See also:
» 07.10.2010 - Indian Ocean tourism cooperation limping
» 17.11.2009 - IMF announces sale of tons of gold to Mauritius
» 04.09.2009 - Southern Africa Trust to collaborate with Mauritius
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» 02.09.2008 - Mauritius leader asked to ignore employment bills
» 24.04.2008 - Mauritius snubs labour laws
» 22.01.2008 - Illegal fishing ruins Mauritius
» 23.05.2006 - Pan-African e-network hub may go to Mauritius

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Economy - Development | Politics

US and Mauritius discuss advanced cooperation on trade and investment

afrol News, 21 April - The Mauritian government hosted the Assistant US Trade Representative for Africa Florizelle Liser today where discussions to improve trade and investment btween the two countries were held.

The meeting under the United States-Mauritius Trade and Investment Framework Agreement (TIFA) was to review progress in implementing a workplan developed. This was the third meeting of the high-level TIFA Council created under the 2006 agreement.

Ms Liser and Mauritian Minister of Foreign Affairs, Regional Integration, and International Trade Arvind Boolell co-led the discussions, which focused on cooperation in the World Trade Organisation, implementation of the African Growth and Opportunity Act (AGOA), export diversification, trade and investment promotion, and economic development.

“Mauritius has one of the most open and dynamic economies in sub-Saharan Africa and is a leader among those developing countries seeking to advance economic development through trade,” said the Assistant US Trade Representative, further adding, “The TIFA Council provides a mechanism for the US government to support the Mauritian government’s efforts to liberalise and expand trade and investment and to work with Mauritius to enhance opportunities for US exports of goods and services.”

According to the US State figures, in 2008, Mauritian exports under AGOA and the Generalized System of Preferences were valued at $101.7 million, a 15 percent decline over the same period in 2007, due to the fall in textile and apparel exports. Leading Mauritian exports to the United States include textile and apparel, cut diamonds and jewelry, live animals, prepared fish, optical and medical instruments, and perfume.

Under the TIFA, Mauritian firms have participated in a variety of US trade shows, resulting in millions of dollars in new trade deals, the US trade representative states, adding that the TIFA has also significantly enhanced cooperation between Mauritius and US trade agencies on topics such as trade promotion, sanitary and phytosanitary issues, and trade-related infrastructure.

According to Us official figures, total two-way trade between Mauritius and the United States was valued at $227.7 million in 2008 and US exports to Mauritius were valued at $51.3 million, a 3 percent increase. The leading US exports to Mauritius include wheat, diamonds and jewelry, and machinery.

At the end of 2007, the US direct investment position in Mauritius was $2.9 billion, an increase of 83 percent from 2006.

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