Business

Statistics

• GDP: US$6.7 billion (2005 estimate).
• Main imports: Manufactured goods, capital equipment, foodstuff, petroleum products and chemicals.
• Main exports: Clothing and textiles, sugar, cut flowers and molasses.
• Main trade partners: France, UK and other EU countries such as Germany and Finland.

Economy

Historically, sugar has dominated Mauritius’ agricultural economy and today accounts for 25% of export earnings. Since independence in 1968, the government has deliberately sought to diversify by developing the industrial and service components of the economy.
 
The island’s industrial capacity is centred on a number of Export Processing Zones and its service economy is based on tourism and financial services, as well as a growing telecommunications provision which has attracted more than 9,000 offshore entities. Tourism is well established and now worth over US$500 million annually. Investment in banking is more than US$1 billion. The overall economy grew at 2.5% in 2005, with inflation at 5% and unemployment 9.6%.

The government’s economic policy aims to counter the threat to the two largest sectors of the economy (sugar and textiles) from new regulations introduced by the World Trade Organization. The centrepiece of its strategy is the creation of a custom-built ‘cyber-city’, based on similar development in India, using high-speed communications links to offer e-commerce and financial transactions. It also becomes a duty-free shopping zone by 2010.

Mauritius is a member of the Indian Ocean Commission, which promotes regional economic cooperation, and of the Southern African Development Community.

Business Etiquette

Suits are usually worn in business circles. As a multicultural island, business etiquette varies between communities. But in all business transactions, hospitality and personal relationships are central here.

Office hours: Mon-Fri 0900-1600, Sat 0900-1200 (some offices only).

Business Contacts

Mauritius Chamber of Commerce and Industry
3 Royal Street, Port Louis, Mauritius
Tel: 208 3301.
Website: www.mcci.org

Conferences & Conventions

With its fabulous hotels and great beaches, sunshine and high quality food, ecotourism offerings and more, Mauritius is courting the conference and incentive market. A new International Conference and Exhibition Centre opened in 2004, which with a capacity of 2,500 is the largest in the Indian Ocean.