Tax-News.Com Archive

Sponsored by: PEARSE TRUST
Independent advice on corporate and trust structures

ARCHIVE ROOT | TODAY'S NEWS | LOWTAX

Government Of Mauritius Responds To Third Trade Policy Review By WTO
by Amanda Banks, Tax-News.com, London

02 May 2008

The Government of Mauritius recently responded to the 3rd Trade Policy Review by the World Trade Organisation (WTO), which was published last week.

In a statment Ambassador A. P. Neewoor, Secretary for Foreign Affairs of the Ministry of Foreign Affairs, International Trade and Cooperation revealed that the major policy drive of Mauritius has been to establish conditions for economic stability, sustainable growth and further integration into the international trading system, in the face of domestic, regional and global economic developments.

For the past seven years, Mauritius has continued to implement policies aimed at creating a more efficient, vibrant and outward looking economy, he recalled.

With regard to the economic transformation of Mauritius, Ambassador Neewoor stated that the strategy is based on preferential trade with a view to the creation of growth and employment through labour-intensive, export-oriented manufacturing, while maintaining an elaborate social welfare system.

He also made reference to the new and daunting challenges which Mauritius, as a Small Island Developing State and Net Food Importing Developing Country, is facing:

“Like many countries, Mauritius is now facing a changing global trade environment, which is set against a backdrop of soaring oil prices, continuing human and supply-side capacity constraints, and public debt as well as a relatively high unemployment rate," Neewoor stated.

Ambassador Neewoor added that in spite of the challenges confronting Mauritius in this aspect, the long-term prospects for the country look good.

The Trade Policy Review is a mandatory exercise to encourage members of the World Trade Organisation to be transparent in the formulation and implementation of trade policies, and to ensure that they are in compliance with their obligations to the WTO.

The Trade Policy Review was based on the following two reports: a country report prepared by the Government of Mauritius, and a report on Mauritius prepared by the WTO Secretariat.

.

 


IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.