adminregional trade, visiting Mauritian Minister of Commerce and Consumer Protection has said.
Mr Cader Sayed-Hossen said there is need for greater bilateral trade ties between Zimbabwe and Mauritius.
He was speaking during the Mauritius-Zimbabwe Buyers and Sellers Conference Networking dinner in the capital on Tuesday.
“As African countries we should not overly depend on the United States and Europe for trade because there is a global shift that is happening towards greater intra-regional trade, which is critical for the growth of developing countries.
“There is therefore need to enhance trade between countries in the region, as well as enhancing trade relations with emerging regional markets and/or blocs such as the Brazil Russia India and China economies,” he said.
According to the United Nations Conference on Trade and Development World Investment Report 2011, the extent of intra-regional foreign direct investment and trade in Africa is still very limited.
The report reveals that South Africa dominates most of the intra-regional trade and investment over other countries, outside of which intra-regional trade and investment is still underdeveloped on the continent.
Mr Sayed-Hossein also urged countries in the region to take advantage of the continent’s vast natural resources and abundant labour.
Latest trade statistics show that trade is still very constrained between the two countries at just under US$6 million. Zimbabwe imports products from Mauritius to the tune of around US$2 million, while Mauritius is
importing goods from Zimbabwe to the tune of US$3 million.
Speaking at the same event Economic Planning and Investment Promotion Minister Tapiwa Mashakada said Zimbabwe was looking forward to the enhancement of trade between the two countries, especially in view of a pending ratification of a Bilateral Investment Promotion and Protection Agreement with Mauritius.
“We already have a Bippa with Mauritius, and we are moving with speed to ratify that Bippa and others,” he said.
Minister Mashakada said some sectors which the Mauritian private sector and government could take advantage of include training in diamond-cutting and polishing, food-processing, and ethanol-blending.
He added: “Co-operation in the aviation industry is also key. There is need for resuscitation of the Zimbabwe-Mauritius route.
“We are also looking for a strategic partner for Air Zimbabwe and that should be of interest to Mauritius.”
Enterprise Mauritius (organisers of the Zimbabwe-Mauritius Buyers and Sellers expo) chief executive officer Mr Dev Chamroo said Zimbabwe can draw lessons from the Mauritian experience, with regards to diversifying its economy but simultaneously strengthening its core competencies.
Mauritius has emerged as an economy of note in recent years.
According to the latest World Economic Forum Global Competitiveness Report, Mauritius is ranked 54th, up one place since last year, the second-highest ranked country in the region after South Africa. The country typically benefits from strong and transparent public institutions, with clear property rights, strong judicial independence, and an efficient government.
Private institutions are rated as highly accountable (19th), with effective auditing and accounting standards and strong investor protection. The country’s infrastructure is well developed by regional standards, particularly its ports, air transport, and fixed telephony. Its health standards are also impressive compared with those of other sub-Saharan African countries.
Further, its goods markets are efficient (28th).
Zimbabwe has initiated reforms to improve its ease of doing business rankings and can learn a lot from Mauritius.
Online Reporter