The Australia-Africa Chamber of Commerce (AACC) and the Australian Chamber of Commerce Mauritius (AustCham) entered into a Memorandum of Understanding (MOU) on Monday 29th October 2018.
The MOU was signed by Mr Duncan Harris, President of AACC and Mr Graeme Robertson, President of AustCham during the Africa Focus Day at the International Mining and Resources Conference (IMARC) in Melbourne.
"The Australia Africa Chamber of Commerce is a national body whose fundamental objective is to facilitate trade and investment with Africa.
"We are actively engaged in discussions with Austrade to provide and complement their market reach into Africa. This entails working with them in the design and development of a new digital platform that will provide various channels to meet the communication requirements of today's and tomorrow's business world with the AACC looking to be the conduit to the Africa market," said Mr Harris in his opening address.
The objectives of the MOU are to establish a formal association between both parties in the development of business relationships between Australia and Africa using Mauritius as a platform and to identify opportunities for Australian corporations to manage and structure potential investments in Africa.
Both AACC and AustCham believe that Mauritius can be a launching pad for Australian businesses entering into Africa. The model is similar to the role that Singapore has played in the development of investment in Asia.
"Mauritius is the wealthiest and most business-friendly African country with low tax rates and a vibrant financial sector geared to African growth. The island nation is also well-regulated and compliant, with a quality Arbitration Centre and an active Stock Exchange available for secondary and main board listings.
"For these reasons, the relationship between Australia and Mauritius to Africa is hugely beneficial to the structure of Australian businesses seeking a presence in Africa."
"IMARC is an opportunity to create awareness of our organisation as it is through the activity of many of the Australian mining companies that have enabled other sector development for Australian companies in Infrastructure, Energy and Renewables, Agribusiness, Education and Healthcare," continued Mr Harris.
Australia has a population of more than 50,000 Mauritians, making it the largest home for Mauritians outside Mauritius.
The ceremony was attended and witnessed by Australian companies with operations in Africa as well as officials from Australia and Mauritius.