Pakistani textile exporters called to explore business prospects in Mauritius

Mauritius President Dr Ameenah Firdaus Guarib-Fakin during a meeting with the All Pakistan Textile Mills Association (Aptma) on Wednesday has invited Pakistani textile exporters to explore business opportunities in addition to arranging a fashion show of Pakistani brands in the country.

She said that there were huge opportunities on the technical side of the textile sector in Mauritius – a small island nation located on the east of mainland Africa and often termed ‘the gateway to Africa’ – that remained unexplored.

Mauritius is recognized among the first six places in the African region, recommended to people who wish to relocate. It is one of the leading areas in the region in terms of ease of doing business and good governance as per the World Bank Ease of Doing Business report 2016.

Mauritius, since its independence in 1968 has experienced a sustainable transformation; moving from a mono-crop agricultural base to a well-diversified economy. The government of Mauritius provides ten-years exemption from income tax on all income, inclusive of foreign investment under the Mauritian Diaspora Scheme.

Also, there is no minimum capital requirement for incorporating a company; 100% foreign ownership is allowed and there exists no exchange control for foreign investment.

Aptma Chairman Tariq Saud said that there was a need of close liaison between the business communities of the two countries and invited Mauritian entrepreneurs to enter into joint ventures with Pakistani textile mills.

Moreover, Pakistani entrepreneurs to penetrate the United States (US) and European markets could also take advantage of Mauritius.