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.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.Mauritius service providers would have access to more than 40 service sectors, including financial services, telecommunications, ICT, professional services, construction and health services.Mauritius would also be able to establish businesses in China as wholly owned entities or in joint partnership with Chinese operators.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 innovationThe setting up of a Renminbi Clearing Centre in Mauritius.