Sao Tomé & Principe located in the Golf of Guinea is a former Portuguese colony, well known for its petroleum exploration which started during the late 1980s and which has since developed and where the potential exists, for further development of the country’s petroleum industry.
On 6 May 2016, Mauritius received the visit of the Prime Minister and Chief of Government of Sao Tomé & Principe, Mr Patrice Emery Trovoada where an Investment Promotion and Protection Agreement (IPA) between the 2 countries was the highlight of discussions.
Mr Patrice Emery Trovoada, expressed interest to collaborate with Mauritius in various economic domains such as tourism, financial services, trade and commerce as well as on other issues.
The Prime Minister and Chief of Government of Sao Tomé & Principe encouraged Mauritian investors to invest in Sao Tomé & Principe and vice-versa through the signing of IPA which he said will enhance trade and investments in both countries. It was further reported that the newly signed IPA will be supported and concretised through legal framework and procedures later on during 2016.
Both countries expect to achieve creation of wealth and employment through the joint collaboration of the public and private sector.