Mauritius to launch STMS for textile exports this month

07 Jan '17

1 min read

The Speed-to-Market Scheme (STMS) that aims at developing the ‘Speed-to-Market’ textile and apparel export segment of Mauritius in the wake of Brexit will be launched this month after consultations with various stakeholders. It will allow Mauritian exporters to become more competitive vis-à-vis other countries exporting via air freight to Europe.

Another one of the scheme’s objectives is to enhance the competitiveness of Mauritian exports in the European market, especially in terms of speed of delivery. At the same time, it will provide support to the textile and apparel enterprises facing difficulties in the wake of Brexit, according to an official statement by the Mauritian government.

The scheme will only be applicable to the textile and apparel manufacturing companies. It will provide a 40 per cent refund on air freight cost to exporters to Europe including the UK. It will be time-bound for 2 years and will be operated and managed by Enterprise Mauritius.

The refund will be applicable for exports as from April 1, 2017.

The STMS air freight rebate scheme for textile and apparel was announced in the Budget speech 2016/17 by the minister of finance and economic development of Mauritius. (KD)

Fibre2Fashion News Desk – India

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