President Michel on Mauritius visit-Boost for investment, commercial links |15 March 2005

President James A. Michel said on Monday that these were highlighted in the talks he had with Mauritian premier Paul Berenger during his visit to Mauritius last week.

President Michel returned home on Monday morning after spending four days in Mauritius at the invitation of Prime Minister Berenger to be the guest of honour at the 37th Mauritian independence day anniversary celebrations on Saturday March 12.

Other than Prime Minister Berenger, President Michel met with other members of the Mauritian Government including President Anerood Jugnauth, other officials, representatives of foreign governments and members of international organisations based in Mauritius.

These included the United States Ambassador to Seychelles John Price and the United Nations Development  Programme (UNDP) representative Aase Fmedler.

President Michel said both Prime Minister Berenger and himself are keen and determined to foster investment and commerce between the two countries.

He said that as a boost for that, the two countries signed a double taxation avoidance agreement in Port Louis which would promote investment between them as well as allow those from other countries to be channelled through them.

President Michel said that in today's globalised world where more investments are being made, companies tend to invest in or through countries where they pay less tax or do not pay tax twice.
"This agreement, I believe, will further encourage foreign investment in our countries," he said.

He said that now that the agreement had been signed, the two countries would be working on the mechanism to protect these investments in line with the Seychelles Investment Code which is being put in place.

President Michel said that he and Prime Minister Berenger feel that with this new era of cooperation the private sectors of both countries should start meeting more often to exchange ideas and look at the possibility of establishing more commercial links and decide on new areas of cooperation.

Mauritians with the necessary capital would be encouraged to do business in Seychelles.

During President Michel's visit the two countries also signed a fishing agreement which the Seychellois head of state said would allow boats flying the Seychelles flag and having the necessary licence to fish in Mauritian waters and vice-versa.

"The agreement will also allow us to exchange know-how on fish processing, he said.

Now that Mauritius has enacted its Maritime Zones Act governing that country's maritime delimitation, President Michel said this would lead to further negotiations on the Saya de Malha bank with a view of joint exploitation between the two countries.

With Prime Minister Berenger, President Michel said he also spoke about the fostering of the unity existing between the two peoples and reviewed regional issues within the context of the Indian Ocean Commission (COI) and threats facing small islands states.

"As both our countries are small islands states, we believe we should continue working together to have our specificities and vulnerabilities recognised by the international community," he said.

Cooperation between the two countries and the need for even closer ties also highlighted discussions President Michel had with President Jugnauth.

President Michel described his meeting with United States Ambassador Price as cordial saying that the envoy reaffirmed his government's engagement to support  Seychelles in negotiations taking place with multilateral institutions such as the World Bank and International Monetary Fund (IMF).

The US envoy, he said, also told him that the US would be providing an additional US $100,000 through the UNDP to the country's post-tsunami relief effort.

The UNDP representative Mrs Fmedler, President Michel said, also promised to source for funds to help the country in its post-tsunami reconstruction programme.

While in Mauritius, President Michel also hosted a reception for Seychellois students studying there. He said they were happy with their studies and keen to complete them so as to return and contribute their share to the country's development.

"They are in very high spirits," the President said.
He said that Prime Minister Berenger has promised to look into the possibility of reserving more places for Seychellois students in Mauritian universities.