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India and Mauritius are jointly working to reach a mutually acceptable and beneficial outcome on the Comprehensive Double Taxation Avoidance Agreement (DTAA) which will be a “win-win” situation for both, President Pranab Mukherjee has said.
Mukherjee, who is here on a three-day visit, said the Double Taxation Avoidance Convention (DTAC) cannot be seen in isolation, separate from the many strands that weave the tapestry of the India-Mauritius relationship and efforts, and it should remain focused on realisation of the full potential of bilateral ties.
“The Joint Working Group (JWG) on the DTAC has met twice in the last one year which has provided an opportunity for both sides to discuss the means forward to a mutually acceptable and beneficial outcome — a win-win situation for both. India looks forward to holding the next meeting of the JWG in New Delhi,” he said in an interview to Mauritius newspaper Le Matinal .
He was replying to a question on the criticism of DTAA and up to what extent such criticism was justified and any possible changes that needed to be brought to the DTAA.
Asked about the progress on the proposed Comprehensive Economic Cooperation and Partnership Agreement (CECPA) between India and Mauritius, he said the two countries are engaged in negotiations for a successful CECPA to evolve ways and means to further stimulate trade and investment between them.
Commenting on the economic relations between India and Mauritius, Mukherjee said the bilateral cooperation in the economic and commercial areas has grown but needs to be further reinvigorated.
“India has been the largest exporter of goods and services to Mauritius since 2007. As far as 2011-2012 is concerned, our official figures indicate that India exported goods worth $1.4 billion to Mauritius and imported goods worth $39.13 million from Mauritius.
“These figures mean that India has now become Mauritius’ largest trading partner. Our trade figures also suggest the need for our two countries to expand and diversify our trade basket,” he said.
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