Mauritius Signals Compliance With International Financial Standards
by Lorys Charalambous, for LawAndTax-News.com, Cyprus
19 November 2004
Speaking during an official visit to New Delhi on Wednesday, Mauritius's Minister
of Foreign Affairs, International Trade and Regional Cooperation, Jayen Cuttaree
stressed that despite vulnerabilities with regard to money laundering and the
facilitation of tax evasion by overseas firms in the past, the jurisdiction
has now been brought into compliance with international standards in these areas.
"We are now fully compatible with all the international guidelines at
the level of OECD to make it a clean offshore," he told Asia News International,
continuing: "We want to develop ourselves into a financial centre so it
is in our interest to see that our reputation stays good. We ourselves, more
than anybody else, realise that we need to have a clean centre, which we have
today."
The Foreign Affairs Minister went on to suggest that Mauritius provides the
ideal gateway to Southern Africa for Indian investors under the auspices of
the Comprehensive Economic Cooperation and Partnership Agreement (CECPA) recently
signed by the Indian and Mauritian authorities.
"It is a big market, including South Africa and other southern African
states. By virtue of the preferential agreement (with the African Development
Community), we have a trade protocol, moving to a free trade area. Products
from Mauritius can have a quota-free access to these markets," he told
ANI.
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