Today, Monday, the UAE and Mauritius signed a comprehensive economic partnership agreement between the two countries, which is the first of its kind that the UAE has concluded with an African country, according to a statement from the UAE government media office.
The agreement, which was witnessed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and Pravind Kumar Jugnauth, Prime Minister of the Republic of Mauritius, aims to contribute to increasing the UAE’s gross domestic product by 0.96 percent by 2030, and adding 1 percent to the GDP. GDP of Mauritius in the same period.
Sheikh Mohammed bin Rashid Al Maktoum stressed that the signing of this historic agreement reflects the UAE’s commitment to concluding development partnerships to achieve the interests of the people as a consistent approach for the state.
He added: "The partnership agreement with the Republic of Mauritius embodies our shared vision and our keenness to improve bilateral relations, promote economic growth, and create more opportunities for the two friendly peoples, so that together we can create a brighter future and strengthen the ties that unite us."
For his part, Pravind Kumar Jugnauth said: “The UAE is an important partner in facilitating the free flow of trade and investments around the world, enhancing international cooperation and maintaining regional stability.”
He added: “Today, after signing the Comprehensive Economic Partnership Agreement between the UAE and Mauritius, we are in the process of inaugurating a new era that will not only strengthen our bilateral relations, but will contribute to joint economic growth and pave the way for enhancing cooperation and integration in various sectors. This agreement is not limited to removing barriers to trade in Not only goods and services, but it is about promoting a deeper understanding and a promising partnership that will benefit the economies of the two countries, their people, the Gulf region, and the continent of Africa in general.”
The agreement builds on a solid foundation of growing economic relations between the UAE and Mauritius, as intra-oil non-oil trade recorded $76 million in the first four months of 2024, an increase of 82.5 percent compared to the corresponding period in 2023, while non-oil intra-trade recorded $170.4 million in 2023, a growth of 14.5 percent compared to 2022. Today, the UAE is the eighth largest investor in Mauritius, having allocated $13.2 billion to support projects in the fields of tourism, real estate, renewable energy, and technology.
The agreement was signed by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Manish Gobin, Minister of Foreign Affairs, Regional Integration and International Trade of the Republic of Mauritius.
The agreement contributes to deepening trade and investment relations, accelerating the pace of growth in priority sectors. It will also support the creation of job opportunities, strengthen supply chains, and allow companies in the Emirates and Mauritius to access markets. Under the agreement, Mauritius will cancel 99 percent of customs duties on imports from the UAE, while the UAE will cancel 97 percent of those duties.
It is worth noting that foreign trade is an essential pillar of the UAE’s economic agenda, as the UAE’s trade in non-oil goods reached its highest levels in 2023, reaching a value of $701 billion, an increase of 12.6 percent over the year 2022, and 34.7 percent over the year 2021. The Comprehensive Economic Partnership Agreements are considered an essential pillar for achieving the goal of reaching the total value of non-oil trade to $1.1 trillion by 2031. The Comprehensive Economic Partnership Agreements program has so far succeeded in securing access to markets that include nearly two billion people, or approximately a quarter of the world’s population.
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