Page 401 - MOE ENGLISH PR REPORT - JULY 2024

Abdullah bin Touq Al Marri, Minister of Economy, said, “Mauritius is a rapidly growing
economy that serves as an important gateway into Africa. With real GDP growth
projected to reach 3.8 percent and 4.2 percent in 2024 and 2025, respectively, Africa
has emerged as an important hub of global growth.”

He added, “The UAE-Mauritius Comprehensive Economic Partnership Agreement
builds on nearly five decades of trade ties between our two nations and represents
another important step in the expansion of our global trading network and our mission to
double the size of our economy to AED 3 trillion by 2031."

Al Marri further said, “It’s clear that greater economic integration between our nations
will reap considerable rewards for us both. Our CEPA will enhance the flow of goods
and services between the Gulf and Africa, create new market opportunities for our
exporters, and increase investment into priority sectors such as logistics, manufacturing,
tourism, and financial and professional services. We look forward to fully realising the
benefits of this deal in the months and weeks ahead.”

Mohammed Hassan Al Suwaidi, Minister of Investment, said, “The UAE is actively
expanding its global network of investment and trade partners by establishing
Comprehensive Economic Partnership Agreements with high-growth economies around
the world. Mauritius, with an 8.5 percent GDP growth in 2022, the highest in 35 years, is
widely recognised as one of the most promising economies in Africa.”

He added, “The Comprehensive Economic Partnership Agreement between the UAE
and Mauritius, the first of its kind with an African country, is expected to facilitate
increased investment flows with this fast-growing economy. This agreement, particularly
beneficial for Emirati companies specialised in the services sector, which accounts for
approximately 67 percent of Mauritius’s GDP, will unlock numerous opportunities for
collaboration and investment."

Al Suwaidi further said, “Sectors such as ICT, tourism, transport, and financial services
are especially set for growth and represent attractive investment prospects for Emirati
companies seeking to expand into Africa. We look forward to working with our partners
in Mauritius to leverage the potential of this agreement and realise its ambitious goals.”

Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change and the Environment,
said, “The UAE’s Comprehensive Economic Partnership Agreement with Mauritius is an
important addition to the nation’s foreign trade agenda, in particular our pursuit of food
security. Arable land is one of the most critical natural resources in Mauritius,
representing nearly 40 percent of the country’s total area, and our nations not only have
the opportunity to develop this critical sector, we can also join forces to offset the impact
of climate change which threatens its long-term viability.”

https://wam.ae/en/article/b4ag6p1-uae-ministers-officials-emphasise-importance