The Economic Development Board (EDB) Mauritius has signed a Memorandum of Understanding (MoU) with the Dubai Chamber of Commerce and Industry to boost bilateral trade and investment opportunities across strategic sectors.
As part of the agreement, EDB Mauritius will establish a representative office within the premise of Dubai Chamber of Commerce and Industry for an initial period of two years.
The key objectives of the EDB Dubai Office will be to identify trade and investment opportunities which will benefit UAE and Mauritian businesses with a specific focus on the Financial Services, ICT, Manufacturing, Healthcare, Logistics, Ocean Economy, Renewable Energy and Property Development sectors.
Stronger business relations
Both parties have committed to establishing a framework for developing stronger business relations and cooperation procedures to enhance the achievement of their respective economic objectives and create new channels of business exchange.
The MoU also aims to strengthen institutional relations and capacity building through cooperation, exchange of information and exchange of best practices.
Prithvirajsing Roopun GCSK, President of the Republic of Mauritius and head of the Mauritius delegation at the MoU signing ceremony, said: “Throughout our successful presence at Expo 2020 Dubai, we have observed several economic ambitions that are shared between the UAE and Mauritius. The commitment and progress in areas such as financial services, technology, and energy, among others, in the UAE is truly remarkable.
Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, congratulated the Economic Development Board of Mauritius for setting up their representative office at Dubai Chamber of Commerce, and the partnership established by the MoU signing.
New channels of exchange
The agreement lays the groundwork for developing stronger business relations and create new channels of business exchange, Al Ghurair explained, describing the strategic move and signing as important developments that will take Dubai’s trade relations with Mauritius to the next level and create many bilateral business opportunities.
The MoU signing ceremony took place on March 16 at the Dubai Chamber of Commerce and in the presence of Al Ghurair, Roopun GCSK and Dr Renganaden Padayachy, Minister of Finance, Economic Planning & Development.
The delegation was led by the President of the Republic of Mauritius, who arrived in Dubai on March 15 to commemorate Mauritius national day celebrations at Expo 2020 and to bear witness to the agreement.
Accompanying the President was Minister of Foreign Affairs, Regional Integration and International Trade; Minister of Finance, Economic Planning and Development; Secretary to Cabinet and Head of the Civil Service; Ambassador of Mauritius to the UAE; Chairman of EDB Mauritius and CEO of EDB Mauritius among other senior government representatives. Signing on behalf of the Dubai Chamber of Commerce was Hassan Al Hashemy, Vice President - International Relations at Dubai Chamber of Commerce and Industry in the presence of Ken Poonoosamy, CEO of EDB Mauritius.
Industry events at Expo 2020
The agreement comes after more than five months since Expo 2020 Dubai began. During this time, EDB Mauritius has hosted a range of successful industry events to showcase the nation’s leading capabilities and potential in financial services, real estate, logistics and distribution, and responsible manufacturing.
The signing ceremony took place shortly after Mauritius national day festivities at Expo 2020 which included a cultural show at Al Wasl plaza and a public dodo collage contest at the Mauritius Pavilion, located in the Opportunity District.
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