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Thursday, 06 August 2015

Seychelles-EU: €760,000 Trade Liberalisation Agreement

Representatives of the EU met with officials from the Seychelles to discuss economic, social and political issues, especially concerning good governance, democracy, the rule of law and human rights. During the visit, the EU approved an envelope of €760,000, or around 11 million Seychelles rupees, to help = the public and private sectors in the small island developing state (SIDS) meet the EU's requirements to effectively benefit from trade liberalisation and free market access. Seychelles comprises of 115-islands based in the Indian Ocean archipelago and has a population of 90,000 inhabitants. Its economy relies almost exclusively on tourism and the export of canned tuna. The EU is the Seychelles' largest trading partner - accounting for 66 % of its exports and 33 % of its imports - and its largest source of inbound tourists. Currently, trade in goods between the EU and the Seychelles is governed by the interim Economic Partnership Agreement (iEPA) signed in 2009, which provisionally came into effect in 2012.  

Source : allafrica.com