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| Jersey Senator Touring India To Establish Links |
by Robert Lee, Tax-News.com, London
Friday, November 20, 2009
Jersey’s Treasury Minister, Senator Philip Ozouf, is on a week-long trip
to India as part of the ongoing work to build political and commercial links
with Asia’s strongest emerging markets.
Ozouf, who is leading a 20-strong Jersey delegation, started with a briefing
for the Deputy High Commission in Mumbai. The schedule for the five-day trip also
includes keynote addresses to invited audiences in Mumbai and Delhi, meetings
with leading Indian organizations, visits to companies who have established
financial ties with Jersey, and interviews with Indian national media.
Speaking from Mumbai, Ozouf stressed the importance of this visit for Jersey’s
future prosperity. "India is one of the great nations of the world with
a dynamic population of more than 1.1 billion people and significant economic
growth potential in the future," he said. "We have already started to build relationships so that Jersey is well
placed to take advantage of commercial opportunities in years to come. This
is a gradual process and we still have work to do to explain exactly what the
island can offer. The stability of our government system is an important factor
that Asian governments will take into consideration."
Ozouf last led a trade delegation to India in February 2008 and was due to
visit Infrasoft, one of the firms he made contact with last year.
Jersey already has strong trade links with a number of Indian companies that
are investing in the Island. Jersey companies are providing financial services
to the growing number of Indian companies seeking to expand into Europe.
Ozouf concluded: "There is great potential for Jersey to develop its links
with emerging markets, especially following the recent positive reports from
the IMF and the UK Treasury. Jersey is well placed to increase the flow of good
quality business from these newer markets, and this will reduce dependence on
our traditional markets of Europe and the US."
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