Mauritius-China Free Trade Agreement
Article Published on September 27, 2019
The Mauritian government has agreed to the signing of the Mauritius-China Free Trade Agreement (FTA) which comprises 17 Chapters encompassing: Trade in Goods, Sanitary and Phyto-sanitary Measures, Technical Barriers to Trade, Competition, Intellectual Property, Electronic Commerce, Trade in Services, Investment, Economic Cooperation, among others.
The salient benefits proffered under this FTA are as follows:
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Duty free access on the Chinese market on some 8,547 Mauritian products, representing 96% of the Chinese tariff lines. 88% would be eliminated with immediate effect and the remaining tariffs over a 5 to 7 year period.
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Mauritius has been granted a Tariff Rate Quota of 50,000 tons of special sugar at an in-quota rate of 15% to be phased in over a period of 8 years.
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Mauritius service providers would have access to more than 40 service sectors, including financial services, telecommunications, ICT, professional services, construction and health services.
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Mauritius would also be able to establish businesses in China as wholly owned entities or in joint partnership with Chinese operators.
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Mutual collaboration have been agreed in ten areas, including industrial development aimed at improving competitiveness, manufacturing based on innovation and research, exchange of specialists and researchers to disseminate know-how and for support in technology and innovation
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The setting up of a Renminbi Clearing Centre in Mauritius.