Signed Agreement to Strengthen Mauritius-Tanzania Economy

Recent reports have indicated that an agreement has been signed that will help to strengthen both the Mauritius economy and the Tanzania economy through encouraging the exchange of technology and the increased development of investment opportunities in both countries.

According to an announcement on the website for the Government of Mauritius, on March 2nd, Hashim Iddi Mbita, the High Commissioner of the United Republic of Tanzania to Mauritius called on Madan Dulloo, the Minister of Foreign Affairs, International Trade and Cooperation in order to discuss the need to strengthen economic trade and cooperation and to, subsequently, enhance the investment opportunities between the two countries as well.

One proposal my Mr. Dulloo was to encourage cooperation between the two countries in maritime and port development projects in addition to mutual support in the countries respective tourism, investment, trade, fisheries, food production, textiles and fertilizer production sectors.

During this meeting, the two parties agreed to accelerate the process of acquiring the required signatures on the General Framework Agreement, the Double Taxation Avoidance Agreement and the Investment Promotion and Protection Agreement between the two countries.

The economic agreement between the two countries was officially signed during a ceremony last week by representatives from both countries – Bernard Membe, the Minister for Foreign Affairs and International Cooperation, on behalf of Tanzania and Georges Alain Laridon, the Mauritius Ambassador to Mozambique, on behalf of Mauritius.

Mr. Membe, who spoke during the signing ceremony, indicated that there are currently many opportunities available in Tanzania for Mauritius and other countries to take advantage of.

“Tanzania`s geographical position, its political stability, good market policy and foreign exchange control make us one of the best countries to invest in,” he said.

Mr. Membe went on to explain that the environment in Tanzania is currently ripe for and is, therefore, ready for Mauritians and others alike to come up and set up investments there.

In addition, Mr. Membe said that his country could be prepared to build a partnership with Mauritius in the areas of textiles, fishing and agriculture.

Meanwhile, the Mauritian Ambassador, Mr. Laridon, indicated that Mauritius already boasted a number of investments across the continent and he was hopeful that this agreement would help to support a strong new partnership between Mauritius and Tanzania.

“The door is open for nationals of the two countries to take advantage of opportunities available in both countries,” he said.

As a result of this agreement, Mauritius, which is currently one of the largest producers of sugarcane, would transfer its technology into Tanzania.