Dear Valued Partners
‘Mauritius is not an ordinary country’ are the words used by Mr Admassu Tadesse, President of the PTA Bank yesterday at the setting up of its third Regional Office in Mauritius . How befittingly true! Mauritius, the Small Island Developing State, devoid of natural resources has metamorphosed into a Large Ocean State (LOS) abundantly endowed with untapped marine and mineral resources.
With an Exclusive Economic Zone of 2.3 million square kilometres, of which 396,000 square kilometres jointly managed with Seychelles, Mauritius has one of the largest EEZs, in the world. That’s effectively more than 1000 times larger than the island’s land mass. To effectively and sustainably harness the economic value of the Ocean, the Prime Minister of Mauritius launched a National Dialogue on Ocean Economy. Mauritius is now running yet another lap in its economic transformation race to graduate to the league of High Income Economies on the basis of our EEZ and Continental Self. The Ocean offers numerous opportunities for value creation in the fields of fisheries and aquaculture, energy sources, leisure and recreation, marine transport, food production, health and wellness, education, biotechnology, amongst others. These opportunities will translate into job creation, foreign direct investment, technology transfer innovation and more importantly foreign exchange earnings through export. Mauritius will capitalise on these emerging opportunities to strengthen its resilience and built new growth clusters.
Extending beyond our own EEZ and Continental Self, the Prime Minister also launched the First Indian Ocean Rim – Association for Regional Cooperation (IOR-ARC) Economic and Business Conference which Mauritius co-hosted with India. The theme of the Conference was ‘Deepening Economic Linkages for Balanced, Inclusive and Sustainable Growth’ of its 20 member states. The RIM comprises some of the world’s most vibrant economies and is home to over one-third of the world population. Opportunities for intra member trade and investment are abundant and unprecedented. TeamEM is already working on prospecting several IOR-ARC member states for exports from Mauritius.
Remaining within the Regional Agenda, this month, Mauritius hosted the Joint COMESA, EAC and SADC Tripartite Ministerial Committee on Trade and Industry, which was attended by 250 delegates from the 26 Tripartite member states.
The Tripartite comprises 26 member states of which 8 COMESA members are also members of SADC and 4 are Partner States of the EAC while one of SADC member is also a Partner State in the EAC) and constitutes a formidable market of over 560 m people (440 m in COMESA, 136 m in EAC and 270 m in SADC) and represents an integrated economy of over US$ 1 trillion in GDP (US$ 444 b in COMESA, US$ 73.3 b in EAC and US$ 470 b in SADC)
The Tripartite together with the IOR-ARC represent an interesting alternate market (non-traditional) for Mauritian products and services.
In the backdrop of the above mega regional integration initiatives, Mauritius continues to consolidate its market share and acquire on our traditional markets while resolutely diversifying our export markets. While the former markets are being catered for mainly by our Export Oriented Enterprises (EOEs), our Domestic Oriented Enterprises (DOEs) are active on the non-traditional emerging markets, with an emphasis on Africa. More and more SMEs are embarking on export promotion.
Exports from Mauritius remain buoyant over the first and second quarters of this year compared to its preceding years of 2011 and 2012 respectively with a monthly average export of nearly Rs 5 b a month.
TeamEM will reinforce its Regional Marketing with the hosting of the second Mauritius International Trade Expo – MAITEX 2013, which will be held on 22 to 24 August 2013 at the Swami Vivekananda International Conference Centre, Pailles. A record number of 115 local companies have registered to exhibit their latest collections and savoir-faire at this ‘Made in Mauritius’ only product show. Some 300 buyers from over 20 countries will attend MAITEX 2013. More importantly, MAITEX will be the platform to show to Mauritian traders and importers of the supply capacity of local industries. The last day of the Expo will be open to the public for sales of export quality products manufactured in Mauritius.
In the margin of MAITEX 2013, TeamEM is also organising the first Mauritius International Rum Festival to promote locally manufactured rum to international buyers. Four international Rum Ambassadors, led by Mr Ian Burrel will attend the event. He will also run a Master Class, for the benefits of Mauritian bartenders, on how to make a World Class Cocktail.
With MAITEX and RumFest, TeamEM wishes to strongly position Mauritius as a reliable sourcing destination of quality, value-added, and price competitive products. We are committed to strengthen the internationalisation of Mauritian products ‘Made with Care’. We shall keep you informed of developments.
I wish you all a pleasant reading and welcome your comments.
Chief Executive Officer