BIZweek n°370 26 nov 2021
BIZweek n°370 26 nov 2021
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  • Parution : n°370 de 26 nov 2021

  • Périodicité : hebdomadaire

  • Editeur : Capital Publications Ltd

  • Format : (260 x 370) mm

  • Nombre de pages : 8

  • Taille du fichier PDF : 2,2 Mo

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VENDREDI 26 NOVEMBRE 2021 BIZWEEK ÉDITION 370 LA TOUR ATELIER DE TRAVAIL À L’HÔTEL LE MÉRIDIEN David Hotte  : « Le delisting de Maurice a été très rapide et un succès » La sortie de Maurice de la liste grise a été un travail d’équipe. Le comité d’assistance technique est constitué de plusieurs organisations et institutions internationales telles le Royaume-Uni, le Fonds monétaire international et les autorités mauriciennes, a fait ressortir le Team Leader de l’EU Global Facility, David Hotte lors de l’atelier de travail régional lancé le lundi 22 novembre « Le delisting est un succès pour Maurice parce qu’en dépit du lockdown et du COVID, le pays a démontré qu’il a pu avancer en matière législative et en matière de technicité sur le blanchiment et le financement du terrorisme. Ça a été un succès dans le sens que Maurice est sorti assez rapidement de la liste, en moins de 24 mois. C’est très rapide pour un pays ». a-t-il fait ressortir dans un entretien au GIS. La facilitation, pour sortir de la liste grise du GAFI, constitue également un succès « parce que nous étions là avant le listing. » Il renchérit  : « On a aidé Maurice pendant tout le listing. Aujourd’hui, Maurice sort de la liste, et on est toujours là. On continue d’aider Maurice sur certains points très spécifique d’assistance technique. » La Facilité Globale anti-blanchiment et contre le financement du terrorisme est un projet de la Commission européenne qui a débuté en 2017 et qui continuera jusqu’en 2023. C’est un projet spécialisé en matière de lutte contre la criminalité financière. Le focus du projet est mondial et couvre tous les continents. Les experts travaillent avec le secteur public et le secteur privé. Ils couvrent toute la chaîne pénale, du service de renseignement à l’asset recovery. Maurice s’engage à poursuivre ses efforts dans la mise en place des mesures appropriées et maintenir sa réputation de juridiction financière transparente et crédible. Dans une déclaration au Government Information Service (GIS), le ministre des Services financiers et de la Bonne gouvernance, Mahen Seeruttun, explique qu’il est surtout question de protéger l’intégrité du secteur financier et s’assurer que les initiatives répondent aux normes du Groupe d’action financière (GAFI). Lors de l’ouverture de l’atelier ‘Compliance with International and EU requirements concerning the FATF recommendation 8’, le ministre a élaboré sur la sortie de Maurice de la liste grise du GAFI, en octobre 2021, tout en mettant l’emphase sur la rigueur qui a prévalu durant ces deux dernières années pour apporter les changements attendus. REGIONAL WORKSHOP ON FINANCIAL SECTOR Exchange of best practices, challenges, EU delisting, effectiveness of new systems… The Regional Workshop on Compliance with International and EU requirements concerning the Financial Action Task Force (FATF) Recommendation 8 was launched on Monday 22nd November 2021 by the Minister of Financial Services and Good Governance, Mahen Kumar Seeruttun, at Le Meridien Hotel, Pointe-aux-Piments. The Workshop, jointly organised by the EU anti-money laundering and countering the financing of terrorism (AML/CFT) Global Facility and the Ministry of Financial Services and Good Governance, was designed for non-profit organisations and representatives of Financial Intelligence Units and Law Enforcement Agencies. The objective of the event, that spanned over three days, was to allow the exchange of best practices and sharing on challenges faced by participants from different States to ensure compliance with legislation as wellas FATF recommendations. Minister Seeruttun promises further strengthening of the level of effectiveness of the systems Talking about the strong and strategic collaboration that Mauritius shares with the European Union (EU), Minister Seeruttun recalled that the EU AML/CFT Global Facility acceded promptly to the request for technical assistance when Mauritius was placed on the EU List of High-Risk Third Countries. « We were provided with high calibre international experts for bothonsite and offsite capacity building programmes that were instrumental in addressing the strategic deficiencies identified under Recommendation 8 and Immediate Outcome 10 », he said. « This enabled Mauritius to beupgraded on FATF Recommendation 8 from Non-Compliant to Largely Compliant ». This regional workshop, he stressed, is yet another testimony of the strong will of the Government to reinforce ongoing collaborative effort with the EU AML/CFT Global Facility in the fight against money laundering and terrorism financing. The Minister further informedthat as part of the post-International Country Risk Guide (ICRG) strategy, Government’s efforts are now geared towards sustaining the reforms and ensuring the effectiveness of the measures undertaken. He added that Mauritius committed to continue working with Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) to improve further its AML/CFT system. While recalling that the Government had intensified its efforts and deployed a series of remarkable measures to bring the jurisdiction in conformity with international norms, Minister Seeruttun asserted his determination to put in more resources, both human and financial, to further strengthen the level of effectiveness of the systems. HE Vincent Degert  : The EU is working towards removing Mauritius from the blacklist The European Union (EU) is strongly engaged to providing its technical assistance and expertise in the fight against Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT). The Ambassador and Head of EU Delegation, HE Vincent Degert, made these remarks at the regional workshop. « The delisting of Mauritius on the FATF grey list », he said, « is a recognition of the work achieved by the country during the last 18 months, which is a record since the country was to accomplish this in 24 months. The country has largely managed to deliver before the deadline. The EU is now working towards removing Mauritius from the blacklist. » Mr Degert also spoke of EU support to Mauritius in the delisting process and called for a zero tolerance to financial crimes. Speaking on the reforms brought forth, he indicated that Mauritius has put in place new regulators and institutions such as a new financial court. He further dwelt on the need to continuously work with all partners for better efficiency of the system so that there are no loopholes in the fight against AML/CFT. [Crédit photos et informations  : GIS Mauritius] 4
VENDREDI 26 NOVEMBRE 2021 BIZWEEK ÉDITION 370 A60A MAU1 THE AFRICAN GROWTH AND OPPORTUNITY ACT IO e Duty_fr acces to the United States market for klauritius'expoders murimus 103A y 0 9 If-Samna ter,. 1.051eielcer,mi. Walm. OIS ee Trade preferences available until 2025" ce AGOA has assisted in particular klauritius'apparel manulacturing sector experts 7/11111> ACTA PUBLICA GLOBAL POLICY WATCH How the Biden Administration Can Make AGOA More Effective The African Growth and Opportunity Act (AGOA) has served as the cornerstone of the U.S.-Africa commercial relationship for more than two decades but it is set to expire on September 30, 2025. While the legislation’s unilateral trade preferences have provided economic benefits for countries across sub-Saharan Africa, AGOA as a whole remains underutilized. To ensure continuity in U.S-African trade ties, the United States must grapple with the legislation’s potential reauthorization now, with a particular focus on how the utilization of AGOA might be improved Just a renewal of AGOA won’t be enough to achievethis ambitious vision, though. Instead, the Biden administration should double-down on its partnership with AGOA beneficiaries and ensure that each country makes greater use of the program, including through National AGOA Strategies, in a manner that promotes regional and continental value chains. This analysis includes Ethiopia, Guinea, and Mali, which are set to lose their AGOA benefits on January 1, 2022 because, as the Biden administration determined in a statement to Congress, they are no longer in compliance with the legislation’s eligibility requirements. AGOA has been successful, but remains underutilized In assessing the program’s future, it is important to acknowledge where AGOA has achieved success. When excluding exports of crude oil under AGOA, the data shows that the program has substantially improved the export competitiveness of certain African products, especially apparel. For instance, from 2010 to 2020, textile/apparel exports under AGOA grew by approximately 64 percent. Moreover, apparel exports from Lesotho, Ethiopia, Mauritius, Madagascar, and Kenya have not only led to the creation of tens of thousands of jobs but these countries have become reliable producers for the U.S. market and American consumers. Lesotho and Kenya in particular have enjoyed the highest AGOA utilization rates  : between 2010 and 2020, apparel products from Kenya accounted for 88 percent of the country’s total exports to the United States under AGOA ($3.6 billion in value) ; apparel products from Lesotho accounted for 99 percent of the same ($3.2 billion). The utilization rate is the percentage of U.S. imports under AGOA from a beneficiary country as a share of total U.S. imports from that country. Heavy manufacturing has also seen some success under AGOA. South Africa’s auto exports to the U.S. under AGOA have created several hundred thousand jobs, directly and indirectly, in South Africa and in the auto supply chain within neighboring countries. Overall, light and heavy manufactured imports under AGOA accounted for 87 percent of all imports under AGOA from 2010 to 2020. At the same time, not enough African countries have benefited from AGOA on a level that is sufficient to truly tip the scales when it comes to economic development, growth of commercial opportunities, and job creation. As Ambassador Tai noted during the recent AGOA Ministerial, this trend is due in part because utilization of the program remains low for many beneficiaries. In an effort to address this deficit, Congress called for—but did not require—participating countries to develop and publish national « utilization strategies » during the 2015 reauthorization of the legislation. Countries with national AGOA strategies have increased AGOA utilization LL AGOA p,.extde,- ; expartcrs Maurithes is one or 40 - Sub-Saharan African ▪ COuntries that currently enjoy duty-f ree export Status to the United States for 6,500 products through a cornbination of ACCA and CSP preferences. These strategies are prepared by governments in sub-Saharan Africa as part of their planning to enhance the use of AGOA. In developing these strategies, beneficiary countries determine how their comparative advantage can enhance a country’s own competitiveness, which willalso benefit regional trade. The idea behind such plans was that they would position beneficiary countries to take fuller advantage of their preferential access to the U.S. market. A review of trade data suggests that creating AGOA strategies is positively associated with increasing AGOA utilization rates. To date, only 18 out of the 39 beneficiary countries have developed a national utilization strategy for AGOA. These countries include  : Botswana, Eswatini, Ethiopia, Ghana, Kenya, Lesotho, Madagascar, Malawi, Mali, Mauritius, Mozambique, Namibia, Rwanda, Senegal, Sierra Leone, Tanzania, Togo, and Zambia. Out of the 16 countries reporting data since the publication of a national AGOA utilization strategy, 14 have seen an increase in non-crude exports under AGOA. These increases in exports range from 2 percent to more than 3,000 percent. In particular, Mali, Mozambique, Togo, and Zambia, who had very low utilization rates, experienced an increase in exports of over 90 percent following establishment of a utilization strategy. Below are relevant examples : Kenya published a utilization strategy in 2012. Kenya’s exports to the United States under AGOA subsequently doubled between 2012 to 2020. The largest source of exports during this period were apparel products. Ghana published a utilization strategy in 2016. Ghana’s non-oil exports, which include yuca plant root, apparel products, and travel goods rose by 91 percent from 2017 to 2020. Madagascar published a utilization strategy in 2015. Madagascar’s exports to the United States under AGOA subsequently saw a 390 percent increase from 2015 to 2020. Major exports during this period include apparel products, chocolate, and basket-weaving materials. Mali published a utilization strategy in June of 2016. Mali’s exports to the United States under AGOA increased by 397 percent from 2016 to 2018. Agricultural and manufactured goods, including buckwheat, travel goods, and musical instruments, madeup the largest portion of total exports during this period. Mozambique published a utilization strategy in May of 2018. Exports from Mozambique under AGOA saw an 813 percent increase from 2018 to 2020. Agricultural products, such as sugar, nuts, and tobacco, madeup the majority of exports over the period. Togo published a utilization strategy in August of 2017. Exports from Togo under AGOA saw a 91 percent increase between 2017 and 2020. Agricultural products, including wheat, legumes, and fruit juices, were the largest source of exports during the period. Zambia published a utilization strategy in March of 2016. Exports from Zambia under AGOA saw over a 3,000 percent increase by 2019. Semi-precious stones, pearls, and copper accounted for the largest portion of exports over the period. Unfortunately, less than half of AGOA beneficiaries have developed national AGOA strategies. With four years left under the existing legislation, there is still time for beneficiary countries to achievegreater results under AGOA. Moreover, a renewal of AGOA for another 10 years would provide even more time to make national strategies as beneficial as possible while further deepening U.S.-Africa commercial ties. [Source  : Covington & Burling LLP – Firmof lawyers and advisors – 19 November 2021] 5

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