Mauritius to forge stronger economic policies with Africa and Asia for the future

Duval says that the “economic shift” for Mauritius will come from African and Asian ventures in the future, while keeping historical trade links with France and the UK.

He stipulated that Mauritius, with its distinct relations with Africa, Europe and Asian countries as part of regional and African initiatives under COMESA, SADC with support from the African Union, could act as a podium for a “hybrid” economic collaboration that which will connect India, Africa and Europe via Mauritius.

“Mauritius should spare no efforts into maintaining the good reputation of its financial sector as a sound, stable, transparent and internationally recognised by its counterparts,” Duval said.

Minister Duval explained that Mauritius is set to become a key regional hub with a strong service sector country for Africa in the coming years coupled with prosperous economic growth.

Duval outlined that the island nation already poses decent investment vehicles and sound political stability, making investment more fluid and easy.He also expressed, in a surprising assertion, that in terms of money laundering, Mauritius has one of the sternest anti-money laundering laws in the region, and therefore cannot be used as a “platform” for criminal activities and whitewashing foreign monies.

Minister Duvals latest comments come as a refresher as the government said in May it will sustain its economic vigour with a Gross Domestic Product (GDP) growth rate of 3.6% forecasted for 2012 by the Bank Of 
Mauritius ,even with the unwelcome impacts of the euro zone crisis affecting the Mauritian tourism sector.

Currently sources within the financial sector in Port Louis say that the private sectors of India and Mauritius together with Africa should explore the huge potential that Mauritius has to offer in the service industry through high value investment like real estate and the IT sector.

Although, economists explicating to the Mauritian media have expressed concern over the direction of government economic policy, they have expressed that the dwindling economic climate of Europe has led to the 
shift to African and Asian economic progress.

Recently Cader Hossen, Minister of Industry and Commerce, emphasized that as Africa emerges economically, a new edge for investment and trade is being moulded with positive outcomes in the near future.

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