Mauritius Free Trade Agreement With China

After the signing of the agreement, both sides will adopt formal entry-into-force procedures so that the free trade agreement can enter into force as soon as possible, which will benefit businesses and citizens of both countries as soon as possible. The Office of the Prime Minister of Mauritius said the agreement “would form the basis for the opening of an economic and trade office by the Shanghai Economic Development Office and facilitate the promotion of the Mauritian government in the main destination cities, in accordance with the Go East strategy, to explore ways to increase trade and exchange between Mauritius and China.” Mauritius` latest three-year strategy through 2021 outlines plans to reduce the island state`s dependence on Europe and accelerate a market diversification strategy, with greater market penetration from ASEAN (Association of Southeast Asian Nations) and Africa, the Gulf and the Nordic countries. China Briefing is produced by Dezan Shira – Associates. The company supports foreign investors throughout Asia from branches worldwide, including in Dalian, Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. Readers can write to china@dezshira.com to get more help in their business activities in China. Negotiations on the free trade agreement between China and Mauritius were officially launched in December 2017. Under the leadership of the heads of state and government of both countries, the two sides formally concluded the negotiations on 2 September 2018, after four rounds of intensive negotiations. The agreement covers trade in goods, trade in services, investment, economic cooperation, etc., and achieves the objective of “completeness, high level and mutual benefit”. The agreement covers trade in goods and services as well as investment and economic cooperation. Despite numerous free trade agreements with other richer economies, an earlier analysis of our society has shown that the real trade relations of most major countries with Africa have hardly changed since the start of the Doha Round of the World Trade Organization (WTO) in 2001, with agriculture being one of the most controversial issues. China and Mauritius eventually committed to zero tariffs at 96.3 per cent and 94.2 per cent of the jobs traded.

These account for 92.8% of the volume of imports for both countries. The agreement has been in progress since 2017 and is likely part of Mauritius` three-year development strategy until 2021, which aims to shift the island`s dependence on Europe and achieve further economic penetration into ASEAN. The most recent agreement, signed on October 17, 2019, is the Mauritius-China Free Trade Agreement – China`s first free trade agreement with an African country. The agreement will allow Mauritius to increase and diversify its exports to China by allowing Mauritius duty-free access to more than 8,000 products, and the two countries end up obtaining zero tariffs at 96.3% (China) and 94.2% (Maurice) of traded goods. Apart from this, the European Union (EU) has recently begun negotiations to deepen its existing economic partnership agreement with five countries in Eastern and Southern Africa (ESA), including clothing manufacturers Madagascar and Mauritius.