3 September 2018

Mauritius to Sign Four MOUs to Enhance Cooperation in Various Fields

press release

Government has agreed to the signing of four Memoranda of Understanding (MoUs) with the Southern African Development Community (SADC), France, Organisation for Economic Co-operation and Development (OECD), and China in view of further enhancing cooperation in various fields.

The MoU to be signed between SADC Member States pertains to the establishment of the SADC Centre for Renewable Energy and Energy Efficiency. The main objective of the Centre is to contribute towards increased access to modern energy services and improved energy security across the SADC Region through the promotion of market based uptake of renewable energy and energy efficiency. The Centre has been mandated by SADC Member States to play a key role in the implementation of the Southern Africa Renewable Energy and Energy Efficiency Strategy and Action Plan.

Mauritius will sign another MoU with France on "Coopération de Defence" for further collaboration on matters of maritime security and fighting against maritime threats in the Indian Ocean region. It relates mainly to the conduct of joint naval operations by Mauritius and France in the Maritime Zones of Mauritius.

A third MoU relating to Co-operative Activities will be signed with the OECD with a view to strengthening and supporting effective regulation, sound corporate governance and good conduct in Mauritius and in the Southern and Eastern African regions. The areas of cooperation would focus on markets and regulatory conduct and include, among others:

· regulation and supervision of the financial sector, and the development of sound, transparent and efficient financial markets, private pensions and insurance;

· financial literacy and education, financial consumer protection and financial inclusion;

· functioning of capital markets and corporate governance of both listed and state-owned enterprises; and

· anti-bribery and blockchain policy issues in the financial sector and other sectors.

As regards the Free Trade Agreement (FTA), Mauritius and China will be signing a MoU to confirm that negotiations on the FTA have been completed. The FTA would be signed after both sides complete their respective internal processes.

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