Mumbai, Sep 3 (IANS): The National Stock Exchange of India (NSE) has signed a memorandum of understanding (MoU) with the Stock Exchange of Mauritius (SEM) for co-operation between the two exchanges, an official statement said here on Thursday.

The statement said the objectives of the tie-up was to foster a deeper and more strategic relationship between the two institutions, facilitating the development of channels for knowledge sharing and developing mutual synergies for the growth and development of SEM and NSE.

"The areas of co-operation under the MoU will encompass education, training and knowledge transfer in securities markets, product development and indices creation as well as capacity development in the field of surveillance and investigation," it added.

"Mauritius is an important trade partner with India. We are happy to have entered into an understanding with SEM for fostering the growth of the Mauritian financial markets.

"Such initiatives can ensure economic benefits to the nation and its people in the long run," managing director and chief executive of the NSE, Chitra Ramkrishna said.

"This collaborative relationship between the SEM and the NSE is expected in the medium term to create new opportunities for the development and listing of new products on the SEM's platform and further enhance the attractiveness of Mauritius and of the SEM as a hub for investing into Africa," said the chief executive of the SEM, Sunil Benimadhu said.

"The NSE and SEM partnership will also focus on capacity building and training of SEM employees and of securities markets professionals in Mauritius," he added.