Mauritius launches Speed-To-Market Scheme to boost exports to the European Union
The Air Freight Rebate Scheme for textile and apparel known as the ‘Speed-to-Market’ Scheme (STMS) as announced in the Budget Speech 2016/17 by the Minister of Finance and Economic Development will be launched this month after consultations with the various stakeholders.
STMS aims at developing the ‘Speed-to-Market’ textile and apparel export segment in the wake of Brexit. It will also allow Mauritian textile and apparel exporters to become more competitive vis-à-vis other countries exporting via air freight to Europe.
Another objective is to enhance the competitiveness of Mauritian exports in the European market, especially in terms of speed of delivery while at the same provide support to the textile and apparel enterprises facing difficulties in the wake of Brexit.
The scheme will be applicable to the textile and apparel manufacturing companies and will provide a 40 % refund on air freight cost to exporters to Europe including UK; be time-bound for 2 years; and will be operated and managed by Enterprise Mauritius.
The refund will be applicable for exports as from 1st April 2017.
10 Jan 2017