Mauritian Minister of Financial Services and Economic Planning, Jyoti Jeetun, is in India and had an interview with TOI, talking on several issues from trade to the tax treaty between the two countries.
On being asked about India and Mauritius signing CEPA during global tensions, Jeetun said trade of goods is an important part of the CEPA, while trade in services is still being fine tuned.
"Mauritius is a small country, a small island, but with huge potential in terms of our connections with Africa. We see Mauritius to be a bridge between India and Africa and it gives wider access to the continent of Africa," she said, adding that they hope to work together and tap into opportunities, given India's growing economy.
About the tax treaty, Jeetun said the DTAA (double taxation avoidance agreement) was amended and there is a protocol in place, which has not been ratified yet. However, she remained confident that it will be closed in a short time. "I am very hopeful that we will conclude small fine tunings with the Indian govt in the very short period."
When asked on trade settlements in local currencies, she said it will be a game changer as dealing in US dollar is a massive challenge for a small economy Mauritius. "I'll give you one example. Our largest import is fuel. Just imagine if tomorrow we import that from India and we pay in local currency. The impact that it would have on our currency and the weight of our currency because we are so dollar dependent today," she added.
(With TOI inputs)
On being asked about India and Mauritius signing CEPA during global tensions, Jeetun said trade of goods is an important part of the CEPA, while trade in services is still being fine tuned.
"Mauritius is a small country, a small island, but with huge potential in terms of our connections with Africa. We see Mauritius to be a bridge between India and Africa and it gives wider access to the continent of Africa," she said, adding that they hope to work together and tap into opportunities, given India's growing economy.
About the tax treaty, Jeetun said the DTAA (double taxation avoidance agreement) was amended and there is a protocol in place, which has not been ratified yet. However, she remained confident that it will be closed in a short time. "I am very hopeful that we will conclude small fine tunings with the Indian govt in the very short period."
When asked on trade settlements in local currencies, she said it will be a game changer as dealing in US dollar is a massive challenge for a small economy Mauritius. "I'll give you one example. Our largest import is fuel. Just imagine if tomorrow we import that from India and we pay in local currency. The impact that it would have on our currency and the weight of our currency because we are so dollar dependent today," she added.
(With TOI inputs)
