16 July 2015

Mauritius and Zambia sign investment protection pact

Mauritius and Zambia signed an Investment Promotion and Protection Agreement (IPPA) on Tuesday 14 July 2015 at the Government House in Port Louis. The Minister of Finance and Economic Development, Honourable Mr Vishnu Lutchmeenaraidoo, signed on behalf of the Mauritian side, whilst the Minister of Commerce, Trade and Industry of Zambia, Honourable Mrs. Margaret D. Mwanakatwe, signed for the Zambian side.

During his speech, Minister Lutchmeenaraidoo spoke about the vision of Mauritius to identify and explore new growth opportunities on the African continent as part of a robust South-South cooperation. The IPPA with Zambia the 21st such agreement Mauritius is signing with an African country. Africa is rising, and Mauritius endeavours to play an even more meaningful role in the African growth story. The Minister said that the Mauritian port is poised to play a defining role in the regional maritime trade in the light of the continent’s new economic configuration.

The new economy strategy of Mauritius shall rest predominantly on the three key pillars, namely deeper cooperation and integration with the African continent, the ocean economy and the port, according to the Minister of Finance and Economic Development.

With the new IPPA, Mauritius and Zambia will pursue broader and deeper economic cooperation. Mr Lutchmeenaraidoo proposed the setting up of a Joint Economic Commission between the two countries in view to speed up bilateral trade and investment exchanges as well as sharing of know-how.

A Double Taxation Avoidance Agreement (DTAA) between our two countries is in force since June 2012.

The Minister of Commerce, Trade and Industry of Zambia, Honourable Mrs. Margaret D. Mwanakatwe, considers the time is opportune for closer economic ties between our two countries.  “The opportunities are immense” she stated. “There is so much to learn from Mauritius in textiles and tourism”. Zambia, on the other hand, has a lot to offer in the area of agriculture.

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