Ghana, Mauritius to tighten trade relations

The Vice Prime Minister and Minister of Finance and Economic Development of Mauritius, Mr Xavier-Luc Duval, is expected to visit the country this week.

His visit forms part of efforts by Mauritius to deepen trade and bilateral relations with Ghana. 

Profile of Mr Duval

Appointed in August 2011, he was previously Vice Prime Minister, Minister of Social Integration and Economic Empowerment (2010-2011). 

Mr Duval was Vice Prime Minister, Minister of Tourism, Leisure and External Communications between 2005 and 2010.  

He was also Minister of Industry, Commerce, Corporate Affairs and Financial Services between1999-2000, and Minister of Industry and Tourism in 1995.

Mr Duval received the Distinguished Foreign Business Leadership Award by the Villanova Business School of the University of Villanova in Philadelphia, USA, in 2012. 

The same year, he was also designated African Finance Minister of the year both by African Leadership Magazine and Africa Investor. 

In 2013, Mr Duval was once again awarded the African Finance Minister title by Africa Investor. 

Again, in April 2014, Mr Duval was awarded the Southern African Economic Development Champion Award by Africa Leadership Magazine and he also received the Special Commendation Award from the Georgia Legislative Black Caucus of Georgia General Assembly. 

This special commendation is the highest award presented by the Georgia Legislative body in honour of outstanding contribution and service to humanity. Mr Duval was selected based on his outstanding contributions to the macro-economic stability, growth and national prosperity of Mauritius; and the creation and expansion of economic development opportunities for Africans.

Ghana-Mauritius Trade Profile

Economy of Mauritius

Mauritius has followed an export-oriented development approach with a focus on export processing zones, foreign direct investment, and trade liberalisation. Mauritius enjoys a low and stable inflation rate and a well-capitalised banking system, but suffers a sizeable current account deficit. Mauritius has previously been compared to Ghana as an example of successful manufacturing sector development. 

Mauritius is a member of COMESA and SADC, and enjoys preferential market access into the EU through the Eastern and Southern African Interim EPA, as well as a Turkey with a bilateral FTA.

Mauritius enjoys export strength in textiles and apparel, raw sugar and processed fish. Mauritius’s most significant imports are petroleum oils, non-fillet frozen fish, cars and coal briquettes. Mauritius’s top export destinations are the UK (17 per cent), France (16 per cent), United States (8.9 per cent), Italy (7.5 per cent) and South Africa (6.9 per cent), and top import suppliers are India (23 per cent), China (14 per cent), France (9 per cent) and South Africa (7.6 per cent). Mauritius suffered a large current account deficit of approximately 10 per cent of GDP in 2013, yet this is forecast by the IMF to improve over the medium-term.

Ghana-Mauritius Trade

Mauritius is Ghana’s 85th largest supplier of imports, supplying 0.01 per cent of Ghana’s imports worth US$1.3 million in 2012, and Ghana’s 100th largest export destination, accounting for 0.001 per cent of exports worth US$0.64 million in 2012. 

Ghana has run a trade deficit with Mauritius in every year from 2000 to 2010, with the exception of 2005. Ghana’s exports to Mauritius have not exceeded US$1 million in any year with the exception of 2005, while imports from Mauritius have averaged US$1.8 million since 2006.

Ghanaian imports from Mauritius were 11 times larger than Ghanaian exports to Mauritius in 2013. 

The largest imports from Mauritius in 2013 were insecticides of which Ghana imported US$5.7 million or 88 per cent of total imports from Mauritius. 

Other imports included some chemicals and allied industries (7 per cent), in particular medicaments; and a small amount of wood and wood products, and machinery/electrical products. 

Ghana’s main exports comprised iron and steel, which amounted to US$0.4 million or 76 per cent of total exports to Mauritius in 2013. However, this is likely a re-export. 

The only other exports of note in 2013 were US$0.1 million in cereal preparations (17 per cent), and US$0.02 million in tuna (3 per cent).