India Rejects Possibility Of FTA With Mauritius
It emerged last week that the Indian authorities have rejected the possibility
of establishing a free trade agreement (FTA) with Mauritius, after the Commerce
Department expressed concern that such an arrangement could result in the jurisdiction
becoming a re-export centre for third countries seeking to take advantage of
the agreement. This announcement is likely to have come as something of a disappointment for
the Mauritian government, which had hoped that an FTA would be the next logical
step following the recent conclusion of technical-level talks on the Comprehensive
Economic Cooperation and Partnership Agreement (CECPA) between the two countries. However, speaking to the regional media, Indian government sources revealed
that while there was no prospect of reviving the possibility of FTA negotiations,
all was not lost. "The proposed CECPA is on track and we may offer a preferential trade
agreement (PTA) instead of the FTA sought by Mauritius," one Indian newspaper
was told by an unnamed source close to the proceedings. A comprehensive report describing the regulatory regime in most key offshore jurisdictions, with an emphasis on the survival of banking secrecy is available in the Tax News Reports Shop at http://www.tax-news.com/reportshop/
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