Mauritius and Maldives sign MoU for a Joint Economic Commission
Photo of Xavier-Luc Duval, Vice Prime Minister, Minister of Finance and Economic Development
The Government of Mauritius signed a Memorandum of Understanding (MoU) recently in Port Louis for the setting up of a Mauritius-Maldives Joint Economic Commission (JEC) which will open new avenues of cooperation between the two countries. The MoU was signed by the Vice-Prime Minister, Minister of Finance and Economic Development, Mr Xavier-Luc Duval and the Minister of Finance and Treasury of Maldives, Mr Abdullah Jihad in the presence of the Minister of Foreign Affairs, Regional Integration and International Trade, Dr Arvin Boolell.
The JEC will reinforce the common vision of both countries for the region by developing new spheres of cooperation in terms of capacity building, human resources and also boost investment.
In his address, the Vice-Prime Minister, Minister of Finance and Economic Development, Mr Xavier-Luc Duval, emphasised the crucial role of the JEC, which according to him, will give further spur to cross-border cooperation between Mauritius and Maldives. According to VPM Duval owing to the fact that both countries share several similarities, there is a need to take concerted actions, effective strategies and cooperation at regional level to better face international competition and challenges.
For his part, the Minister of Foreign Affairs, Regional Integration and International Trade, Dr Arvin Boolell, said that as islands which share same commonalities, both Mauritius and Maldives should encourage bilateral cooperation by sharing their expertise and learn from each other so as to reap mutual benefits. Dr Boolell added that as small island states, both countries should work together to achieve common goals and also to become role models in the region.
As for the Minister of Finance and Treasury of Maldives, Mr Abdullah Jihad, he reiterated the interest of Maldives to collaborate and work together with Mauritius in different sectors of the economy. Minister Abdullah Jihad also underscored the importance of the JEC which will set the path towards greater collaboration between the two nations and strengthen the relationship between the two countries.
The Joint Economic Commission will help both countries to benefit from mutual cooperation in the following fields: tourism, offshore financial services, education, medical, coastal management, protection of reefs, production of sea cucumber; and tax administration.
Image Source: www.business.mega.mu
Source: Government of Mauritius