Union Cabinet approved to sign inter-governmental agreement between India and Mauritius
Posted on:13 May 2016 16:50:41
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13 May 2016 Current Affairs: The Union Cabinet chaired by Prime Minister Narendra Modi on 12 May 2016 approved to sign the inter-governmental agreement between India and Mauritius. The agreement is on cooperation in cooperatives and related fields.
Features of the agreement : The agreement between the two countries will be for duration of five years after which it will be automatically extended for another five years.It provides for promoting cooperation through short and medium term programmes within the framework of the joint activities mentioned in it.A work plan will be drawn up by mutual agreement between the two parties to give effect to the objectives of the agreement.India and Mauritius also signed a protocol on taxation that amend the convention for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains on 10 May 2016.
Mauritius Government showed keen interest to develop Institutional Mechanism between Cooperative Development Fund (CDF) set up by it and National Cooperative Union of India (NCUI) so as to benefit from NCUI's experience in Cooperative Development.A joint meeting was held in September 2012 in Department of Agriculture, Cooperation & Farmers Welfare followed by Ministerial level meeting after a year in September, 2013.It was discussed for the possibility of signing an MoU between the two countries for exchange of legislation governing cooperatives, exchange of information and technicalities pertaining to the cooperative sector, establishment of institutional linkages and deputation of experts under ITEC programme.A delegation of two senior officials from the Mauritius Government visited cooperative organisations of India to explore the possibilities of bilateral cooperation in the field of cooperatives.
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