Memorandum of Understanding signed to bolster Mauritius-Russia Investment & Trade Opportunities

The second edition of the Mauritius-Russia Investment and Trade forum saw the signing ceremony of two Memorandum of Understanding between the Mauritius Economic Development Board (EDB) and the Moscow Chamber of Commerce and Industry and the Lipetsk Chamber of Commerce and Industry.  The objective: To promote Mauritius as a platform for investment in Russia.

Mauritian exports to Russia in 2017 were $2.1 million. The top three products exported to Russia include tuna, special sugars and T-shirts. This was said by Charles Cartier, the president of EDB at the Business Forum held on Monday 19 November. In terms of foreign direct investment (FDI), Mauritius registered $3,910,000 FDI.

The business forum provided a platform to foster greater interaction with the 25-member strong business delegation led by Mr. Denis Karmalskiy, First Secretary of the Russian Federation to the Republic of Mauritius and the Mauritian Business Community.  It should be highlighted that the delegation is on an official visit to Mauritius from 19th to 21st November 2018.  The business forum was attended by 80 participants from both the private and public sector.

In context of the Russia-Africa Summit which will be held next year, Mauritius is expected to play a strategic role due to its memberships to regional blocs such as SADC, COMESA & EAC.

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