Karachi: Mauritius High Commissioner Rashid Soobadar has urged the business and industrial community of Karachi to look into the possibility of enhancing trade in Africa and venture into the huge continent via Mauritius which can be used as a platform to efficiently and safely penetrate into 55 countries in the African region.“The scope in Africa is tremendous, which is developing fast and has a bright future. Hence, the business community of Karachi should take advantage of the situation by registering their companies in Mauritius. Once the company is registered in Mauritius, it will be able to enjoy all the benefits including duty-free access under numerous agreements with African countries”, he added while speaking at a meeting during his visit to Karachi Chamber of Commerce and Industry (KCCI) .
KCCI President Muffasar Atta Malik, Senior Vice President Abdul Basit Abdul Razzak, Honorary Consul of Mauritius in Karachi Sohail Yasin Suleman, Commercial Head Muhammad Sajjad Azam and KCCI managing committee members also attended the meeting. Mauritian high commissioner stated that besides exploring trade and business ties in Mauritius, the business and industrial community can also look for opportunities in neighboring countries including Madagascar, Seychelles, Tanzania, Rwanda, and Mozambique.
Referring to the forthcoming visit of KCCI’s delegation to Mauritius, he advised delegation members to identify the fields of interests in Mauritius. Meanwhile, The Mauritian Board of Investment, High Commission, and Honorary Consulate will extend full support and cooperation to businessmen and industrialists intending to initiate businesses in a very congenial atmosphere in Mauritius. Earlier, KCCI President Muffasar Atta Malik, in his welcome note, stressed the need for taking more trade promotional initiatives to improve the existing meager trade volume between the two countries.
He further informed the high commissioner that Karachi Chamber plans to send a delegation to Mauritius in the last week of February 2018 to explore trade and investment opportunities between the two countries. He requested the high commissioner to fully facilitate KCCI’s delegation to Mauritius by arranging a maximum number of meetings with their counterparts in Mauritius so that the delegation’s visit proves to be fruitful and result-oriented. Muffasar Malik said that Karachi offers profitable investment opportunities and added facilities for investment and joint ventures to Mauritian Business Community. The city, which contributes more than 65% revenue to the national exchequer, is an attractive place for foreign investors, who can surely earn maximum profits by setting up their businesses and undertaking joint ventures.
Referring to the two Special Economic Zones (SEZs) being established in Karachi, he advised the Mauritian business community to take interest in these economic zones where they can enjoy a tax holiday for up to 10 years along with many other benefits, particularly the one-window operation facility. “China-Pakistan Economic Corridor (CPEC) is a game changer project which will lead to improved regional economic integration and transform Pakistan into a Central and South Asian economic hub”, Muffasar Malik said, “Foreign investors have started showing keen interest in Pakistan and I am confident that CPEC will bring in a paradigm shift in the business and industrial scenario of the entire region, hence the Mauritian investors must also take advantage of the situation by either investing or undertaking joint ventures in CPEC-related projects.”