Mauritius And Botswana Sign Investment Agreement

by Lorys Charalambous, for LawAndTax-News.com, Cyprus

25 August 2005

Mauritius and Botswana last week signed a Promotion and Reciprocal Protection of Investment Agreement (IPPA) which the countries hope will act as a spur to bilateral economic activity.

The Mauritian Minister of Foreign Affairs, International Commerce and Co-operation, Madan Dulloo, and his Botswanian equivalent Neo Moroka, signed the Agreement in Gaborone, the capital of Botswana, on the margins of a Southern African Development Community (SADC) summit.

'The signature of this accord adds an important dimension to our bilateral economic relations', said Mr Dulloo. "This IPPA will give a new impetus to investors in our two countries who wish to do business.' The Minister recalled that Mauritius had signed such agreements with many countries, including 14 African ones, and that a double tax avoidance treaty had been signed with Botswana in 1995.

'Our two countries have a long democratic history, and our economies are among the most stable in Africa, as well as being relatively free of corruption and supportive of human rights,' added the Minister.

For his part, Neo Moroka noted that the first thing investors look for in another country is protection of their capital. 'This treaty gives a guarantee against government actions which would be to the disbenefit of investors,' he said. 'The signature of this treaty with Mauritius amount to a promise on our part to maintain a business-friendly environment.'

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