and three Memorandums of Understanding (MoUs) were entered into by Navinchandra Ramgoolam, the Prime Minister of Mauritius, and Ali Bongo Ondimba, the President of Gabon. Arvin Boolell, Mauritius’s Minister of Foreign Affairs, Regional Integration and International Trade, and his Gabonese counterpart, Emmanuel Issoze, signed the agreements on behalf of their respective countries.

The work session, held on Wednesday at Clarisse House, the PM’s official residence, saw the two state heads exchanging views on regional and international issues of mutual interest. They also discussed matters and projects of common concern such as a development agenda that focuses on sustainable development.

Their joint statement after the working meeting noted that the Gabonese President’s three-day state visit had further intensified existing bilateral relations between the central African economy and the island nation. Ramgoolam stated that the Gabonese President’s presence in Mauritius was symbolic of the two countries’ determination to elevate bilateral relations to new heights.

Ondimba highlighted the ‘well-known entrepreneurism’ of the Mauritian people and expressed his admiration for the Mauritian way of doing things. He highlighted potential areas for establishing trade and investment collaboration with his country. He urged Mauritius to explore possibilities for mutually profitable ventures, adding that strengthening bilateral ties paves the way for a truly African south-south cooperation.

The agreements penned between the two countries include a general agreement to develop cooperation across the fields of trade and investment, Information and Communication Technologies (ICT), research, tourism and agriculture; an MoU to strengthen existing bilateral relations; and two other MoUs for economic cooperation in the fields of agro-industrial development and tourism.

Meanwhile, in 2012, the foreign direct investment (FDI) flow from Mauritius to Gabon stood at $30 million while the FDI flow from Gabon to Mauritius was $1 million. On the foreign trade front, Mauritius exported goods and services (covering medicines, handbooks, bulldozers and angledozer blades) worth Rs 4.5 million to Gabon in the first two quarters on 2013. The island nation imported primarily woods and books from Gabon with total imports standing at Rs 1.55 million in the same period.

Source: Government of Mauritius

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