A new model based on four pillars, explained Dominique de Froberville – outgoing president of the Mauritius Export Association (MEXA), who has been given a new mandate.
Among them, the emergence of several segments where intensive investment in productive means is strongly encouraged.
The Mauritian industrial sector, focused on exports with textiles leading the way, cannot ignore the transitional movements that all sectors of the economy are facing.
Before things take a turn for the worse and become irreversible, MEXA officials have already taken proactive steps to ensure this transition happens soon.
In this context, the 18th annual general assembly of MEXA, held yesterday morning at the Labourdonnais hotel in Caudan, seemed like the beginning of a new chapter.
With strong government support evident through the presence of Renganaden Padayachy, Minister of Finance, and Naveena Ramyad, newly appointed in the Ministry of Economic Development, MEXA knew that the implementation of a plan for this transition could only be done by themselves.
“The export sector,” emphasized Dominique de Froberville, “needs to adopt a new development model.”
He added, “It is obvious that the Mauritian export sector is at a crossroads. This justifies the need for a fresh perspective on the sector’s destiny.
While developed countries are rethinking their industrial development strategies, Mauritius cannot afford to remain complacent.
To ensure that the Mauritian export sector does not miss out on the modernization process that the global economy is undergoing, a new generation of industrialization strategy is essential.”
From the search for new talents. According to the president of MEXA, the new model for the Mauritian export sector should revolve around:
-The emergence of export-oriented entities willing to invest heavily in equipment to achieve desired results.
-The readiness to use production tools designed with the latest innovative technologies and pushing for the manual to digital transition.
-The search for new talents and expertise when the local talent pool is insufficient.
-A commitment to integrate criteria and obligations that do not harm the immediate environment or community and promote transparency at this level.
Among the warning signs indicating that the export sector needs to prepare to face certain challenges, he cited, among other things: a trend of an 8.4% decrease in exports during the first half of 2024, which could continue into the second half, and the possibility that Mauritius may no longer be able to benefit from trade advantages in the American market with the expiration in 2025 of the African Growth and Opportunity Act.
This act, created by the US Congress, allows products from African countries to enter the American market under specific conditions.
Both ministers have promised to support the export sector during this transitional period where challenges will not be ignored.
“It is needless to say,” emphasized Naveena Ramyad, “that the mission of the ministry I lead is to promote the development of the export sector in line with constantly reviewed policies and strategies to address current challenges.
The main objective is to strengthen the current employment capacity of this sector, create new jobs, contribute to improving the inflow of foreign currency into the country, and accelerate the use of technology to generate more economic wealth.”
Renganaden Padayachy, with figures and data to support his statements, extensively discussed the significant contribution of the export sector to the country’s Gross Domestic Product.
He indicated that solutions to the export sector’s challenges can be sought through economic partnership agreements signed with other countries.
One of these Comprehensive Economic Partnership Agreements, mentioned by MEXA, is the one signed with the United Arab Emirates.
Source: l’Express
