[ Home ] [ Speeches & statements ]

6 February 2009

The Minister of Trade and Industry, Mandisi Mpahlwa, has appealed to South African business people to take advantage of investment opportunities in their fellow Southern African Development Community (SADC) member state, Mauritius. Minister Mpahlwa was speaking at the signing ceremony of a Memorandum of Understanding (MoU) on economic co-operation between the two countries, which took place at Radisson Hotel, in Cape Town. The Mauritian Minister of Foreign Affairs, Regional Integration and International Trade, Dr Arvin Boolell, also attended the ceremony.

“I would like to appeal to South African business here today, that the South African Government has made serious attempts at creating a proper environment for outward-investments towards the continent and Mauritius in particular, which will culminate in the signing of the MoU today. For example, the amount of foreign investment allowed for South African companies is R750 million per approved investment in the SADC region, which applies to the rest of the continent, compared to R500 million allowed to countries outside the continent. This demonstrates the seriousness in which our government views its role in Africa. We, therefore, encourage South African business to follow suit,” appealed Minister Mpahlwa.

He added that South Africa and Mauritius, as members of SADC, had committed themselves to the harmonisation of standards and the fast-tracking of industrialisation in the region. He stated that the MoU on economic co-operation would provide a tangible framework for action in this regard.

“The South African Government, through the Department of Trade and Industry (the dti), has adopted a bilateral strategy for economic engagement with the Government of Mauritius, in line with the partnership strategy we have adopted for the continent. The main objective of this strategy is to achieve mutual economic growth and development through outward investment facilitation, infrastructure development and trade liberalisation,” said Mpahlwa.

Dr Boolell said his government has gone out of its way to ensure that the economic environment in Mauritius was conducive for doing business, without hindrance.

“We have always had excellent relationships with South Africa, and your country has responded to the needs of Mauritius without fail throughout these cordial relationships. Mauritius is open for business. We have worked hard to remove bottlenecks that stifle economic activity and entrepreneurship. We are on a mission to attract investors to the country. Opportunities are there for South African companies to explore, with the aim of investing in Mauritius,” said Boolell.

As stipulated in the MoU, signed on 5 February 2009, the two countries agree to:

* further strengthen and deepen their friendly relations
* find new approaches and strategies of consolidating, expanding and deepening areas of economic development, industrial and trade co-operation, with specific focus on economic empowerment
* vigorously promote investment and intensify efforts to promote trade between the two countries, with a view to expanding the volume of trade and reducing the trade imbalance, which is currently in favour of South Africa
* identify strategic infrastructure development projects, in order to enhance the competitiveness of Mauritius
* develop industrial and technological co-operation between private sector enterprises and organisations of both countries
* encourage and facilitate strategic alliances between institutions of both countries in the field of human resource development, science and research, and higher learning.

For more information contact:
Sidwell Medupe
Tel: 012 394 1650
Cell: 073 522 6801
E-mail: msmedupe@thedti.gov.za

Lillian Mofokeng
Tel: 012 394 1775
Cell: 082 888 8362
E-mail: LMofokeng@thedti.gov.za

Issued by: Department of Trade and Industry
6 February 2009