DCCI discusses developing trade ties with Mauritius

Mr. Sultan Lootah, Director of Business Promotion Department at the Chamber initiated the meeting with a welcoming speech wishing their mission to be a success.

He stressed the importance of Dubai as an international trading and economic center, as the emirate enjoys extensive relations with more than 165 countries, and is deemed an attraction point for investors and businessmen from all over the world, thanks to the investment and business atmosphere, non-personal and corporate taxation and freedom of transferring funds, as well as the political, economic and social stability.

He told the visiting delegation that Dubai had undergone key phases of development at all levels where it currently enjoys developed infrastructures of road networks, transports, telecoms and IT. In the past years, significant changes took place that made Dubai a vibrating city and abounded with enormous activities economically and financially.

Mauritius exports textiles, food stuffs and flowers and other products to the UAE, Mr. Sultan Lootah recommended that Mauritius should have a physical trading representation in Dubai, which is bound to help Mauritius reach other markets in the region through Dubai as a hub.

When asked about the main markets for Mauritius's exports in the Middle East, Mr. Lootah said, "The GCC countries, some North African countries, Iran and Pakistan. Those countries import large quantities of consumed goods, electronics, textiles and ready-made garments."

Dubai's exports value to the Middle East countries exceeds AED 2.2 billion and AED 21.5 billion in 2004 as re-exports. These figures are expected to rise in the coming years.

Based on the latest statistical figures, the total non-oil trade between Dubai and Mauritius is AED 48 million exports and re-exports including textiles, machinery, mechanical appliances and electronics.

Mr. Sultan Lootah, Director of Business Promotion Department at DCCI added that it is necessary that companies from Mauritius participate in trade exhibitions and fairs on a regular basis for the important opportunity these activities provide for the promotion of different products and services, as these exhibitions and fairs witness attendance of businessmen from different Middle Eastern countries, Africa and Central Asia.

Furthermore, the negotiations between the UAE and Mauritius to sign an agreement on the avoidance of double taxation have been concluded and the initial signing of the agreement was done. By signing such agreement, investors from both sides will be encouraged to set up either joint adventures or direct investments.