U.S., Mauritius focus on trade opportunities
U.S. and Mauritian government officials met Tuesday at Pointe Aux Piments to continue fostering trade relations as part of a Trade and Investment Framework Agreement, which the two countries entered in 2006.
'Mauritius has one of the most open and dynamic economies in sub-Saharan Africa and is a leader among those developing countries seeking to advance economic development through trade,' said Assistant U.S. Trade Representative Florizelle Liser, in a statement.
Through the TIFA, the Office of the U.S. Trade Representative noted that Mauritian firms have participated in a variety U.S. trade shows, 'resulting in millions of dollars in new trade deals.' The TIFA has also enhanced cooperation between Mauritius and U.S. trade agencies on topics such as trade promotion, sanitary and phytosanitary issues, and trade-related infrastructure, the agency said.
According to the USTR, total two-way trade between Mauritius and the United States was valued at $227.7 million in 2008, a 4 percent decline from 2007, due mostly to decreases in Mauritian textile and apparel exports, as well as global competition in that sector. Also in 2008, Mauritian exports under the African Growth and Opportunities Act and the Generalized System of Preferences were valued at $103.7 million, a 15 percent decline over the same period in 2007, again largely due to the fall in textile and apparel exports.
Leading Mauritian exports to the United States include textile and apparel, cut diamonds and jewelry, live animals, prepared fish, optical and medical instruments, and perfume, while the leading U.S. exports to Mauritius are wheat, diamonds and jewelry, and machinery.