Mauritius participates in the Commonwealth Business Forum 2015
Commonwealth Business Forum, 24 - 26 November 2015, in Malta
“Adding Global Value - Creating a More Prosperous Commonwealth”
The Rt. Honourable Prime Minister of the Republic of Mauritius, Sir Anerood Jugnauth, GCSK, KCMG, QC, led an official delegation to the 10th Commonwealth Business Forum which was held from 24th to 26th of November in Malta, as part of the Commonwealth Heads of Government Meeting (CHOGM). The Commonwealth Business Forum brought together some 1,300 business leaders from 75 countries with Heads of Government, Ministers and senior officials from the 53 Commonwealth countries.
In addition to the overarching pan-Commonwealth themes of trade, investment, entrepreneurship and employment, sustainability is one of the seven priority areas of focus identified for the Forum including financial services, infrastructure, technology, health care, tourism and the maritime industry.
In order to make the theme of the business forum “More Prosperous Commonwealth” a reality, some 17 country or regional focused sessions were conducted and an online platform facilitated around 250 pre-arranged meetings between business leaders.
BOI interacted with the investor community present on business opportunities in Mauritius. The Forum was also supported by the World Association of Investment Promotion Agencies (WAIPA).
A research, launched by the Commonwealth Secretariat during CHOGM, revealed that annual intra-Commonwealth trade currently stands at US$592 billion which is projected to increase to US$1 trillion by 2020 and US$2.75 trillion by 2030. Five new initiatives to strengthen Commonwealth trade and investment were announced, namely the Commonwealth Green Finance Facility, Commonwealth First, The Commonwealth Trade Initiative, Commonwealth Healthcare Business Group and The Global Goals Commonwealth Sustainable Business Challenge.
Sir Anerood Jugnauth delivered a key note address in the session themed ‘Financial and Professional Services: Delivering Jobs and Growth’ on Wednesday, 25th November. The impact of financial and professional services on the economies of nations and on the global financial and labour markets was highlighted.
Mauritius was cited as a vivid example of what the financial services sector and the services sector at large can bring in terms of economic benefits and job creation, with reference made to the bold deregulatory measures put in place, development of money and capital markets, establishment of an effective regulatory framework and supervisory institutions and to the avant-garde vision and competences of the ambitious and knowledgeable youth of Mauritius.
Sir Anerood Jugnauth added that the youth must be provided with all the support needed for them to work collectively in a borderless and globalised world. He concluded that growth within the Commonwealth and around the world can largely be achieved as a result of the increasing buoyancy and the role that financial and professional services are playing in the global economy.