Mauritius to set up National Export Strategy to address trade opportunities
Mauritius commerce and industry minister Cader Sayed Hossen stressed that Mauritius must set up an export strategy only after taking into account the latest developments on the international economic stage (Image: Maurice-info)
Mauritius will soon set up a National Export Strategy to identify trade opportunities and challenges that the export sector will have to grapple with, considering the erosion of commercial preferences such as the abolition of the EU sugar quota in 2017.
Mauritius commerce and industry minister Cader Sayed Hossen made this assertion on the occasion of an economic forum organised by the Mauritius Export Association (MEXA) on September 10, 2014 at the Labourdonnais hotel.
Addressing a gathering of industry elite comprising business managers, economists, financial professionals and leaders of public and private institutions, Minister Hossen stressed that Mauritius must set up an export strategy only after taking into account the latest developments on the international economic stage.
Starting from end-2014 or start-2015, the planning framework for the National Export Strategy will benefit from the assistance of experts at the International Trade Center based in Geneva.
The exercise undertaken by the government also aims at improving the coherence and the convergence of the policies touching upon the export sector, as well as the legal and regulatory frame in which it operates.
Cader Sayed Hossen believes that the National Export Strategy will have a significant positive impact on quality of services offered by representative agencies such as Enterprise Mauritius, Board of Investment, Mauritius Chamber of Commerce and Industry, among others.
“We cannot wait for the dark clouds of economic downturns in Europe to clear. We need to seize opportunities that are lurking on the economic horizon now,” he declared.
According to him, Mauritius depends on the European Union (EU) for approximately 60% of its exports, but the island is aware that this dependence on European markets is not a safe pathway to support its development in the medium and long term.
On the other hand, Africa offers a viable alternative market for Mauritius, as GDP in Africa is expected to grow by more than 60% by 2020 and consumer expenditure in the continent would likely move beyond the USD one trillion mark in the near future.
Hence, the minister observed that there is no doubt that Mauritius can fully capitalize on its potential as a corridor for trade between Asia and Africa.
To conclude, the President of MEXA, Phil Ryle, noted positive trends concerning the world economy and indicated that the export sector is diversifying its destination markets, which makes it more resilient and robust.