Mauritius with High Ambitions to Become the First African Member of the OECD

In this article, Paul Baker, alongside Pablo Quiles, and Smita Bheenick, focus on Mauritius' ambitious goal of becoming the first fully-fledged African member of the Organisation for Economic Co-operation and Development (OECD). Originally written for Mondaq, the article highlights the island nation's commitment to strengthening its integration with the OECD and promoting the adoption of OECD standards and values in its region.

Mauritius aims to become the first fully-fledged African member of the Organisation for Economic Co-operation and Development (OECD). As a current member of the OECD Development Centre, the country seeks to strengthen its integration and adopt OECD standards. OECD membership offers access to expertise, constant regulatory monitoring, and increased attractiveness for foreign direct investment (FDI). However, Mauritius must undergo a rigorous review overseen by the OECD Council to ensure alignment with relevant policies.

The accession process focuses on key areas such as structural reforms, open trade and investment, governance, environment and climate, and digitalization. The shift towards renewable energy is a pressing consideration, as global commitments target net-zero emissions by 2050. While African fossil fuels have gained interest, the world's increasing focus on renewables poses challenges for fossil fuel investments.

Mauritius must strike a balance between immediate energy needs and long-term sustainability. As an island nation, access to sustainable and affordable energy is crucial for inclusive growth and development. The country's open economy benefits from OECD membership, but it necessitates comprehensive reforms in national legislation to align with OECD standards.

The timeline for Mauritius' accession depends on its ability to respond to OECD recommendations. Once technical reviews are complete, Mauritius will submit a final statement committing to assume all OECD member obligations. The Council will then decide whether to extend an invitation for accession, shaping the nation's global standing and financial centre's reputation while navigating the transition to renewable energy and sustainable growth.

Read the full article for additional insights.