The recent visit of the Regional Economic Attaché at the French Embassy to Panama Mr. Julien Defrance to the Territory was described by Premier Dr. the Hon. D. Orlando Smith as interesting.
In response to questions from the media regarding Mr. Defrance’s visit, Hon. Smith said: “It was interesting that he came. He came to visit and see how we were doing and in the financial services industry particularly as it relates to our cooperation with France; and he did observe that we have been responding to the enquiries from France in a timely way.”
Hon. Smith disclosed that the Diplomat was quite satisfied with the performance and the way the Territory responded to enquiries related to tax and information exchange agreements.
Last week during his sit-down with Hon. Smith it was reported that Mr. Defrance discussed bilateral exchanges of tax information.
While in the BVI the Diplomat also met with a number of Government officials, the Financial Services Commission and private sector practitioners to gain a better understanding of the legal framework and how it functions.
Most of the discussions with Dr. Defrance were centred on recent developments in legislation, and how they might impact the BVI’s business model and the likely impact of future international regulations and reforms.