First consignment to Shanghai under free trade pact

Mauritius-based textile factory, Wensum, has exported its first consignment of luxury suits (worth Rs4million) to Shanghai – the first successful deal concluded as part of the free trade agreement with China (signed and effective since 2019). 

L’Express reported that the deal comes as a breath of fresh air for the company which went under voluntary administration in June 2020.

It was acquired as “a going concern” by businessman Avinash Gobhurdhun for Rs30million.

The SME Fund, a subsidiary of the State Investment Corporation (SIC) is a minority shareholder in the company, having invested Rs10million.