Mauritius offers huge opportunities to Pakistani businessmen
Mauritius, for being a gateway to Africa, has huge scope for Pakistani furniture, pharmaceuticals, textiles, tiles & saintaryware, carpets and mangoes and these marvelous opportunities must be tapped.
This was stated by the High Commissioner of Mauritius Muhammad Rashad Daureeawo while talking to LCCI President Farooq Iftikhar here at the Lahore Chamber of Commerce and Industry on Tuesday.
LCCI Vice President Mian Abuzar Shad, Honorary Consul of Mauritius Shahid Sethi, Executive Committee Members Mian Zahid Javaid Ahmad, Shoaib Zahid Malik, Iftikhar Bashir Chaudhry and former Vice President Shafqat Saeed Piracha also spoke on the occasion.
The High Commissioner, while calling for a constructive collaboration between the LCCI and Chambers of Commerce in Mauritius, said that Mauritius wants to further strengthen economic ties with Pakistan through the expansion of already signed Preferential Trade Agreement to various fields.
He said that Mauritius tops World Bank Ease of Doing Business Ranking because it is not only the tax regime that is very soft and encouraging but there is no red tapism in the country and any foreign company can get registration in just three days time.
He said that legal framework for resolution of traderelated disputes is very strong in Mauritius that is also a big advantage to the foreign businessmen want to do business with their counterparts in that part of the world.
The High Commissioner also called for exchange of sector-specific delegations to jack-up bilateral trade and dissemination of trade-related information. He said since Mauritius is a gateway to African countries therefore offers huge opportunities to Pakistani businessmen desirous of winning those markets.
The High Commissioner added that his country is an attractive tourist destination therefore any investment or a joint venture would be a winwin situation for both the countries. The country has a population of only 1.3 million but attracts around one million tourists annually. "This is due to peaceful and tolerant environment," he added.
Speaking on the occasion, the LCCI President Farooq Iftikhar said that there is a huge scope for expansion in trade and the private sector has the responsibility to be a frontrunner in creating new avenues of establishing trade and investments relations.
The LCCI President said that sustainable efforts are needed to give boost to bilateral trade that is much below the respective potential of the two countries.
Farooq Iftikhar said that the trade and investment ties between the two countries are too weak and simply call for aggressive measures. He said that Pakistani goods are best of the best in the world and has the potential to win respectable place in Mauritius market.
He said that the PTA between Mauritius and Pakistan was signed in July 2007 and it is very encouraging that Mauritius-Pakistan Joint Working Group is now envisaging negotiations for a Free Trade Agreement that hopefully would play a very useful role.
Speaking on the occasion, the LCCI Vice President Mian Abuzar Shad asked a number of questions regarding the level of business facilitation and taxation system in Mauritius.
Pakistan exports to Mauritius comprise rice, cotton yarn, woven fabric, cotton fabric, bakery items and medicament mixtures.