MONDAY 17.04.06

Multi-annual adaptation strategy 2006-2015, the sugar industry reform plan, is nearly finalised. Activities will be reorganised in four clusters centred on Savannah, Médine, Fuel and Belle Vue. Power generation, ethanol production and special sugars will be given attention.

Naiade resorts invests Rs200 million in the construction of 12 luxury villas. The first guests are expected for December 2006. 

Source: www.gov.mu

Government has already shown its commitment to combating corruption and other financial crimes by bringing numerous amendments to the Prevention of Corruption Act in September 2005, the Minister of Finance, M. R. Sithanen, stated at the opening on April 18, of the third annual seminar of the Financial Intelligence Unit (FIU). The seminar focused on the theme 'Working Together to Fight Money Laundering and Terrorist Financing'.

Minister Sithanen underlined that Mauritius had always shown its full commitment in conforming to international standards and in cooperating with international bodies in the fight against money laundering and the financing of terrorism (AML/CFT).

Mauritius has been one among the early countries to be assessed under the Financial Sector Assessment Programmes (FSAP). The assessment of standards and codes found a high level of compliance with internationally accepted norms and practices. Mauritius had been chosen by the Commonwealth Secretariat to be in the first batch of three countries for specific studies on the cost-benefit analysis of enhanced AML/CFT regulations.

Source: www.gov.mu

Time has come for the European Union to enter into a constructive dialogue with the Eastern and Southern African (ESA) countries with a view to bridging the differences that could potentially stall the 10th EDF process, said this morning the Minister of Foreign Affairs, International Trade and Co-operation.

In a speech at the opening of the 8th Inter-Regional Coordinating Committee, Mr Madan Dulloo, who is also Chairman of the Council of Ministers of the Indian Ocean Commission, pointed out that regional integration, and trade and economic partnership agreements are a way to support the integration process of the ESA countries in the global economy.

“The ESA region is quite clear that the Economic Partnership Agreements (EPA) are such that there is need for additional resources” the minister said, adding that ESA countries were actively involved in consultations to ensure the coherence between the national and regional programming.

In a bid to attain the objectives of poverty reduction and sustained economic and social development, Minister Dulloo appealed to the Regional Economic Communities and organizations to stand united in face of the emerging challenges.

“Our cooperation under the 9th EDF has grown to be a solid one, with the aid delivery instruments in place for more ownership by the region of its integration process. We have thus paved the way for the 10th EDF to step in - but certainly not to get us to reinvent ourselves again”, said the minister in his concluding remarks.

Source: www.gov.mu

E-commerce as a vehicle for expanding trade and identifying new markets

Information and Communication Technology is playing a predominant role in the national strategy to gear Mauritius towards a knowledge-based economy. This statement was made by the Minister of Foreign Affairs, International Trade and Cooperation, Mr Madan Dulloo at the closing ceremony of a training programme on the Legal aspects of E-commerce, organized by UNCTAD (United Nations Conference on Trade and Development) and the University of Mauritius.

Minister Dulloo pointed out that Mauritius has reached a critical juncture of its development with the triple shocks of drastic fall in sugar prices, the dismantling of the Multi Fibre agreement and the rise in price of petroleum products. Against this backdrop, he said Mauritius is committed to tap trade avenues available in the ICT sector.

He invited the SMEs in Mauritius to avail of the opportunity emerging from e-trade and new technologies to bolster trade and gear their operations towards export-oriented markets. ICT could also provide a basis for linking Mauritius to other regional and international markets, the minister said.

Source: www.gov.mu