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Consolidating Business and Investment ties between Mauritius and Russia

In the margins of the 5th Round of Political Consultations Mechanism between Mauritius and the Russian Federation, the Honourable S. Lutchmeenaraidoo, GCSK,  Minister of Foreign Affairs, Regional Integration & International Trade, led a high-level institutional delegation to Moscow. The Board of Investment (BOI), in collaboration with the Chamber of Commerce and Industry of the Russian Federation, the Moscow Chamber of Commerce and Industry and the Coordinating Committee On Economic Cooperation with Sub-Saharan Africa (AfroCom) organised a Business Forum in Moscow on Tuesday 14th  November 2017, themed ‘Mauritius: An Investment Platform of Choice’.

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The Hon. Minister of Foreign Affairs, Regional Integration & International Trade of Mauritius provided a keynote address during the Business Forum and highlighted opportunities for Russian businessmen to use Mauritius as a platform to invest in Africa. Key topics such as Ease of Doing Business in Mauritius, as well as investment opportunities in the Ocean Economy were also addressed. The Honorable Minister also announced the consolidation of economic diplomacy initiatives with Russia. The importance of having direct flights between Russia and Mauritius was also highlighted.

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The Business Forum provided Russian businessmen and investors with a platform to apprise themselves on investment opportunities in Mauritius, new areas of development and the advantages of using Mauritius as logistics and financial services platform. Eighty Russian businessmen attended the Forum. They expressed interests to explore opportunities in property development, ship building, marine R&D activities for the cosmetics industry, warehousing of rails and rolling stock components for Africa, as well as using Mauritius as a point of entry to carry out agricultural production in Africa.

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The Board of Investment, the Chamber of Commerce and Industry of the Russian Federation, the Moscow Chamber of Commerce and Industry and AfroCom are jointly planning an inward mission of Russian investors and businessmen to Mauritius early next year. BOI and AfroCom are finalising the signature of an MOU to facilitate Russian investments into Africa, using Mauritius as a platform. AfroCom is tasked with the responsibility of consolidating efforts of the Russian business community, government and non-government institutions to step up economic activities on African markets and to support Russian exports to Africa. AfroCom works closely with governments, multilateral groups and business to improve Russian-African trade and investments flows and to promote Africa and the opportunities it provides amidst the Russian business community. With a membership of more than 120 companies and organizations, AfroCom serves as the bridge between Russia and Africa. The Russian Chamber of Commerce and Industry englobes 181 Chambers of Commerce and Industry, 200 sectoral associations and 300 companies in the Russian Federation.

The Board of Investment is working in close collaboration with the Embassy of Mauritius in Moscow to support the economic diplomacy initiatives of Mauritius in the Russian Federation with the aim of boosting trade and investment between the two countries.

 

20 November 2017