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Monday, 23 November 2015

Seychelles woo African businesses to become hub for African trade

In spite of being small in size compared to other African countries, Seychelles an archipelago in the western Indian Ocean is aiming to become the hub for trade between African countries. The island nation wants to emulate countries like Singapore which is today the centre in Asia for trading in commodities globally. After taking steps to promote the blue economy concept on the international scene, Seychelles is now looking at bringing African nations together through trade. Speaking to the press at a meeting dubbed the ‘African Prosperity conference’ that is being hosted by the island nation since Tuesday, the Chairman of the Seychelles Chamber of Commerce and Industry, (SCCI) Marco Francis called for greater partnership between African nations. (...) Francis noted that today trade between African countries stands at only 16 percent while the majority of the continent’s imports are from European and Asian countries. (...) In the case of the Indian Ocean archipelago for example, the biggest trading partner is France, with trade figures amounting to just under a billion Seychelles rupees ($76 million) of imports and SCR 1.6 billion ($127 million) of exports in 2012.

Source: Trade Mark East Africa