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Mauritius Signs Investment Agreements With Belgium And Luxembourg
by Lorys Charalambous, Tax-News.com, Cyprus

16 December 2005

The government of Mauritius has signed an agreement on the Reciprocal Promotion and Protection of Investments (IPPA) with the Belgium-Luxembourg Economic Union, which is aimed at strengthening bilateral and economic ties between the countries, and facilitating investment and mutual trade.

The agreement was signed in Belgium by the Mauritian Minister of Foreign Affairs, International Trade and Cooperation, Madun Dulloo, the Minister of Foreign Affairs of the Kingdom of Belgium, Karel De Gucht, and the Ambassador of the Grand Duchy of Luxembourg in Belgium , Alphonse Berns.

Other issues of cooperation were discussed, including development aid to Mauritius through an economic resilience index, investment in sectors like development of bio-fuels, and assistance in the training and specialization of medical practitioners.

Following the signature ceremony held at the Belgian Ministry of Foreign Affairs, the head of the Mauritian delegation, Minister Dulloo made a statement in which he emphasized the necessity for such an agreement especially with the current reform of the EU Sugar Regime and the serious difficulties facing the Mauritian tourism and textile industry.

Mr. Dulloo also pressed Belgium and Luxembourg to provide more direct private investment from Luxembourg and Belgium and presented the increased opportunities in ICT, fisheries and financial services.

The Belgian Foreign Affairs Minister, Mr. De Gucht, expressed confidence that the Belgian authorities would consider including the issues discussed in bilateral cooperation with Mauritius, while Ambassador Berns highlighted the importance of the IPPA for investors and the private sector.

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