WT/TPR/M/433  
8 March 2023 
(23-1652) Page: 1/38 
Trade Policy Review Body  
5 and 7 December 2022   
 
  
TRADE POLICY REVIEW  
SEYCHELLES  
MINUTES OF THE MEETING  
Chairperson: H.E. Mr Ángel Villalobos Rodríguez  
CONTENTS  
 
1  INTRODUCTORY REMARKS BY THE CHAIRPERSON  ................................ .......................  2 
2  OPENING STATEMENT BY THE REPRESENTATIVE OF SEYCHELLES  ...............................  4 
3  STATEMENT BY THE DISCUSSANT  ................................ ................................ ................  9 
4  STATEMENTS BY MEMBERS  ................................ ................................ ........................  11 
5  REPLIES BY THE REPRESENTATIVE OF SEYCHELLES  AND ADDITIONAL COMMENTS  ... 32 
6  CONCLUDING REMARKS BY THE CHAIRPERSON  ................................ .........................  37 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies provided 
by Seychelles  are reproduced in document WT/TPR/M /433/Add.1  and will be available online at 
http://www.wto.org/english/tratop_e/tpr_e/tp_rep_e.htm.  WT/TPR/M/433 • Seychelles  
 
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  1  INTRODUCT ORY REMARKS BY THE CHAIRPERSON  
1.1.  The first Trade Policy Review of Seychelles  was held on 5 and 7  December  2022. The 
Chairperson, H.E. Mr Ángel Villalobos Rodríguez  (Mexico) welcomed the delegation of Seychelles , 
headed by H.E. Mr Naadir  Hassan , Minister of Finance, National Planning and Trade ; the rest of the 
delegation; and the discussant, H.E. Dr José R. Sánchez -Fung (Dominican  Republic).  
1.2.  The Chairperson was pleased that, in addition to physical presence, the meeting also benefited 
from the Int erprefy online connection, allowing for a wider participation of the Membership.  
1.3.  The Chairperson recalled the purpose of TPRs and the main elements of procedures for the 
meeting. The Report by Seychelles  is contained in document WT/TPR/G/ 433, and that of t he WTO 
Secretariat in document WT/TPR/S/ 433. 
1.4.  Questions by the following delegations were submitted in writing before the deadline:  
Singapore, China, Canada, United  States, and European  Union.  The following delegations submitted 
written questions after the deadline: Japan.  
1.5.  The Chairperson started  by recalling some elements of Seychelles' accession to the WTO 
in 2015, given that this was Seychelles first TPR, and developments since then, as well as by 
identifying some key issues arising from the advance writt en questions submitted by Members for 
this TPR.  
1.6.  Since Seychelles accession to the WTO, its economy grew at an average annual rate of 2.4%, 
despite having contracted by 7.7% in 2020 due to the pandemic that significantly disrupted all 
sectors. For 2022, th e Government of Seychelles estimate d real GDP growth at 10.8% pushed by 
the swift recovery of tourism and fisheries, the two main pillars of its economy.  
1.7.  As one of the world's biodiversity hotspots, Seychelles is particularly vulnerable to the risks 
posed  by climate change. To deal with these challenges, Seychelles launched the National Climate 
Change Policy in 2020. Seychelles is also implementing its Blue Economy Strategic Framework and 
Roadmap 2018 -2030 with the aim of making maximum use of its exclusiv e economic zone in the 
most sustainable manner possible. The Chairperson was sure Members w ould be interested to know 
more about these strategies implemented by Seychelles.  
1.8.  Trade is very important for Seychelles' economy, with the combined value of exports  and 
imports exceeding 100% of GDP. Not only does it depend heavily on tourism, but it imports over 
90% of its total primary and secondary production inputs. Against this background, it was not 
surprising that in its Government Report, Seychelles acknowled ged the importance of the multilateral 
trading system and its contribution towards the advancement of free and fair trade, whilst aiding in 
the development of economies through diversification and job creation.  
1.9.  Seychelles grants at least MFN treatment to all its trading partners. It has four regional trade 
agreements in operation, including one with the European  Union that is in force since 2012. During 
the review period, Seychelles had concluded and implemented the Economic Partnership Agreement 
with the United  Kingdom and was actively engaged in various trade negotiations with other African 
economies.  
1.10.  With regard to trade policy, the tariff was Seychelles' main trade policy instrument, with an 
MFN average applied tariff of 2.7%, one of the lowest among WTO Members. Upon its WTO 
accession, Seychelles bound ed all of its tariff lines using only ad valorem  duties. The average bound 
rate was 9.9%; th ere were 29 tariff lines where applied rates were higher than bound rates.  
1.11.  Seychelles ha d made steady progress in implementing its WTO accession commitments. For 
example, in 2016, Seychelles accepted the Trade Facilitation Agreement and the Protocol Amendi ng 
the TRIPS  Agreement . During the review period, Seychelles introduced some trade -related 
legislative changes, notably by amending the legal and institutional framework of its competition 
policy through the adoption of the FairTrading Act  2022. On the oth er hand, Seychelles does not yet 
have any legal and institutional frameworks for the application of anti -dumping, countervailing, and 
safeguard measures. Seychelles' SPS and TBT regimes have not been subject to significant changes 
since its WTO accession, except for the introduction of labelling requirements for food products WT/TPR/M/433 • S eychelles  
 
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  in 2019. Seychelles' government procurement system remain ed basically the same since its WTO 
accession. Similarly, its IPR regime ha d not been modified, except for some institutional c hanges to 
improve efficiency and facilitate IP rights registration.  
1.12.  Seychelles is open to foreign investment, and during the review period it took steps towards 
enhancing its foreign investment regime. Indeed, instead of a negative list, activities open to  foreign 
investment were now identified using a positive listing approach. FDI is generally permitted without 
restrictions, except for certain activities, which were either reserved for Seychellois or subject to 
foreign equity limits or a needs assessment.  These activities involve mainly tourism and 
transportation services, as well as certain business and recreational services.  
1.13.  The Chairperson drew Members  attention to the following areas, among others, where 
Members were interested in having more clarity, such as: implementation of a single window; sugar 
tax; import prohibitions; international trade zones; participation of the private sector in the 
development of standards; timeline for accession to GPA; competition policy; and intellectual 
property rights.  There was also significant interest in Seychelles' environmental and digital 
objectives, blue economy related -policies, energy diversification strategy, as well as the main 
challenges it is facing in tourism, fishing, and services sectors.  
1.14.  In total, the R epublic of Seychelles received 78  advance written questions from 6  delegations, 
out of which 76  were sent within the established deadline. Prior to th e meeting, Seychelles provided 
written replies to all questions submitted within the deadline. The Chairpe rson looked forward to 
hearing Seychelles' updates on these issues during the two -day meeting.  
1.15.  The meeting w as a good opportunity for Members to discuss in greater detail issues of interest 
to them and of systemic importance to the multilateral trading sys tem.  
1.16.  The Chairperson closed his introductory remarks by wishing Seychelles a very successful first 
Trade Policy Review.  
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  2  OPENING STATEMENT BY THE REPRESENTATIVE OF SEYCHELLES ( H.E. MR NAADIR 
HASSAN ) 
2.1.  It is a great honour and privilege for me to be here today as Seychelles honours its obligation 
to undergo its first  Trade Policy Review . At the outset, please allow me to express my thanks to 
Mr Alfaro, Director of the WTO Trade Policies Review Division, and his team for their outstanding 
efforts, cons tructive engagement, and support during this exercise, which has successfully brought 
us to this point.  
2.2.  Our special thanks also go to H.E . Ambassador  José R. Sánchez -Fung, the Dominican  Republic 
Permanent Representative, who has kindly accepted the role of  discussant in this exercise. 
Ambassador Sánchez -Fung, we believe your high -profile expertise in WTO matters and the inherent 
challenges of small island developing states (SIDS), will add an important contribution to our Review. 
We are looking forward to y our insightful remarks.  
2.3.  The Republic of Seychelles considers the Trade Policy Review process as an important pillar of 
the WTO. A demanding but worthwhile exercise: it helps to achieve transparency and a greater 
understanding of Members' trading policies and practices and their impact on the multilateral trading 
system. It additionally provides a comprehensive picture of trade policies and their implementation. 
It shows us where we are in our reform efforts and what needs to be addressed.  
2.4.  We gladly noted that Members had shown moderate interest in our policies. We received about 
61 questions from 5  Members. We are thankful for the Members that sent their questions in advance. 
We have endeavoured to answer all questions within the deadline. We wish to also express our deep 
appreciation to all delegations attending Seychelles' first Trade Policy Review . This reaffirms the 
interest in the development of Seychelles and its trade, economic, and investment policies.  
2.5.  The Reports of the WTO Secretariat and the Government of the Republic of Seychelles are 
before you distinguished delegates. While they concisely and comprehensivel y cover information on 
Seychelles' economic, trade, and investment policies, please allow me to highlight a few points in 
today's meeting.  
2.6.  The Republic of Seychelles is a small island developing state (SIDS) highly dependent on 
tourism and fisheries.  
2.7.  Seychelles is a net exporter of services, contributing to two-thirds  of Seychelles' GDP with an 
important source of foreign exchange, mainly from tourism. Aside from tourism, transport , and 
business services also contribute substantially to Seychelles' GDP. In  2020, 21.2% of the population 
was employed in the tourism sector and contributed to SCR  594 million of total earnings.  
2.8.  Alongside the services sector, fisheries contribute 6% of the GDP and employ between 10 % to 
15% of the population. Exports of fishery products account for over 90% of the total annual export 
revenues for Seychelles, with more than SCR  4 billion worth of fisheries products being exported 
annually.  
2.9.  Seychelles' major trading partners in relation  to imports and exports are the EU27, France, 
Italy, Spain, the United  Arab Emirates, India, China, and the United  Kingdom.  
2.10.  Climate change poses long -term sustainability risks to Seychelles. Indeed, as a SIDS, 
Seychelles is most vulnerable and significantl y affected by the negative impacts of climate change.  
2.11.  Seychelles faced robust economic growth between the years 2015 and 2019, ranging between 
3.1% – 5.6% in real terms. Simultaneously, between 2015 to 2019, the inflation rate averaged at 
2.3% year -on-year, and the debt -to-GDP ratio decreased steadily from approximately 66% to 54%, 
while the fiscal surplus improved, averaging at approximately 3% of GDP.  
2.12.  In 2020, Seychelles was significantly affected by the COVID -19 pandemic, which interrupted 
our positive economic performance and trajectory. Being a SIDS, the economic and social shocks 
from COVID -19 was quite severe on Seychelles' economy. Economic growth declined significantly, 
from 3.1% in 2019 to -7.7% in 2020, output contracted by approximately 7.7%, th e exchange rate WT/TPR/M/433 • S eychelles  
 
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  depreciated, and the debt -to-GDP ratio rose sharply from about 60% to over 100%. As a result, 
Seychelles recorded its highest primary deficit in over 37  years of about 15.8%.  
2.13.  Seychelles recorded a remarkable economic recovery in 2021, fuel led by a 
faster -than-expected rebound of the tourism sector. The recovery was accompanied by strong fiscal 
over-performance, which continued in 2022 with double -digit growth in tourism arrivals and output. 
The experiences of 2020 signalled a need to divers ify the economy and reduce reliance on tourism.  
2.14.  During the 2020 to 2021 period, Government policy was dominated by measures to support 
the economy, ensure food security and mitigate the financial impact of the pandemic on businesses 
and individuals. Seych elles' economic policies placed emphasis on priority areas of the Government, 
namely, the tourism, agricultural, fisheries and blue economy, digital economy, and financial sector .  
2.15.  Whilst the Transformative Economic Agenda remains a priority for the Govern ment of 
Seychelles, the country is cognizant of the recent geopolitical impacts and remains mindful of the 
need to address long -run structural challenges that the country faces, including the effects of climate 
change.  
2.16.  Seychelles has already achieved a remarkable level of economic development. However, 
Seychelles continues to face the inherent challenges of being a small – relatively isolated island 
nation. In addition, Seychelles, classified as a high -income country, li mit its access to official 
development assistance and loans at concessional rates. Thereby constraining the ability to respond 
agilely to threats and impacts on the economy.  
2.17.  Like many SIDS, Seychelles has been hit hard by the COVID -19 pandemic – severely affecting 
economic activities. Our GDP contracted by 14.9% in 2020, with a decline in the tourism sector by 
62% between 2019 and 2020. Measures that were applied to contain the transmission of the 
COVID -19 virus have been particularly damaging to the econo my within the context of debt 
sustainability and the need for fiscal space to drive a much -needed recovery.  
2.18.  In 2020, the primary deficit was 15.8% of GDP due to lower revenues and higher 
COVID -19-related spending.  
2.19.  In the face of this situation, the Gover nment stepped in to provide significant support to aid 
the private sector during the peak of the pandemic. The principal assistance provided was the 
Financial Assistance for Job Retention (FA4JR) initiative, which guaranteed the salaries of employees 
and s elf-employed people impacted by the pandemic up to a maximum of SCR  30,000  per month. 
The FA4JR programme was launched in April  2020 and was phased out by March  2022.  
2.20.  Furthermore, the combined effect of Central  Bank Seychelles' (CBS) support and earnings 
from fisheries -related activities helped to mitigate the decline in foreign currency earnings.  
2.21.  As a SIDS open to the world economy, Seychelles lacks natural resources, has limited scope 
for economic diversification, and is heavily reliant on the rest of th e world, making it highly 
vulnerable to external shocks.  
2.22.  Not only does Seychelles depend heavily on tourism and fisheries, but it also imports 
over 90% of its total primary and secondary production inputs. International trade, therefore, plays 
a vital role  in Seychelles' economy.  
2.23.  Seychelles remains fully committed to a fair and equitable rule s-based multilateral trading 
system. We remain fully committed to deeper economic integration, bilaterally, regionally, and 
globally. Indeed, Seychelles has continued t o open up markets at the bilateral and regional levels. 
We intend to consolidate and diversify market opportunities in trade in goods and services, improve 
competitiveness and the investment climate, and enhance economic cooperation with as many 
countries as possible.  
2.24.  Since its accession to the WTO, the Government of Seychelles has engaged in multiple policy 
directives to improve its trade regime and further enhance the opportunities to trade by 
implementing several initiatives. Seychelles put in place rele vant policies, enacted laws, and WT/TPR/M/433 • Seychelles  
 
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  regulations based on international standards to effectively implement its trade policies consistent 
with its WTO obligations, maintaining an open, free , and transparent economy.  
2.25.  Seychelles has accomplished much during the review period, where trade policies focused on: 
(i) promoting and enhancing the multilateral trading system; (ii)  improving regional and bilateral 
trade collaboration; and (iii)  reflecting the Government's role as the facilitator and the private sector 
as drivers of sustained growth and creators of wealth.  
2.26.  With a view of eliminating barriers to trade in goods, subsequent to its accession to the WTO, 
Seychelles took measures to streamline its export licensing requirements. It further established its 
"Policy  on National Framework on Technical Regulation and Conformity Assessment " procedures. 
Seychelles further established its National Committee on Technical Barriers to Trade to deliberate 
on all TBT related issues and develop national positions when required.  The composition of the 
National Technical Barriers Committee is being reviewed to ensure more efficiency in the 
deliberations. A National Sanitary and Phytosanitary (SPS) Committee was also established.  
2.27.  Effective trade facilitation requires efficient trad e coordination across the entire supply chain. 
With this in mind, in 2015, Seychelles set up its National Trade Facilitation Committee (NCTF), 
providing the private and Government stakeholders with a platform to encourage discussion on 
non-tariff barriers and to resolve trade facilitation related issues whilst promoting and facilitating 
trade. The Committee has also been designated to address any arising perceived non -tariff barriers. 
While the Committee has successfully resolved several issues pertaining t o trade facilitation, we are 
mindful that some challenges remain due to resource and infrastructure limitations.  
2.28.  Seychelles made the commitment to accede to the WTO Government Procurement 
Agreement  (GPA), and we have received questions on the period for th e completion of the review of 
the Seychelles Public Procurement Act, 2008. As notified to the Committee on Government 
Procurement on 2  November  2022, the review process is still ongoing. This is a complex and highly 
technical process, and given the circumstance following the COVID -19 pandemic, the process for the 
review had to be adjusted accordingly. In addition to the review of the Act, a review to the internal 
structure of the Procurement Oversight Unit is also being undertaken. Subject to the Review, 
Seychelles expects to finalize this process by the end of the year  2023. Once again, we hope that 
Seychelles may accede to the GPA in good time and in the most orderly manner.  
2.29.  With the aim of protecting and promoting a diverse economy for Seychelles,  a set of Trade 
Remedies legislations are being developed, including provisions on anti -dumping, safeguards, and 
countervailing measures. However, further assistance is required for the country to draft and 
implement provisions relating to Trade Remedies e ffectively.  
2.30.  On that note, we are happy to inform you that as a member of the ACWL, Seychelles officers 
from the Trade Division and the Attorney General's office are benefiting from a two -phase training 
programme on trade remedies facilitated by the ACWL l awyers. The programme, which started in 
October  2022, will end in January  2023. At the end of the training, we anticipate that these officers 
will have a better understanding of the Trade Remedies rules under the WTO (including available 
flexibilities) and  how these rules constrain the manner in which members apply their anti -dumping, 
countervailing, and safeguard measures; have a better appreciation of the challenges and 
opportunities for trade remedies in Seychelles; and have an advanced and integrated un derstanding 
of the variables pertinent to the manner in which the anti -dumping, countervailing, and safeguard 
measures can be implemented in Seychelles' domestic law. Further assistance in this area would be 
much welcomed, especially to educate our stakeho lders on the implementation of such a law.  
2.31.  Seychelles perceives FTAs as a complementary platform for the multilateral trading system 
within WTO. Seychelles currently has four regional trade agreements (RTAs) in force and operation 
involving about 30  econo mies. The two other agreements are (i)  the Interim EPA between the 
European  Union  and Eastern and Southern African (ESA); and (ii)  the Common Market for Eastern 
and Southern Africa (COMESA).  
2.32.  During the review period, Seychelles concluded and implemented t he Economic Partnership 
Agreement (EPA) with the United  Kingdom, following its exit from the European  Union. 
The Agreement , which came into application in January 2021, is a simple transposition of the Interim 
Economic Partnership Agreement which Seychelle s was already implementing with the EU.  WT/TPR/M/433 • S eychelles  
 
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  Seychelles was actively engaged in various trade negotiations with other African economies, more 
notably the African Continental Free Trade Area (AfCFTA), as well as negotiations within the 
frameworks of the Southern  African Development Community Protocol on Trade (SADC Free Trade 
Area), and Common Market for Eastern and Southern Africa (COMESA) Free Trade Area.  
2.33.  To further increase and facilitate trade, Seychelles signed the Harmonized System Convention 
on 31  March  2020. It deposited its instrument of accession to the International Convention on 
21 August  2020, being the 160th contracting party to have successfully acceded to the 
HS Convention. With the recent ratification of the HS  Convention, Seychelles is doing its utmost to 
remain up to date with the changes being affected by the convention. We are pleased to announce 
that the new HS  2022 was approved and gazette on 1  November  2022.  
2.34.  Fair and effective competition is a key part of the development agenda of Seychelles . In 
June 2022, Seychelles amended its competition policy's legal and institutional framework by 
adopting the Fair -Trading Act  2022.  
2.35.  It has been and remains in the Seychelles Government's interest to enhance intellectual 
property  (IP) protection, support the development of knowledge -based industries, stimulate 
international trade and encourage investment and technology transfer through IP. During the review 
period, Seychelles introduced some institutional changes to improve efficiency a nd facilitate 
intellectual property rights registration. With the aim of expanding the benefits of IP, including in 
the protection granted and in the enhancement of creativity and innovation, Seychelles became a 
member of the African Regional Intellectual Property Organization (ARIPO) on 1  October  2021 
through the Harare  Protocol.  
2.36.  To continue its effort to open up its economy to the world, Seychelles recognized the 
importance of enhancing and reforming its investment climate. The investment framework was 
reviewed and developed as the country strengthened its investment regimes follo wing the WTO 
accession. To this end, during the review period, various restructurings within the Government have 
impacted the entity that has an oversight role on the investment climate. Seychelles also actively 
engages in different modes pertaining to imp roving the Ease of Doing Business in the country. 
Additionally, an Investment Policy Review was conducted by UNCTAD in 2020 with recommendations 
for actions to be undertaken to improve the investment climate in Seychelles. The Ministry 
responsible for Inve stment has taken this up as part of its action plan for the coming years to help 
improve the investment climate in Seychelles.  
2.37.  The Seychelles tourism sector, for which the economy is heavily reliant on its imports, is a 
critical economic pillar that contri butes significantly to Seychelles' development. There are currently 
works and ongoing assessments of diversifying the Seychelles Tourism Product to other potential 
niche markets such as eco, agri, marine, cultural, sports, and adventure tourism which will lead to 
the development of the respective policies. The Tourism Department is thus also conducting a 
cultural audit to identify individuals and cultural tourism products that will add to the destination's 
experience.  
2.38.  Seychelles has a well -developed fisher ies sector that plays a vital role in the social and 
economic development of the country. Although the fisheries sector has grown substantially over 
the past three  decades, concerns have grown regarding the sustainability of the fish stocks in 
Seychelles, and the depletion of fisheries resources, now poses a threat to the livelihoods of 
fishermen, food security, and the economic role of the sector.  
2.39.  The future development of Seychelles' fisheries sector is tightly linked to diversification, 
economic resilie nce, and sustainability. As a result of the limited scope for growth in catch or 
production, the Government of Seychelles has emphasized the continued expansion of fisheries 
through enhanced value addition, encouragement of a circular economy, and the deve lopment of 
aquaculture.  
2.40.  In light of the above, it is crucial that Seychelles continues to have the freedom and capability 
to choose and implement the best combination of economic and social policies in order to achieve 
equitable and sustainable developmen t that is most appropriate to its national context with regard 
to the fishing industry.  WT/TPR/M/433 • Seychelles  
 
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  2.41.  Seychelles' financial services sector is the third pillar of its economy, alongside the tourism 
and fisheries sector. During the economic hardship of the global pandem ic, the financial services 
sector continued to contribute actively to the economy. On the other hand, the non -bank financial 
services sector also provides a significant amount of jobs within Seychelles. The Seychelles Financial 
Services Authority (FSA) con tinues to strive for continuous development in the sector with the 
aspiration of further job creation. The FSA launched its Strategic Plan in early 2021, encapsulating 
its vision and mission statement and its five-year Strategic Plan (2021 -2025), taking in to account 
recent internal and external challenges in the FSA's effective delivery of its regulatory responsibilities 
and mandate.  
2.42.  The agricultural sector is characterized by subsistence production. The majority of agricultural 
production is categorized a s being low in inputs. The main cash crops produced in Seychelles are 
coconuts, cinnamon, vanilla, and major vegetable crop production (including lettuce, Chinese 
cabbage, chili, pumpkin, and cucumber), root crop (such as sweet potatoes, cassava), and 
horticultural crops (namely papaya and bananas).  
2.43.  Seychelles is a net food importer, with about 80% of food coming from external markets. 
It imports virtually all requirements of the main staples, namely wheat products, and rice. Vegetable 
oil, meat products, m ilk, dairy products, and other fruits and vegetables that cannot be produced 
locally. Additionally, the continued uncertainty surrounding the effects of the pandemic, and ongoing 
international conflict, coupled with shipping and transportation challenges e xperienced since  2020, 
heightened the importance of enhancing food and nutrition security in Seychelles. This necessitated 
the Government to intervene and provide additional support to ensure the sector's survival and 
guarantee food and nutrition security.   
2.44.  Seychelles is at a crossroads on matters of energy. The country has achieved a high level of 
economic development and is aspiring to accelerate this development during the coming decades. 
In order to continue ascending this economic development curve and  reach new targets, the country 
would need a secure energy base that effectively caters to current and future demands and a 
long-term balance between energy demand and supply. It would also need to become efficient in 
the use of scarce energy resources and  be able to satisfy its own energy needs. The dominance of 
fossil fuels in meeting the country's energy demand is a common feature of SIDS. Seychelles is 
currently heavily dependent on imported fossil fuels. This has exposed its economy to global fuel 
supply chain risks and raised concerns over its energy security. The Government has conveyed its 
long-term commitment to move to 100% renewable energy (RE) by 2050, with a near -term target 
of 15% RE by 2030. With the revised Nationally Determined Contribution (NDC) submitted, 
Seychelles is currently revising its institutional, policy, and legislative frameworks in the energy 
sector.  
2.45.  Seychelles' Trade Policy is articulated towards building a diversified, more resilient, and open 
economy that is fully integrated  globally. Such commitment is reflected in the steady progress made 
in the implementation of its WTO Membership obligations since its accession in 2015, as well as in 
its active participation in regional trade initiatives and the newly adopted national pol icy strategy – 
Vision  2033.  
2.46.  Let me re -emphasize the Republic of Seychelles' steadfast commitment to this Organization's 
objective and an open, transparent, inclusive, non -discriminatory rules -based multilateral trading 
system.  
2.47.  Seychelles is grateful to the WTO Secretariat and other international organizations for 
providing all -important technical capacity -building and assistance to Seychelles officials. However, 
we recognize there is always a need for further training and capacity -building – particularly for 
Government officials, to ensure that our work and reforms correspond to the best international 
practices.  
2.48.  Before concluding, I wish to thank you, Mr  Chairperson, for presiding over Seychelles' 
first Trade Policy Review and convey my deep ap preciation to the distinguished delegates for sparing 
time to participate in the Seychelles review. My delegation looks forward to a fruitful deliberation 
over the two  days.  
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  3  STATEMENT BY THE DISCUSSANT  
3.1.  I congratulate Seychelles on successfully completing  its first Trade Policy Review . The 
World  Trade Organization aims to promote a well -functioning and non-discriminatory  global trading 
system. But the conditions for individual countries to benefit from the resulting global public good 
are often difficult t o meet, and that is especially the case for small vulnerable economies like 
Seychelles.  
3.2.  The Report by Seychelles is comprehensive and confirms the country 's commitment to 
transparency about its trade policy and practices. The Report is complemented by the  WTO 
Secretariat 's own assessment of the economy 's evolution during the review period. Please allow me 
to contribute some points as discussant.  
3.3.  Seychelles is a high -income economy with a population of approximately 100 ,000 people. 
The World  Bank reports that the country 's human capital index is higher than the average for the 
sub-Saharan  Africa region but lower than the average for its reference income group. Gross domestic 
product (GDP) per capita was over USD 13,000 in 2021. The growth rate of r eal GDP reached 7.9% 
in 2021, cancelling the pandemic -induced dip of -7% in 2020; for 2022 the IMF is projecting growth 
to be over 10%  
3.4.  In this context, UNCTAD 's 2020 Investment Policy Review of Seychelles reveals a healthy 
climate for foreign investors -this should support efforts to increase the private sector 's participation 
in the economy as proposed in the national policy strategy Vision  2033. UNCTAD 's study also 
provides a sound foundation for being optimistic about the potential to achieve a sustaine d post 
pandemic economic recovery. Diversifying the portfolio of countries investing in Seychelles should 
provide an extra barrier against external shocks.  
3.5.  Tourism is the most important sector of the economy of Seychelles: totalling  about one-third 
of outp ut before the pandemic. Fisheries is the second most important sector -amounting to 
over 90% of merchandise exports in 2021. Other parts of the economy will likely benefit from the 
explicit policies to be articulated via the country 's Vision  2033 plan.  
3.6.  Careful analysis estimating the expected impact of adverse shocks is important given the 
inherent fragility of tourism and fisheries. For instance, the recent pandemic, and changes in the 
natural environment, can generate substantial temporary and permanent d amage. Understanding 
the magnitude, speed of transmission, and persistence of the shocks is critical for Seychelles.  
3.7.  In that regard, as the rest of the world, Seychelles faced challenges deriving from the COVID -19 
pandemic. The topic is important given th e unique conditions prevailing during the period examined 
by the Trade Policy Review Exercise . The pandemic is now under control, but economists and 
policymakers worry about understanding the impact of COVID -related lockdown policies.  
3.8.  The analysis is rele vant for thinking about the trade-offs that governments must consider when 
facing future adverse shocks -in Seychelles and elsewhere. There are multiple channels potentially 
involved for an economy like Seychelles. Including, among others, its small island  nature, stage of 
economic development, and the related economic structure.  
3.9.  What do we know about the cost of lockdown policies in Seychelles? Research by the 
International Monetary Fund (2022) attempts to throw light on that topic. The IMF 's investigatio n 
undertakes econometric modelling incorporating a reference country derived from data for a group 
of economies with similar vulnerabilities and good data availability: the countries are the Kingdom 
of Bahrain, the Dominican  Republic, and Mauritius.  
3.10.  The I MF's analysis focuses on estimating the cumulative output loss relative to potential 
(pre-pandemic) output in Seychelles: the estimates reveal that the cumulative output loss 
attributable to domestic pandemic measures amounts to 10% of GDP. As with any mod elling 
exercise, the results depend on a series of assumptions. But they point to the fact that as a small 
vulnerable economy, dependent on tourism, Seychelles paid a relatively high price for its 
containment policies.  WT/TPR/M/433 • Seychelles  
 
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  3.11.  Moving on, allow me to highlight that the WTO is advancing on topics that are critical for 
Seychelles. Particularly, the country can benefit from the landmark Agreement on Fisheries Subsidies 
reached at the 12th Ministerial Conference. Preserving marine species will benefit a large part of the 
economy that critically depends on the industry; and it will also contribute to protecting the 
ecosystem for future generations.  
3.12.  In this regard, the country should be comme nded for its Blue Economy Strategic Framework. 
And also for issuing the world 's first blue bond during the review period. I wish the authorities of 
Seychelles every success in the process to ratify the WTO 's Agreement on Fisheries Subsidies.  
3.13.  The Trade Pol icy Review Exercise for Seychelles provides rich information and relevant 
analysis for understanding the economy 's challenges and opportunities, with particular focus on its 
trade policy and practices. I am inclined to thinking that the country is in a sol id position to continue 
making progress towards sustainable growth and development ultimately leading to improvements 
in the well -being of its citizens. Please allow me to close this comment with three questions.  
3.14.  Given that macroeconomic stability is a nec essary condition for sustainable economic 
progress, and to help in consolidating the country 's effort to implement a market -based (indirect) 
monetary policy since 2019: Is the Central  Bank of Seychelles contemplating formal supplementary 
communication tool s to help market participants in forming expectations about the expected 
evolution of the economy?  
3.15.  In the light of the vulnerability deriving from its geographical location and territorial size: Is 
there scope for diversifying the economy to place it in a better position to confront adverse external 
shocks?  
3.16.  Considering the central role of the natural environment for long -term economic development, 
particularly for a small island: Is Seychelles expecting to explicitly monitor topics at the intersection 
of "trade and environment " in its national policy strategy -Vision  2033? What are the challenges to 
successfully pursue that objective?  
3.17.  I congratulate Seychelles on a thorough exercise about its trade policy and practices. The 
country 's authorities have a good  foundation to design and implement plans that contribute to an 
open and fair international trading system, and to long -term prosperity for its citizens.  
  WT/TPR/M/433 • S eychelles  
 
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  4  STATEMENTS BY MEMBERS  
SINGAPORE  
4.1.  Allow me to begin by extending a very warm welcome to the delegation  from Seychelles, led 
by Minister of Finance, National Planning and Trade , H.E. Mr Naadir  Hassan. We would also like to 
express our appreciation to the Chair Ambassador Ángel Villalobos (Mexico), the discussant 
Ambassador Jos é Sánchez -Fung (Dominican  Republic), as well as the Secretariat for their insightful 
reports and statements. In particular, Singapore welcomes Seychelles ' enthusiastic participation in 
its first TPR, which reflects its commitment to achieve greater transparency and adher ence to rules, 
disciplines and commitments made under the multilateral trading system. Allow me to make 
three  points.  
4.2.  First, as small island states with open economies, Singapore and Seychelles share similar 
challenges. Both Singapore and Seychelles lack n atural resources, and are highly susceptible to 
external shocks. This was evident during the COVID -19 pandemic, which affected Seychelles ' 
economic performance and particularly, the tourism sector (which is the main pillar of Seychelles ' 
economy). Seychell es has taken timely actions, including providing financial support to the private 
sector to help enterprises cope with rising operating expenses.   
4.3.  Given both Singapore 's and Seychelles ' limited physical size, we share common challenges such 
as food securi ty. We commend Seychelles ' emphasis on the agricultural sector, and its focus on 
improved food security, economically sustainable production, and the aim to encourage more 
consumption of local products. For example, the Seychelles National Agriculture Inve stment 
Plan (SNAIP) has programmes to improve domestic food production and enhance food security 
through a diversification strategy. This is similar to Singapore 's "30 by 30 " policy, where we are 
working to build our agri -food industry 's capability and cap acity to produce 30 % of our nutritional 
needs locally and sustainably by 2030. We will continue to encourage more business -to-business 
and government -level engagements on this and other topics.  
4.4.  Second, Singapore looks forward to deepening our trade and eco nomic ties, and commends 
Seychelles ' continued efforts to enhance its investment climate. In this regard, we welcome 
initiatives such as (a)  the development of an investment portal which is to serve as a virtual platform 
for investor information and effici ent application; (b)  updating of the Companies Act to allow for 
digital filing of returns and applications; and (c)  the development of a provisional licence framework 
which allows a temporary regulatory framework for innovative businesses to operate. Such initiatives 
will enhance the business environment in Seychelles, which will in turn help to attract foreign 
investments.  
4.5.  Singapore is interested to deepen and expand our collaboration with Seychelles on a wide range 
of issues in the digital space  such as the inclusion of fintech and digital payment systems. In 
September  2022, Singapore hosted a high -level delegation led by Minister  Hassan, and Minister of 
Investment, Entrepreneurship and Industry, Devika  Vidot, to Singapore . In this connection, we 
encourage Seychelles to join the JSI on E -Commerce, which we believe will spur further growth for 
its micro, small and medium enterprises (MSMEs) and support the successful implementation of its 
digital strategy.  
4.6.  Third, on the mult ilateral front, Seychelles and Singapore are both steadfast supporters of the 
WTO. As small, trade -dependent nations, Singapore and Seychelles rely on the WTO to underpin the 
rules-based multilateral trading system and to provide predictability and stabili ty for global trade to 
grow. Singapore commends Seychelles ' participation in the Joint Statement Initiative (JSI) on 
Investment Facilitation for Development, and we would also like to encourage Seychelles to consider 
elevating its status as an observer to become a party to the Government Procurement 
Agreement  (GPA), given the importance of establishing open, fair and transparent conditions of 
competition in government procurement processes.  
4.7.  In conclusion, Singapore looks forward to continue working closely  with Seychelles in the WTO, 
and we would wish Seychelles every success for its inaugural TPR.  
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  CHINA  
4.8.  At the outset, I  would  like to welcome H.E. Mr Naadir  Hassan , Minister of Finance, National 
Planning and Trade, for leading the delegation of Seychelles to this Trade Policy Review and 
appreciate the Government of Seychelles for the preparation for the Review. I would like to express 
my gratitude to the discussant, Dr  José R. Sánchez -Fung (Dominican  Republic), for his insightful 
comments and guiding questions. My thanks also go to you, Mr  Chair, and the Secretariat for the 
valuable contribution to this review.  
4.9.  Let me start by congratulating Seychelles for its achievements since its accession to the WTO. 
As a small island state with international trade  playing an important role in its economy, Seychelles 
experienced a steady GDP growth at an average annual rate of 2.4% during 2015 -21, despite the 
huge impact of the C OVID -19 pandemic on its mainstay industries of fisheries and tourism. We are 
delighted t o witness the socio -economic development of Seychelles through its tremendous efforts 
in building a prosperous society and maintaining the leading position as the only high -income country 
in African region.  
4.10.  In the past seven  years, Seychelles has made stea dy progress in the implementation of its 
WTO obligations, and also participated actively in the various WTO activities. As mentioned in the 
Secretariat Report, Seychelles exercised the MFN  treatment to all of its trading partners, and took 
various steps to wards enhancing its foreign investment regime. With the ratification of the 
WTO Agreement  on Trade Facilitation, Seychelles had implemented about 88% of its commitment, 
with full implementation expected by December  2025. A large quantity of notifications i n accordance 
with WTO  rules has been made by Seychelles since  2015. We note that Seychelles is a participant 
of Investment Facilitation for Development, and encourage them to actively consider joining other 
Joint Statement Initiatives, such as Informal Dia logue on Plastic Pollution and Environmentally 
Sustainable Plastics Trade.  
4.11.  On the bilateral front, since the establishment of diplomatic ties between China and 
Seychelles, bilateral economic and technological cooperation as well as economic and trade 
excha nges have been continuously deepened. Bilateral trade has been stable in recent years, with 
a total trade volume of around US D 60 million. Tuna from Seychelles is exported to China and is 
very popular in the market. China is also actively involved in Seych elles' domestic development, 
with hundreds of millions of FDI from China flowing into the trade and retail sectors. We look forward 
to further deepening economic and trade cooperation with Seychelles and are ready to provide all 
aspects of support to Seych elles. 
4.12.  In order to speed up its integration into the world market and global value chain, we 
encourage Seychelles to make further improvement on its legislation in line with the framework of 
the WTO. An open and level playing field market economy is expect ed and welcomed by all.  
4.13.  We hope Seychelles will continue to stick to its development strategy around a sustainable 
blue economy, firmly uphold the multilateral trading system and make its economy more diversified, 
resilient , and open. We would like to wor k closely with Seychelles to build it as a beautiful tourism 
destination of zero -carbon footprint in the near future.  
4.14.  In conclusion, I wish this TPR of Seychelles a complete success.  
CANADA  
4.15.  Canada joins other WTO Members in welcoming the delegation of the Seychelles. We are 
pleased to be participating in this first Trade Policy Review of the Seychelles since its accession to 
the WTO in 2015, and we thank the Government of the Seychelles and the Secretariat for the quality 
of the reports su bmitted.  
4.16.  We congratulate the Seychelles on its steady economic growth since 2015 despite a 
contraction in 2020 due to the COVID -19 pandemic, which severely disrupted all areas of economic 
activity, in particular the tourism sector. We note that recovery of  this sector, which is the mainstay 
of the economy, is under way.  WT/TPR/M/433 • S eychelles  
 
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  4.17.  We also congratulate the Seychelles on having issued the world's first sovereign blue bond to 
attract private investment and finance a transition to sustainable fisheries. Also, in 2020, th e 
Seychelles adopted a national policy in response to climate change reorienting its development 
strategy towards a sustainable blue economy.  
4.18.  Canada is pleased to note that the Seychelles' trade policy is articulated towards building a 
diversified, more resilient and open economy that is fully integrated globally. This commitment is 
reflected in the steady progress made in the implementation of its WTO membership obligations, as 
well as in its active participation in regional trade initi atives and national efforts, such as its national 
policy strategy – Vision  2033. Furthermore, the entry into force of the African Continental Free Trade 
Agreement in 2021 will give new impetus to development in the Seychelles and its trade with other 
African countries.  
4.19.  We also wish to welcome the adoption last June of the Fair Trading Act, 2022, by the 
Government. This Act builds on and strengthens the Fair Trade and Competition Act and the 
Consumer Protection Act. This will enable better alignment with bes t international practices in this 
area. 
4.20.  Following its accession, Seychelles has made efforts to strengthen its investment framework. 
This has been reviewed and an action plan aimed at improving it has been established. In addition, 
measures aimed at increa sing trade facilitation have been put in place in order to attract investment. 
We would like to highlight the investments made in the financial sector that allow development 
aligned with international standards and focused on viable financial technologies.  Canada 
encourages the Seychelles to continue its efforts in this direction.  
4.21.  We welcome the Seychelles' 2010 -2030 energy policy, which aims to reduce energy 
dependence on oil. We believe there are many areas where Canadian expertise in renewable energy 
could support our two countries' efforts to work together to address climate change and its impacts 
on Seychelles.  
4.22.  In closing, it is clear that Seychelles recognizes the importance of the multilateral trading 
system. The country is making strong efforts to c omply with its WTO commitments, as demonstrated 
through its excellent notification record. Canada looks forwards to the continued active roles that  
Seychelles will in the WTO. We hope to increase our bilateral relations and continue our constructive 
collab oration within the various multilateral frameworks of which we are a part, in particular the 
International Organization of La Francophonie and the Commonwealth.  
4.23.  Dear members of the Seychelles delegation, on behalf of Canada, I wish you the best of 
success.  
UNITED  STATES  
4.24.  We would like to warmly welcome the Seychelles ' delegation and  compliment the Government 
of Seychelles on the Report for its first ever Trade Policy Review. Seychelles is a strong partner of 
the United  States and we look forward to today 's discussion.  
4.25.  As we have heard, Seychelles is a member of both the Southern African Development 
Community (SADC) and the Common Market for Eastern Africa (COMESA). The United  States has 
long been a supporter of regional trade in Africa, and signed a Trade an d Investment Framework 
with COMESA in 2000 to enhance engagement with the COMESA Secretariat and COMESA member 
States, including Seychelles, in order to increase U S-COMESA trade as and support greater 
intra-African trade within COMESA.  
4.26.  The United  States is committed to assisting countries to use trade as an engine of economic 
growth, as demonstrated by our extensive trade preference programs, including the African Growth 
and Opportunity Act (AGOA). We congratulate Seychelles on the work the Governm ent has done to 
improve economic conditions over time. Seychelles graduated out of AGOA eligibility in 2017 after 
reaching high -income country status.  
4.27.  Seychelles joined the WTO in 2015, becoming the 161st Member. Seychelles does notify draft 
technical reg ulations to the WTO Committee on Technical Barriers to Trade. In 2016, Seychelles WT/TPR/M/433 • Seychelles  
 
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  ratified the Trade Facilitation Agreement (TFA). Seychelles has also signed the COMESA - East African 
Community (EAC) -SADC Tripartite Free Trade Agreement (TFTA) and the Afric an Continental FTA 
(AfCFTA). Seychelles ratified the AfCFTA in June  2021 and announced its withdrawal from the TFTA 
in September  2021 to focus its resources on the AfCFTA.  
4.28.  As reflected through the United  States ' questions, we do have some concerns regardi ng a 
number of Seychelles ' notifications at the WTO. We look forward to Seychelles ' response, since 
timely notifications to the WTO by all Members are critical to ensuring that there is transparency and 
predictability in the international trading system. W e also sought further clarification on a number 
of topics related to Seychelles ' trading regime, including import licensing, International Trade Zones, 
standards and technical regulations, agricultural regulations, financial services, intellectual property , 
and trade remedies.  
4.29.  While Seychelles welcomes foreign investment though the Seychelles Investment Act, related 
regulations restrict foreign investment in a number of sectors where local businesses are active, 
including artisanal fishing, small boat char ters, taxi driving, and scuba diving instruction. The 
country 's investment policies encourage the development of Seychelles ' natural resources, 
improvements in infrastructure, and increases to productivity levels, but stress that these changes 
must be impl emented in an environmentally sound and sustainable manner.  
4.30.  Seychelles ratified the Trade Facilitation Agreement (TFA) in 2016. The United  States further 
encourages Seychelles to become more active in the WTO Committee on Trade Facilitation and to 
share i ts national experiences as part of its ongoing efforts to build national capacity among its 
technical agencies. We also invite Seychelles to make its technical assistance needs known to the 
Trade Facilitation Committee to raise awareness with international  development partners. Finally, 
the United  States  would welcome Seychelles ' participation in ongoing initiatives, particularly in the 
area of trade facilitation where a number of Members are working to secure a decision on 
strengthening resiliency and prep aredness through trade facilitation.  
4.31.  We once again congratulate Seychelles on initiation into the TPR process through a successful 
first Review.  
EUROPEAN  UNION  
4.32.  On behalf of the European  Union, I would like to welcome Minister H.E. Mr Naadir  Hassan  and 
his team to Geneva for the first Trade Policy Review of Seychelles since its accession to the WTO 
in 2015. I would also like to thank the discussant Dr  José R. S ánchez -Fung (Dominican  Republic) for 
his remarks.  
4.33.  The EU would like to commend the Seychelles on its recent economic performance, which has 
been especially impressive following its rapid recovery after the height of the pandemic. The 
ambitious measures implemented by the Government have borne its fruits, with the Seychelles on 
an apparent recovery path, with better than forecasted tourism earnings and on track of its external 
debt payments. With an expected GDP growth of 7.1 % for 2022, the positive economic performance 
of the Seychelles has been recognized by the International Monetary Fund in its r ecent Article  IV 
Consultation report as well as international rating agencies.  
4.34.  The European  Union appreciates the efforts made by the Seychelles on its diversification 
strategy to decrease its reliance on its dominant economic sectors, tourism,  and fisher ies. The EU 
looks forward to continuing its partnership with the Seychelles in providing technical assistance in 
its efforts to further diversify its economy.  
4.35.  The EU congratulates Seychelles on the legislative amendments it has adopted that have 
enabled th e EU to remove the country from its list of non -cooperative jurisdictions for tax purposes 
and looks forward to continue working with the Seychelles to ensure compliance with the continuous 
reinforcement of control and supervision in this regard. The EU lo oks forward to seeing the 
Seychelles adopt and implement the necessary reforms that will allow its removal from Annex  II. 
Through the Global Forum, a technical assistance programme co -financed by the EU, the Seychelles 
enjoys the opportunity to improve its  ability to exchange information with partner jurisdictions.  WT/TPR/M/433 • S eychelles  
 
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  4.36.  The European  Union takes note of the Seychelles ' targeted approach with the expiry of 
schemes that were put in place to provide short term support to businesses during the C OVID 
pandemic. With i ts accelerated recovery path, we welcome the Seychelles ' choice to be more 
effective and efficient in its support programmes.  
4.37.  The EU is the main trading partner of the Seychelles – the main supplier and the top 
destination market for the Seychelles. It is significant that trade with the EU increased by +127% 
since 2012, following the implementation of the interim Economic Partnership Agreement.  
4.38.  The EU concurs with the assessment of  the WTO Secretariat on actions taken by the Seychelles 
to meet its WTO commitments. The EU welcomes the participation of the Seychelles in some 
important plurilateral initiatives, such as investment facilitation for development, and would invite 
the Seych elles to join also Trade and environmental sustainability structured discussions (TESSD), 
especially considering the firm commitment of the Seychelles towards preservation of its terrestrial 
and marine biodiversity and for having won several awards due to its engagement in environmental 
protection and ocean governance.  
4.39.  Furthermore, the EU comments the Seychelles for pioneering work in environmental 
stewardship and climate action, serving as model for African peers and Small Island Developing 
States (SIDS) with the first ever issuance of the Blue Bond in 2016 for Debt for Nature Swap for 
marine resource management and for having declared 30% of its Exclusive Economic Zone as Marine 
Protected Area.  
4.40.  The EU acknowledges that the Seychelles, as an SIDS, is extr emely vulnerable to external 
shocks that might negatively impact on the good progress of the country so far. The EU encourages 
the Government to further involve the private sector and civil society in its consultation process in 
the crafting of the new eco nomic model for the Seychelles. As a strategic partner of the Seychelles, 
the EU remains committed to work with the country to address global challenges and accompany 
the Government on its transformation journey.  
4.41.  To conclude, the EU wishes to congratulate  the Seychelles on the substantial progress it has 
made since its accession to the WTO, despite the crises faced by the country, and reaffirms its 
partnership with the Seychelles Government. The EU wishes a successful first Review to the 
delegation of the Seychelles.  
JAPAN  
4.42.  Japan would like to welcome the delegation of Seychelles, headed by the distinguished 
delegate, H.E. Mr Naadir  Hassan , Minister of Finance, National Planning and Trade. Japan would also 
like to thank the WTO Secretariat and the Government of Seychelles for their Reports submitted for 
this review process, and the discussant, H.E.  Ambassador, Dr  José R. Sánchez -Fung 
(Dominican  Republic ) for his insightful remarks.  
4.43.  Taking advantage of this review opportunity, we would like to touch upon several issues.  
4.44.  First and foremost, Japan congratulates Seychelles ' first TPR and we commend Seychelles for 
its efforts and preparations to conduct its f irst TPR. We value that Seychelles ' trade policy is aimed 
toward building a diversified, more resilient, and open economy since its accession to the WTO 
in 2015, as well as in its active participation in regional trade initiatives and the newly adopted 
national policy strategy "Vision 2033 ".  
4.45.  With regard to our bilateral economic relations, Japan and Seychelles have maintained good 
trade relations over many years, centring  on the fishing industry, which is the main industry of 
Seychelles. We acknowledge tha t in recent years, Japan has shared common challenge with 
Seychelles, which has a vast Exclusive Economic Zone (EEZ), with a view to realizing a "Free and 
Open Indo -Pacific ", known as FOIP.  
4.46.  In addition, Japan has provided cooperation in the fields of disas ter prevention and the 
environment, through our provision of coast guard equipment, as well as support for the construction 
of coast guard facilities, in order to contribute to the stable economic development of Seychelles. 
We would like to continue to sup port Seychelles ' efforts, including climate change countermeasures.  WT/TPR/M/433 • Seychelles  
 
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  4.47.  Coming now to my third point, Japan commends Seychelles ' active engagement in the WTO 
since its WTO accession in 2015. In particular, we highly appreciate Seychelles ' active participation 
in various ini tiatives, including its contributions as a co -sponsor of Joint Statement on Investment 
Facilitation for Development in December  2021.  
4.48.  In order for Seychelles to achieve even more stable economic growth in the future under the 
multilateral trading system, we expect that steady progress will be made toward the full 
implementation of the TFA commitments scheduled by the end of 2025.  
4.49.  As poi nted out in the Secretariat 's Report, we take note of the fact that Seychelles has 
submitted 82  notifications since its accession to the WTO, and we appreciate its active contribution 
to ensuring transparency.  
4.50.  In conclusion, Japan will continue to play a l eading role in African development through the 
Tokyo International Conference on African Development (TICAD) process, which is an open, inclusive 
and transparent partnership framework. In August  2022, the Tunis Declaration was adopted at 
TICAD8, and Japan expressed the importance of "investment in people" and called for various efforts 
to be made to realize structural transformation for sustainable economic growth and development. 
It also welcomed African initiatives on regional economic integration, such a s the provisional launch 
of the African Continental Free Trade Area (AfCFTA) trade. It is hoped that these efforts will also 
contribute to the revitalization of Seychelles ' economy.  
4.51.  Japan appreciates Seychelles ' constructive contribution to the multilatera l trading system and 
its active participation in today 's TPR. We wish the delegation of Seychelles a successful and fruitful 
Trade Policy Review.  
JAMAICA  
4.52.  Jamaica joins others in extending a very warm welcome to the head of delegation, the 
Honourable Naadir  Hassan , Minister of Finance, National Planning and Trade, and the other members 
of the delegation of Seychelles, to Geneva, for this historic, inaugural Trade Policy Review of 
Seychelles.  
4.53.  We commend Seychelles on its achievements since the country 's acces sion to the WTO in 
April 2015 and extend our best wishes to the delegation for a successful Review. I also use this 
opportunity to express our appreciation to Ms  Veronique  Brutus, Chargé d 'affaires at the Permanent 
Mission of Seychelles, who has distinguis hed herself, demonstrating remarkable resilience in 
faithfully and expertly carrying out the mandate of her government in various for a, in Geneva , and 
as a member of the ACP group . She is a superwoman if ever there was one. We thank our discussant, 
H.E. Dr José R Sánchez -Fung (Dominican  Republic), for his perspectives which set the stage of 
today's deliberations. Jamaica expresses  its thanks to the delegation for their Country Report and 
commend the Chair and the Secretariat team for the arrangements made for this meeting.  
4.54.  Jamaica and Seychelles continue to enjoy friendly relations, which began in February  1979. 
We share many similarities as small island developing states (SIDS), including attendant 
vulnerabilities and challenges in our pursuit of sustainable economic growth and development. We 
note from the Government 's Report that Seychelles also suffers the additional disadvantages of its 
remoteness and lack of natural resources.  
4.55.  Jamaica commends Seychelles on the significant in -roads that the c ountry has made since its 
accession. It recently ratified the HS Convention and undertook other measures to enhance its Trade 
Policy Framework, including the amendment of the Seychelles Bureau of Standards Act in 2021, and 
the full implementation of its Ca tegories  A and B commitments of the Trade Facilitation Agreement. 
We note the challenges posed by the pandemic which resulted in the delay in the implementation of 
related projects, and that Seychelles would be seeking an extension to complete same by mid -2024. 
We encourage donor partners and other Members to favourably consider this request.  
4.56.  As reflected in its Report, the COVID -19 pandemic adversely impacted the country 's positive 
economic trajectory. It resulted in the contraction of GDP by 7.7%. The co untry 's debt -to-GDP ratio 
rose to over 100% and resulted in its highest primary deficit in over 37  years. Seychelles ' main WT/TPR/M/433 • S eychelles  
 
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  source of foreign revenue, tourism, declined by 62% between 2019 and 2020. It is noted, however, 
that earnings from the fisheries sec tor partially offset the reduced earnings from tourism.  
4.57.  We note that the Government implemented various socio -economic  policies to alleviate the 
negative impact of the pandemic including the provision of Financial Assistance for Job Retention, 
as well as t he introduction of a temporary moratorium on the issuance of import permits for the 
importation of motor vehicles, in the first instance, and later, a 25% Excise Tax, which was removed 
in January  2022. The Government also provided critical assistance to th e agricultural sector.  
4.58.  Against this background, Jamaica is pleased to note from the Government 's Report that its 
recovery from the pandemic was quick, fuelled by the rebound of the tourism sector, which 
contributes 16.5% to GDP and, in 2020, employed two -thirds of the local population. This recovery 
is expected to continue throughout 2022 buoyed by sustained growth in tourism arrivals and output. 
This is commendable and the Government 's efforts to sustain this upward trajectory should be 
supported.  
4.59.  The ser vices sector is the mainstay of Seychelles ' economy, contributing over two -thirds of 
the country 's total GDP. Like Jamaica, Seychelles has a strong reliance on export earnings from the 
tourism sector. Jamaica commends the Government 's ongoing efforts to di versify its tourism 
package to include other potential niche markets such as eco, agri, marine, and cultural tourism, 
and possible development of relevant policies. The launch by the Government of a Tourism Satellite 
Account (TSA), to be utilized for measu ring the economic impact of tourism in a destination, offers 
tremendous opportunities for sharing of best practices with other similarly endowed/likeminded 
Members. Jamaica, therefore, encourages Seychelles to explore collaboration in this regard.  
4.60.  We also  view positively the Government 's acknowledgement of the need to diversify its 
economy and reduce its reliance on tourism. We note that transport and business services are also 
substantial contributors to the country 's GDP. In addition, Seychelles has a we ll-developed fisheries 
sector, contributing 6% to GDP and employing between 10% and 15% of the population. Given 
concerns related to the sustainability of the fish stocks in Seychelles and the importance of the sector 
for the social and economic developmen t of the country, it is unsurprising that Seychelles has 
actively participated in the negotiations leading to the adoption of the Fisheries Subsidies 
Agreement . The recently concluded WTO Fisheries Agreement is especially important, since although 
partial,  it seeks to prohibit or limit certain forms of subsidies, namely those that contribute to illegal, 
unreported,  and unregulated fishing, and addresses other related issues, which are critical for 
developing countries like Seychelles. We note that the Gover nment launched its aquaculture sector 
in 2021 as part of its Blue Economy Strategy. The sector is expected to enhance the quality of fish 
and fish products and amplify export opportunities. Hence, it is critical for countries like Seychelles 
to have the ne cessary policy space, supported by appropriate global trade rules, to accomplish its 
sustainable development goals.  
4.61.  We appreciate the efforts of the Seychelles  to create a stable financial services sector, which 
is being strengthened with the implementation of its five-year Strategic Plan (2021 -2025). As a net 
food importing developing state, Jamaica understands the challenge posed by the uncertainty posed 
by the  pandemic, which necessitated the Government of Seychelles ' intervention in the form of 
subsidies to the agricultural sector. We further appreciate the Government 's efforts to address 
limitations related to its notification obligations on domestic support for the two -year period 
(2019 -2021).  
4.62.  Seychelles also has sought to strengthen its intellectual property rights regime through its 
accession to several international treaties. We note positively the commitment to continuous review 
to improve the efficiency and facilitation of IP rights registr ation. This is another area in which best 
practices could be exchanged, even within the WIPO, and with development partners.  
4.63.  In conclusion, Jamaica looks forward to continuing its collaboration with Seychelles within the 
multilateral trading system and re iterates its best wishes for a successful first Trade Policy Review 
of Seychelles.  
4.64.  Jamaica aligns itself with the statement to be delivered by Kenya on behalf of the ACP Group.  
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  MAURITIUS  
4.65.  Mauritius w armly  welcome s the delegation of Seychelles led by H.E.  Mr Naadir  Hassan, 
Minister of Finance, National Planning and Trade . Mauritius would  like to congratulate Seychelles for 
its first TPR since its accession to the WTO in 2015. We would like also to thank the discussant, 
H.E. Dr José R. Sánchez -Fung (Dominic an Republic) for his insightful remarks.  
4.66.  Mauritius and Seychelles are brotherly Indian  Ocean small islands states, sharing historical 
bonding, excellent b ilateral relations, and common cultural  traits. In Addition to our good bilateral 
relations, both countries enjoy common membership o f multiple region al trade and integration 
blocks,  including SADC, COMESA, the Indian Ocean Commission, the Tripartite Free Trade 
Agreement, UK  ESA Economic Partnership Agreem ent, and the AfCFTA . Both countries form part of 
ESA EU Interim Economic Partnership Agreement  negotiation with European  Union.  
4.67.  Mauritius and Seychelles are linked by common destiny . We share a join t jurisdiction with 
respect to the Joint Management Area (JMA) of the Extended Continental Shelf Area of about 
396,000  km2. Both Governments decided to make a Joint Submission to the UN  Commission on the 
Limits of the Continental Shelf on the sharing of this maritime area . It was the first of its kind, which 
goes to show  the excellent relations between the two countries about the sharing of resources . 
Our two countries  have a Commission on  Bilateral Cooperation , and the last one was held on in 2017 
in Mauritius. We have imp ortant a reas of cooperation, including on fisheries, agriculture, the  financial 
sector, legal affairs, security, ICT, but also the ocean econom y. 
4.68.  Mauritius would  like to highlight the impressive economic transformation of Seychelles over 
the review period,  as well as a well -manage d and rapid recovery  from the C OVID -19 pandemic . We 
salute the efforts that went into making  this rapid recovery  
4.69.  The Secretariat Report rightly acknowledges  that since its accession in 2015, the Seychelles 
experienced a real GDP a nnual average growth rate of 2.4% during the period of 2015 -2021, and 
this despite having contracted by 7.7% in 2020, due to  the COVID -19 pandemic.   
4.70.  As also reflected in the Report, Seychelles has the highest GDP per  capita in Africa , making it 
the only country in the region classified by the World  Bank as high -income. But allow me to make a 
comment here , and to show how  this GDP per  capita is such a difficult criterion . If you have a 
population the size of Seychelles' all you need is one cyclone  for this kind of GDP per  capita to go 
down whereas  if you have a cyclone  in the in a much bigger  country with a lower GDP per  capita , 
they might not  experience the same impact and the same effects. So, the vulnerability of the 
Seychelles cannot be overlooked by the fact that it has such a high GDP per capita. Nonetheless, we 
congratulate it, of course, for having this kind of achievement.  
4.71.  We note that in 2022 the applied MFN average tariff was 2.7% down from 3.8% in 2015. This 
makes of the Seychelles one of th e WTO Members with the lowest tariff rate application.  We 
commend Seychelles for this.  
4.72.  For Mauritius, we would like to highlight that Seychelles' products benefit from duty free 
treatment for 88.8% of the total number of tariff  lines.  
4.73.  We congratulate Seychelles for maintaining a positive re cord of notifications  to the WTO , not 
always an easy task for a small country. But I think the effort is also something that is important . 
We understand that some are still outstanding, and we encourage Seychelles to take the necessary 
steps to notify these outstanding notifications in a timely manner and in the interest of  transparency.  
4.74.  We also commend Seychelles for taking several initiatives in recent years to facilitate trade, 
including the implementa tion of the Trade Facilitation Agreement, as of June  2022 Seychelles ha d 
implemented about 88% of its commitments with full implementation expected by December  2025. 
It is how ever noted that Seychelles does not have a single window yet. Mauritius therefore  would 
like to encourage  Seychelles to work with international donors to set up a single window as it is an 
important trade facilitation tool.   
4.75.  Mauritius would like to underscore Seychelles' commitment in pursuing the agenda of the 
small,  vulnerable econom ies of the WTO and the discussions on fisheries subsidies. Both, Seychelles WT/TPR/M/433 • S eychelles  
 
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  and Mauritius are  SIDS exposed to the challenges be it in terms  of economic development or climate 
change. Both countries could  cooperate to explore on ways of accessing and financing climate change 
adaptation and resilience . 
4.76.  We w elcome the  outcomes of the COP27 held in Sharm  el-Sheikh , Egypt, and as such, we  
look forward to work with Seychelles towards accessing the  financial package on the new "Loss and 
Damage" fund for vulnerable countries.  
4.77.  Before I conclude, I would like to say that whilst  people talk about  the ocean economy and 
the blue economy as a sort of  new pillar  for SIDS, the development of this economy is far more 
challenging that it seems, and I think this is w here, along with Seychelles , I think , we would like to 
support any request to the international community  to help us advance this more quickly.   
4.78.  We wish Seychelles every success for its Trade Policy Review.  
OMAN  
4.79.  It is a great pleasure for the delegation of the Sultanate of Oman to participate in the first 
Trade Policy Review of Seychelles and we join other WTO Members in welcoming 
H.E. Mr Naadir  Hassan, Minister of Finance, National Planning And Trade , head of the  delegation of 
Seychelles and his distinguished delegation.  
4.80.  I would like to take this opportunity to thank the WTO Secretariat and the Government of 
Seychelles for their detailed and comprehensive Trade Policy Review Reports. I also thank the 
discussant H. E. Dr José R. Sánchez -Fung, Ambassador and Permanent Representative of the 
Dominican  Republic to the WTO.  
4.81.  The Sultanate of Oman and the Seychelles  enjoy a friendly relationship as they are both 
located in the Indian  Ocean, are members in the Indian Ocean Rim Association. Furthermore, both 
countries are members in the Article  XII group.  
4.82.  It was our pleasure that the working party on the accession of Seychelles was chaired by 
Ms Hilda Al -Hinai – the former Deputy Permanent Representative of Oman to the WTO  
4.83.  Seychelles and Oman established diplomatic relations back in 13  April 1983. Oman looked 
forward to further improving bilateral trade.  
4.84.  This is the first Trade Policy Review of Seychelles since its accession to the WTO in 2015. 
Since then, Seychelles had par ticipated actively in different bodies and activities and is also a 
member in various groups.  
4.85.  Throughout the review period, Seychelles' real GDP grew at an average annual rate of 2.4% 
during 2015 -21, despite having contracted by 7.7% in 2020 due to the COV ID-19 pandemic, which 
significantly disrupted all economic activities, notably tourism.  
4.86.  Seychelles has the highest GDP per  capita in Africa, making it the only country in the region 
classified by the World  Bank as high -income.  
4.87.  Seychelles' MFN average applied tariff is 2.7% (down from 3.8% in 2015), one of the lowest 
among WTO Members.  
4.88.  Oman commends Seychelles for undertaking various steps towards enhancing its foreign 
investment regime.  
4.89.  Oman congratulates Seychelles for amendi ng its legal and institutional framework, especially 
its competition policy in June  2022.  
4.90.  In the time of the review period, Seychelles has introduced some institutional changes 
directed toward improving efficiency and facilitating registration of intellect ual property (IP) rights.  WT/TPR/M/433 • Seychelles  
 
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  4.91.  All the initiatives undertaken so far demonstrate that Seychelles is eager to honour  its 
commitments towards the WTO.  
4.92.  Oman urges WTO Secretariat and the Members to take note of the challenges that Seychelles 
has faced, especially  in the current economic crisis. The Seychelles continues to invest efforts in the 
compliance to its WTO commitments in order to ensure more effective participation in the multilateral 
trading system  
4.93.  To conclude, the delegation of Oman wishes the delegatio n of Seychelles a very successful 
first Trade Policy Review.  
UNITED  KINGDOM  
4.94.  On behalf of His Majesty 's Government, may I welcome Seychelles ' delegation, led by 
H.E. Mr Naadir  Hassan  to their first Trade Policy Review.  
4.95.  The UK is grateful to the Government of Seychelles and to the Secretariat for their Reports, 
and to the distinguished Chair and our discussant, H.E.  Dr José R Sánchez -Fung, Ambassador of the 
Dominican  Republic, for kindly facilitating this review with their expert insights.  
4.96.  Seychelles are a small island developing state (SIDS) that have faced significant economic 
challenges from the COVID -19 pandemic, in large part due to the significance of the tourism sector 
within their economy. COVID -19 continues to affect the Seychelles ' economy, and the tuna canning 
industry in particular, as the cost of cans rises rapidly.  
4.97.  However, the UK commends Seychelles for the efforts they have made the diversify their 
economy, particularly around the Blue Economy which is a comparative advantage for them. 
Fisheries and the Blue Economy are large component of Seychelles ' economy and bilateral trade 
with the UK, and we are pleased to work with Seychelles through the International Trade Centre to 
support marine biotechnology.  
4.98.  Since joining the WTO in  2015, Seychelles have been involved in the negotiations pertaining 
to fisheries where they were highly engaged and in investment facilitation for development. We 
welcome their leadership and encourage continued active participation in these negotiations.  
4.99.  Upon the accession to the WTO, Seychelles also made a commitment to join the Government 
Procurement Agreement and they currently hold an observer status to the GPA Committee. We 
encourage Seychelles to continue their efforts to join the GPA.  
4.100.   In our bilater al relationship, the UK signed an Economic Partnership Agreement (EPA) with 
some Eastern and Southern African States, including Seychelles, which allows trade between our 
countries to continue to grow. We thank Seychelles for their efforts in ensuring the smooth 
ratification of the Agreement, which came into force in January  2021, and are looking forward to 
deepening our FTA.  
4.101.   Fisheries is an incredibly important part of the Seychelles ' economy. The EPA facilitates trade 
through the automatic derogation for canned tuna, which supports an industry employing over 
4,000  people on the islands. We encourage Seychelles to ensure sustainability continues to be an 
integral part of this industry.  
4.102.   Services account for almost 80% of Seychelles economy, largely driven by  activity around 
the tourism industry. We commend Seychelles for making specific commitments in GATS under the 
African Continental Free Trade Area, however, we would like to note reports on monopolies in the 
transportation and telecommunications sector. Se ychelles should continue to ensure that local 
licensing requirements do not inadvertently affect competition in these industries, driving up prices 
for consumers.  
4.103.   To conclude, we thank the Seychelles delegation for their fruitful engagement in this 
importa nt transparency exercise. We wish them well in completing their first Trade Policy Review.  
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  INDIA  
4.104.   At the outset, I would like to extend a very warm welcome to the delegation of Seychelles 
led by H.E.  Mr Naadir  Hassan, Minister of Finance, National Planning and Trade. India is pleased to 
be a part of the first Trade Policy Review of S eychelles. My delegation would further like to commend 
the Government of Seychelles and the WTO Secretariat for the comprehensive Reports and would 
also thank t he discuss ant H.E. Dr José R. Sánchez -Fung of the Dominican  Republic for his insightful 
remarks . 
4.105.   India and Seychelles enjoy multifaceted partnerships underpinned by historic linkages and 
closed people -to-people contacts . The bilateral relationship has been strengthened by the significant 
presence of the Indian diaspora in Seychelles, as well as the close cultural connect between our 
two countries.  This partnership has been further bolstered  by the strong support from the 
two Governments  seen through by regular high -level visits  between our two  countries . 
4.106.   India has been a steadfast  development partner of Seychelles through assistance in the form 
of lines of credit and grants.  To date , our bilateral development cooperation consists of abou t 
USD 18 billion in line s of credit and grants  USD 25 million . Capacity -building has been a strong  pillar 
of bilateral  cooperation . India has extended support and human resource development through its 
ITEC and ICC R scholarships  and specialized training program mes conducted under the India -Africa 
Forum Summit decisions . 
4.107.   As a mark of solidarity, India also assisted  Seychelles to help combat the C OVID -19 
pandemic by providing 50,000  doses  of vaccines under its Vaccine Maitri  progra mme. 
4.108.   Despite the significant scope for expanding bilateral trade between the two  countries, it 
remained modest at  about USD  51 million during 2021 -22. Seychelles ' main items of import from 
India are ri ce, miscellaneous food products, cements, lin en, cotton, vehicles  and associated transport 
equipment, medicines, instruments and  appliances for medical surgical and dent al use;  and main 
commodities exporte d to India are aluminium , alloy steel and its waste and  scrap, and coconuts.  
There is not only an urgent need to grow a trade but also diversify it . 
4.109.   In a manner that is beneficial to both countries, Indian  investment in Seychelles is also 
gradually increasing, and Indian companies are showing active interest i n expanding their presence 
in the country, both countries have established mechanisms and also have enter ed into MOUs in 
many sectors to further expand bilateral economic cooperation, particularly in the areas of energy, 
environment, blue economy , and medi cal tourism . 
4.110.   We thank Seychelles  for joining the International Solar Alliance as one of  the founding 
members, both countries are also working closely in a number of regional and global fora to advance 
our collective interest . 
4.111.   As noted in the Secretariat Report, Seychelles  is heavily dependent on the rest of the world 
and is highly vulnerable to external shocks . The services sector led by real estate and 
accommodation , and food service activities, accounts for almost 80% of Seych elles GDP and about 
two-thirds of total employment, not only does it depend heavily on tourism,  but it imports over 90% 
of its total  primary and secondary production  inputs. And therefore, like the rest of the world, the 
pandemic did bring  many challenges Seychelles , however, it is commendable that through prudent 
fiscal and monetary policy measures that were introduced to support the economy, ensure foo d and 
nutrition  security , and mitigate the financial impact on private businesses, e tc. The Seychelles  
economy showed  good recovery . 
4.112.   We further take note of the variou s changes  to legislative framework and adoption of 
measures and policies by the  Seychelles'  Government, in areas namely FDI, competition policy, 
trade facilitation , and intellectual property rights . 
4.113.   We are committed to unleashing  the full potential of our bilateral trade , investment , and 
development partnership for the benefit of our two people s. 
4.114.   As a recently acceded Member of this Organization, we look forward to e ngaging with 
Seychelles  on mutually beneficial issues across the WTO agenda . WT/TPR/M/433 • Seychelles  
 
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  4.115.   We wish the delegation of Se ychelles  a productive and successful first Trade Policy Review. 
SOUTH  AFRICA  
4.116.   We would like to join the delegations that preceded us in welcoming and co ngratulating the 
delegation of Seychelles led by H.E.  Mr Naadir  Hassan, Minister of Finance, National Planning and 
Trade. We thank the Government of Seychelles and the Secretariat for their detailed Reports. We 
also thank Dr  José R. Sánchez -Fung of the Dominican  Republic for his observations as a discussant.  
4.117.   Today 's TRP is special given that it is a first for Seychelles.  
4.118.   South  Africa and the Seychelles have well established bilateral trade relations through the 
Joint Commission on Bilateral Cooperation.  Through this Commission, we desire to accelerate trade 
and investment with the view of unlocking the potential for further economic growth, and we remain 
dedicated to build on our collaboration in key sectors including trade, health, tourism, civil aviati on, 
education, to mention a few.  
4.119.   Our relations are further characteri zed by regional arrangements. South  Africa  and 
Seychelles have well established trade relations through the Southern African Development 
Community (SADC) Free Trade Area and Seychelles h as acceded to both the SADC Protocol on Trade 
and the SADC Protocol on Trade in Services. South  Africa  is the Seychelles ' largest source of imports 
from its SADC partners, and the bulk of the Seychelles ' exports to SADC countries are destined for 
South  Africa.  
4.120.   Our trade has grown over the years and South  Africa enjoys a trade surplus with Seychelles. 
However, due to the COVID -19 pandemic we have experienced a slight drop of 3% in our exports 
from ZAR 951 million in 2017 to ZAR 841 million in 2021. Our impo rts on the other hand have risen 
by 14% from ZAR 22 million in 2017 to ZAR 39 million in 2021.  
4.121.   Regional economic integration remains key to the growth of African economies. The Tripartite 
Free Trade Agreement (TFTA) and the African Continental Free Trade A greement – (AfCFTA) will 
provide further opportunities to deepen our trade relations. On the 15  September  2021, Seychelles 
became the 39th country to ratify the AfCFTA . This is an important milestone as we embark on a 
process to promote the African Economic Community and to reali ze the Agenda 2063 vision that 
aims to promote sustainable development and growth of African countries and their integration into 
global trade.  
4.122.   The TPR of Seychelles is taking place when the world is reeling from the effects of the 
COVID -19 crisis. As highlighted by both Reports, like many other countries, Seychelles ' economic 
growth was hit by the negative impacts of the pandemic. Seychelles ' GDP contracted by 7.7% in 
2020, which significantly disrupted economic activity, especially tourism. However, as noted by both 
Reports, Seychelles rebounded in 2021 fuelled  by a fast recovery in the tourism sector and fiscal 
and monetary policy measures introduced to support the economy, ensure food and nutrition 
security, and mitigate the financial impact on private businesses.  
4.123.   Being a country dependent on tourism, fisheries, an d the financial sector, and noting its 
challenges as a net food importing country that is exposed to external shocks, the post MC12 agenda 
on the food security work programme to address the challenges of NFIDCs becomes all the more 
important. We also need to collectively reflect what the system can do to protect the interest of 
vulnerable economies as they pursue their growth trajectories. Importantly, the conclusion of the 
Fisheries Subsidies Agreement in line with its development mandate of ensuring an ef fective S&D in 
line with SDG  14.6 is critical to ensure the multilateral trading system advances issues that matter 
to developing countries, including Seychelles so as to broaden its benefits to all.  
4.124.   We note with interest the various trade policy initiativ es that have been implemented by 
Seychelles to enhance and improve its trade regime, including the development of Vision  2033 that 
aims to move the country towards a knowledge -based and innovation driven economy.  
4.125.   We note the Investment Policy Review that was conducted by UNCTAD in 2020 with a list of 
recommended actions to be undertaken to improve the investment climate and congratulate 
Seychelles for developing an action plan to be implemented in the coming years towards this WT/TPR/M/433 • S eychelles  
 
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  purpose. Additionally, Seyche lles has reviewed its investment framework to enhance its investment 
regime. Seychelles is also actively engaging in a process to improving the Ease of Doing Business.  
4.126.   We also note the current work being undertaken to not only enhance and diversify the 
three pillars of the economy, but to also diversify the entire economy to enable growth, economic 
resilience, and sustainability. In doing so, it will be important for the Seychelles to choose and 
implement the best combination of economic and social policie s that will advance industriali zation 
and structural transformation so to achieve equitable and sustainable development that will be best 
suited to its national context.  
4.127.   We commend the Government of Seychelles for the dynamism of its policy reform agenda,  
including its focus on promoting and enhancing the multilateral trading system; improving regional 
and bilateral trade collaboration; and reflecting on the government's public -private relations with 
government as the facilitator, and the private sector as  driver of sustained growth and creator of 
wealth.  
4.128.   We wish the Seychelles a successful TPR.  
ANGOLA  
4.129.   The delegation of the Republic of Angola would like to warmly congratulate Seychelles, on 
its first Trade Policy Review since its accession to the WTO in 20 15, most notably recently in its 
presence in the long negotiations on the Fisheries Subsidies Agreement leading up to MC12.  
4.130.   We also extent thanks to you , Chair, for the arrangements  for this meeting, also thanks to 
the S ecretariat for the high -quality Report, that clearly stresses Seychelles ' increased integration 
into the international trading system as a pivotal factor in fostering productivity, economic 
competitiveness , and growth.  
4.131.   In fact, since 2015, Seychelles' trade policy is articulated  towards building a diversified, more 
resilient, and open economy that is fully integrated globally.  
4.132.   Such commitment is reflected in the steady progress made in the implementation of its WTO 
Membership obligations, as well as in its active participation i n regional trade initiatives and the 
newly adopted national policy strategy – Vision  2033.  
4.133.   According to the World  Bank, Seychelles has the highest GDP per  capita in Africa in 2021, 
with a 78.6% share during 2015 -20, which makes it one of only two  African countries classified as 
a high -income economy.  
4.134.   According to the United National Development Programme (UNDP), Seychelles has the 
second -highest human development index in Africa, ranking 67th of 189  economies.  
4.135.   Seychelles has witnessed a strong trajectory of economic reforms and transformation. These 
have been a result of the government policy and resilience of the people against the backdrop of the 
pandemic, climate  change , and geopolitical crises.  
4.136.   In addition, swift immuni zation plans against COVID -19 reo pened Seychelles to the world 
again and returned tourist arrivals to the country.  
4.137.   We also acknowledge the National Tourism Service Excellence Programme in managing 
supply -demand sources of the tourist industry.  
4.138.   At the same time, we applaud the commitment of the Government to move towards and 
explore agri,  eco-friendly tourism.  
4.139.   This move will encourage sustainability and also drive its ' niche brand in world markets.  
4.140.   Both countries are much more than friendly . In 2021 They have signed the General 
Cooperatio n Agreement, that provides a framework for bilateral cooperation between the 
two countries.  WT/TPR/M/433 • Seychelles  
 
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  4.141.   A Bilateral Joint Commission will be established and will be responsible to discuss and 
monitor the implementations of specific cooperation between the two countries.  
4.142.   Angola would like to learn from Seychelles in the domain of entrepreneurship, especially how 
Seychelles encourages youth to kickstart their small businesses.  
4.143.   Both countries maintain excellent cooperation in the multilateral field, particularly i n the 
sphere of the Southern African Development Community (SADC) and the African  Union (AU).  
4.144.   Angola thanks the Seychelles  delegation to the WTO for their continued constructive 
engagement in the work of the Organi zation, and wish success to Seychelles, i n its economic 
transformation and changes.  
PANAM A ON BEHALF OF THE GROUP OF ARTICLE  XII  
4.145.   First, we would like to welcome and congratulate H.E. Mr Naadir  Hassan , Minister of Finance, 
National Planning , and Trade of Seychelles, as well as the Seychellois del egation for their preparation 
in their first Trade Policy Review.  
4.146.   We would also like to thank Ambassador José Sánchez -Fung of the Dominican  Republic, 
discussant for this review, for his excellent introductory remarks that capture Seychelles ' trade policy 
environment and the outlook ahead. We also wish to commend the work of the Secretariat as well 
as the Government of Seychelles for preparing the respective Reports.  
4.147.   This is the first Trade Policy Review of Seychelles. This is a significant milestone for a W TO 
Member that joined only seven  years ago, under Article  XII.  
4.148.   Like in many countries over the last three years, the COVID -19 greatly affected the 
Seychelles ' economy which relies heavily on tourism. Seychelle s' gross domestic product (GDP) 
contracted by 7.7%, which provides an indication of the severity of the pandemic 's effects. 
Therefore, we  are pleased to learn that Seychelles ' plans to diversify the econom y to reduce reliance 
on tourism.  
4.149.   We also note that Seychelles' GDP grew at an average annual rate of 2.4% during 2015 -21, 
and we hope that their post -pandemic recovery will match and improve their previous growth 
projections.  
4.150.   We congratulate Seychelles fo r their active participation in and commitment to the 
multilateral trading system and as a valued Member of our Group, and wish the Seychelles success 
in this first Review of their trade policies . 
MADAGASCAR  
4.151.   First of all, I would like to congratulate the p eople and Government of the Seychelles on their 
first Trade Policy Review at the WTO. I would also like to take this opportunity to welcome 
H.E. Mr Naadir  Hassan, Minister of Finance, Planning and Trade of the Seychelles, and to 
congratulate the team at th e Permanent Mission of the Seychelles to the WTO, for its Trade Policy 
Review at the WTO.  
4.152.   The Seychelles is a small island developing State (SIDS), heavily dependent on tourism and 
vulnerable to external shocks. Its accession to the WTO in 2015 showed from  the outset the country's 
willingness to evolve within and to promote the international trading system. The period under 
review, 2015 to 2021, illustrated this willingness in light of the changing international context and 
the Seychelles' responses, for wh ich Madagascar extends its congratulations.  
4.153.   In the period 2015 -2019, with a GDP of between 3.1% and 5.6%, the multilateral trading 
system was promoted and strengthened, international cooperation in trade was enhanced and the 
respective roles of government and the private sector in economic growth was harmonized.  
4.154.   While in 2020, at the height of the COVID -19 pandemic, GDP growth was negative at -7.7%, 
it increased to 7.9% in 2021 with a forecast of 10.8% for 2022. This period coincided mainly with WT/TPR/M/433 • S eychelles  
 
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  the need f or the Seychelles, like many countries, to adopt measures to support the economy and 
ensure food security, as well as measures to mitigate the effects of the pandemic on the economic 
fabric and households.  
4.155.   However, despite adverse international development s and the effects of climate change to 
which the country is vulnerable, it has not changed course with regard to its integration into 
international trade. Indeed, since its accession, and as well as concluding, ratifying and acceding to 
other agreements, t he Seychelles acceded to the Protocol on Trade in the Southern African 
Development Community (SADC) in 2015, ratified the Agreement Establishing the African 
Continental Free Trade Area (AfCFTA) in 2021, concluded and implemented the Economic 
Partnership Ag reement with the United Kingdom (UK -ESA EPA), and acceded to the International 
Convention on the Harmonized Commodity Description and Coding System, or the HS Convention, 
in 2022. At the regional level, Madagascar particularly welcomes the leading role pla yed by the 
Seychelles in the Indian Ocean Commission (IOC).  
4.156.   In conclusion, Madagascar would like to highlight the tremendous efforts of the Permanent 
Mission of the Republic of the Seychelles in Geneva in the work and negotiations within the WTO, 
particula rly in the various ongoing processes, which reflect the country's commitment since its 
accession, and wishes the Seychelles every success in achieving its development objectives, 
particularly in the process of diversification through the structural transfo rmations under way.  
CAMEROON ON BEHALF OF THE AFRICAN GROUP  
4.157.   The African  Group is pleased to be participating in the first Trade Policy Review of the 
Seychelles, and warmly welcomes H.E.  Mr Naadir  Hassan, Minister of Finance, Planning and Trade 
of the Seychelles, and the entire delegation accompanying him in this important work. We thank the 
Minister for his detailed opening statement on the state of the economy of the Seychelles. We also 
thank the discussant, H.E.  Dr José R. Sánchez -Fung (Dominican  Republic). We thank the entire 
WTO Secretariat and all the delegations that participated in this first Trade Policy Review of the 
Seychelles.  
4.158.   Based on the information contained in the two Trade Policy Review reports, we are pleased 
to note that since its acc ession to the WTO on 26  April 2015, the Seychelles has engaged in multiple 
policy directives to improve its trade regime, including acceding to the Protocol on Trade in the 
Southern African Development Community in 2015, ratifying the Agreement Establishin g the African 
Continental Free Trade Area in 2021, transposing the interim Economic Partnership Agreement into 
an agreement with the United  Kingdom, and acceding to the International Convention on the 
Harmonized Commodity Description and Coding System in 2 022. The implementation of all these 
macroeconomic policies over the past six years has resulted in a more favourable trading 
environment, and has enabled the country to maintain an average growth rate of 2.4%, despite 
persistent structural challenges, and  led to a contraction in growth of 7.7% in 2020, due in particular 
to the COVID -19 pandemic, which has severely disrupted all economic activities, notably tourism.  
4.159.   The Seychelles has the highest GDP per  capita in Africa, making it the only country in the 
region classified by the World Bank as high -income. We therefore commend the Government of the 
Seychelles on its reforms to raise the standard of living of its people.  
4.160.   The country is committed to building a diversified, more resilient and open economy that  is 
fully integrated globally, and this commitment is reflected in the steady progress made in the 
implementation of its WTO membership obligations since its accession in 2015. This commitment is 
also reflected in its active participation in regional trade  initiatives and the newly adopted national 
policy strategy – Vision  2033.  
4.161.   The African  Group notes in particular the progress made in achieving the commitments on 
trade facilitation related to categories  A, D and C, around 88% of which are scheduled for fu ll 
implementation by December 2025. We would like to congratulate the Government of the Seychelles 
on this significant progress.  
4.162.   We note that the Seychelles does not maintain any support programme for exports, and we 
welcome the agricultural policies imple mented by the country, including enhancing food and nutrition 
security, improving traditional farming methods, and facilitating the involvement of the private WT/TPR/M/433 • Seychelles  
 
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  sector. We broadly support this policy, and to that end the African Group has always called for u rgent 
measures to ensure the food security of our countries, which are for the most part not net food 
importers. We look forward to working further with the Seychelles within the African Group to find 
urgent solutions by MC13, without prejudice to discussi ons on the other elements of agricultural 
reform, so long awaited by the African Group, including public stockholding for food security 
purposes and special safeguard measures. This situation is a wake -up call to all of us, for the urgent 
need for industri alization and structural transformation in line with the 2063 Agenda: The Africa We 
Want.  
4.163.   The African  Group also commends the momentum created by the Seychelles in the 
aquaculture sector, targeting one of the most important activities for the country's eco nomy, 
following closely behind tourism, through the recent adoption of the implementation of the 
Seychelles' Blue Economy Strategic Policy Framework and Roadmap: Charting the Future 
(2018 -2030). The successful conclusion of the second phase of the current WTO negotiations should 
help enhance the development and competitiveness of this industry in the Seychelles.  
4.164.   We encourage the Seychelles to continue to support its artisanal fisheries while protecting 
its exclusive economic zone from depletion, particularl y from large -scale commercial or industrial 
fishing with access rights. This is an area of WTO negotiations where the African Group expects 
tangible development outcomes that provide clear disciplines for fisheries subsidies that contribute 
to overcapacity  and overfishing, including effective special and differential treatment for developing 
countries and LDCs. Our shared core objectives are to achieve a developmental outcome in all these 
areas, including development, during MC13 in order to contribute to t he much -needed 
industrialization and structural transformation of our economies, as the information provided in this 
Review shows.  
4.165.   We have much to say about the Seychelles' trade policy, but we would like to stop here. I 
would like to take this opportunity  to wish the delegation of the Seychelles every success in its 
first Trade Policy Review . 
ANTIGUA AND BARBUDA ON BEHALF OF THE OECS  
4.166.   I make this statement on behalf of the WTO member States of the Organisation of Eastern 
Caribbean States (OECS). We also ass ociate with the statement by Kenya on behalf of the 
ACP Group.  
4.167.   The OECS is pleased to participate in this the first  Trade Policy Review of Seychelles. We 
congratulate Seychelles on this milestone and wish them a successful Review.  
4.168.   As a Small Island Develo ping State (SIDS) and Small Vulnerable Economy (SVE), Seychelles 
mirrors the challenges typically faced by countries classified in this manner. Remoteness, high 
exposure and susceptibility to exogenous shocks, narrow economic structures, and import 
depende nce are but a few of the challenges.  
4.169.   The impact of the C OVID -19 pandemic on Seychelle ' economy adds to the body of literature 
which suggests that SIDS and SVEs  are more severely impacted by external shocks. The impact of 
the pandemic on Seychelles ' Gross Domestic Product (GDP) and current account deficit was 
particularly telling. History suggests that not only are SIDS and SVEs more severely impacted by 
exogenou s shocks, but they also take much longer to recover. This reality underscores the need for 
special and differential treatment in the WTO to be maintained, and where possible, enhanced given 
the unique circumstances which many of its Members face.  
4.170.   For example, the support which a small island nation such as Seychelles had to provide to 
its agricultural sector to cushion the blow from the pandemic cannot, will not and will never distort 
global markets. Therefore, SIDS and SVEs need to be able to reta in this kind of policy space in future 
WTO Agreement s.  
4.171.   Notwithstanding the impact of C OVID -19 on Seychelles economy, its Government must be 
commended for the overall good stewardship of the economy over the years, which has resulted in 
a high level of eco nomic development for the peoples of Seychelles. In this regard, the traditional WT/TPR/M/433 • S eychelles  
 
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  performance of sectors of the economy such as tourism, fisheries and financial services is particularly 
noteworthy.  
4.172.   Reforms to the investment climate, with a view to making it  easier to do business, as well 
as broader economic reform policies, are also to be commended. It is also evident that with respect 
to its trade policy and the reforms undertaken since joining the WTO, Seychelles takes its WTO 
commitments seriously.  
4.173.   Seych elles' participation in various free trade agreements, such as the African Continental 
Free Trade Area, the Common Market for Eastern and Southern Africa (COMESA), the Southern 
African Development Community, and Economic Partnership Agreements with the Eur opean  Union 
and the United  Kingdom point to the centrality that Seychelles ascribe to maintaining an open, 
predictable and legally binding regime for the conduct of its trade and economic relations with key 
partners.  
4.174.   On a more personal note, the OECS and Seychelles delegations are in close proximity. We 
both share the challenges of having small delegations in Geneva, with great responsibility. This is 
symptomatic of the capacity constraints which many small delegations face. It is in this context that 
I mu st commend Ms  Brutus, a team of one, for ably representing Seychelles at the WTO, 
notwithstanding the constraints of limited resources.  
4.175.   Finally, the OECS congratulates Seychelles on this first Review of its trade policy. Mindful of 
the economic headwinds which are ahead for the global economy, we take this opportunity to wish 
the Government and people of Seychelles the very best in building resilience and in thriving in all 
their endeavours.  
KENYA  ON BEHALF OF THE ACP GROUP  
4.176.   I am honoured to deliver this s tatement on behalf of the ACP  Group. Firstly, I would like to 
congratulate the people and government of Seychelles on their first Trade Policy Review at the WTO. 
I would also like to take this opportunity to convey a warm welcome to the Minister of Finance , 
National Planning , and Trade of Seychelles , H.E. Mr Naadir  Hassan to Geneva and the WTO. I would 
also like to congratulate the team of the Permanent Mission of Seychelles in Geneva for  their efforts 
in the first Trade Policy Review .  
4.177.   The ACP Group is confident that this watershed moment in Seychelles ' history, after acceding 
to the WTO in 2015, and its active and important dedication in Geneva at the WTO, most notably in 
its presence in the long negotiations on the Fisheries Subsidies Agreement leading  up to MC12.  
4.178.   Seychelles has witnessed a strong trajectory of economic reforms and transformation. These 
have been a result of the government policy and resilience of the people against the backdrop of the 
COVID -19 pandemic, climate -change and geopolitical crises. One such commendable example of 
government response reflected in the reports is the Financial Assistance for Job Retention (FA4JR) 
plan that has sustained living standards during the pandemic. In addition, swift immuni zation plans 
against COVID -19 reopened Seychelles to the world again and returned tourist arrivals to the 
country. We also acknowledge the National Tourism Service Excellence Programme in managing 
supply -demand sources of the tourist industry.  
4.179.   At the same time, we applaud the commitme nt of the Government to move towards and 
explore agri, eco -friendly tourism. This move will encourage sustainability and also drive its ' niche 
brand in world markets.  
4.180.   The ACP Group also welcomes the Seychelles Blue Economy strategy and the introduction of  
the aquaculture sector. Regulations and policy -making on such matters will increase quality of fish 
exports and drive stronger understanding of export markets.  
4.181.   With increased trade, we also recogni ze the changes being driven in Trade Facilitation and 
Ease of Doing Business regulations. The development of investment portals is one of the examples 
of driving investment to the country by encouraging transparency. The ACP  Group also notes the 
progress made in meeting Category  A and Category  B commitments made  under the TFA and 
welcomes the finali zation of Category  C commitments such as the Single Window by 2023. These WT/TPR/M/433 • Seychelles  
 
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  reforms shall make it easier for traders to access global markets. We shall also wait for the results 
of the first comprehensive review of the n ew Customs Management General Regulations (CMR) to 
improve customs processing at ports.  
4.182.   Seychelles ' willingness to strengthen global trade and partnerships is evident by its 
meaningful quest to deepen multilateral and regional agreements. The work done to wards acceding 
to the Government Procurement Agreement, establishment of National Enquiry Points and creation 
of the National Trade Facilitation Committee are efforts in the right direction. We also take note of 
its participation and engagement with SADC, Interim Economic Partnership Agreement with the EU 
and an EPA with UK. We believe these will strengthen confidence in the Government and improve 
its position in global trading arrangements.  
4.183.   We wish success to our member, Seychelles, in its economic transf ormation and changes. 
We are also confident that the participation of Seychelles in global trade will further the country 's 
economic development goals.  
ZIMBABWE  
4.184.   Zimbabwe joins others in congratulating the Republic of Seychelles, for bringing its trade 
policies and practices for review by this august multilateral trade body. I would also like to thank 
you Ambassador Ángel Villalobos for the leadership you have continued to give in the Trade Policy 
Review Body.  
4.185.    Similarly, we welcome Ambassador Jos é Sánchez -Fung, discussant for this inaugural Trade 
Policy Review of Seychelles. We also applaud the constructive interaction and engagement we enjoy 
with Ms  Veronique  Brutus here at the WTO.  
4.186.   Honourable Minister, we commend you for your comprehensive Report an d note that during 
the period 2015 -2019, your country 's trade policies focused on promoting and enhancing the 
multilateral trading system, improving regional and bilateral trade collaboration and promoting the 
role of government as facilitator and the priv ate sector as drivers of sustained growth and prosperity 
of the people. This is highly commendable and is testified by your country 's active engagement in 
various bodies that include acceding to the WTO on 20  April 2015 and SADC Protocol on Trade, 
African Continental Free Trade Area and COMESA among others.  
4.187.   We note that the challenges brought about by the COVID -19 pandemic, impacted negatively 
on your country 's economy, which relies on tourism, but this has not prevented your Government 
from meeting its obl igations under the WTO  Agreement . 
4.188.   Zimbabwe and Seychelles share the same development aspirations as members of the same 
regional and continental economic bodies, SADC Protocol on Trade, COMESA, the African Continental 
Free Trade Area and the Economic Partn ership Agreement with the UK. We enjoy cordial bilateral 
relations and even though our trade is still low in terms of value, we stand ready to deepen our trade 
relations within SADC and in the context of the African Continental Free Trade Area. There is in deed 
huge scope for Zimbabwe and Seychelles to broaden trade in value -added products.  
4.189.   Our tourism sectors were heavily impacted by the COVID -19 pandemic due to travel 
restrictions and it is important that we both work hard to rebrand our products under th is sector.  
4.190.   Honourable Minister, Zimbabwe commends the developments and policy actions in your 
fisheries sector, in particular the expansion efforts that have resulted in the creation of new jobs 
and stimulated other sectors notably agriculture among others . We look forward to deepening trade 
exchanges in the different areas for the mutual benefit and the prosperity of our people.  
4.191.   In conclusion , Zimbabwe commends the Seychelles for its commitment to regional economic 
integration and to the WTO. We therefore  wish your country success in this inaugural Trade Policy 
Review.  
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  BRAZIL  
4.192.   We would like to welcome the delegation from Seychelles, headed by H.E . Mr Naadir  Hassan, 
Minister of Finance, National Planning , and Trade, and extend our greetings to its representatives in 
Geneva, here represented by Ms  Veronique  Brutus, Chargée d' affaires in the Permanent Mission of 
Seychelles.  
4.193.   Brazil congratulates the Government of Seychelles for engaging in its first Trade Pol icy 
Review. We thank the Government of Seychelles for providing Members with an overview of the 
country 's economic performance, trade policies and adherence to the multilateral trading system.  
4.194.   We would also like to express our appreciation to the WTO Secre tariat for its thorough and 
comprehensive Report, as well as to you, Chair, and the discussant, Dr  José R. Sánchez -Fung 
(Dominican  Republic), for your contribution to a successful trade monitoring exercise.  
4.195.   Brazil attaches great importance to trade policy  reviews, in the understanding that they 
contribute to enhance transparency and predictability for trade stakeholders. The C OVID -19 health 
crisis and its impact on the global economy are additional elements that reinforce the relevance of 
this kind of exer cise. 
4.196.   In this regard, while acknowledging that Seychelles ' level of growth and other economic 
indicators have been affected by the COVID -19 pandemic, particularly in 2020, we commend the 
country for its high GDP rates between 2015 and 2021.  
4.197.   It is remarkab le that Seychelles has the highest GDP per capita in Africa. It should be 
extremely proud that it is the only country in the region classified by the World  Bank as a 
high-income one. We sincerely hope that Seychelles ' economic figures can improve even more  in 
the coming years, with positive spill -over effects to the whole African continent.  
4.198.   It is worth noting that the Blue Economy is a cross -pillar in Seychelles ' internal policies and 
international practices. It is our belief that Seychelles ' rich marine r esources can and will be key to 
promoting sustainable development and fighting climate change both in the country and worldwide.  
4.199.   Moving on to WTO issues, Brazil notes with satisfaction the accession itself, after 20  years 
of negotiations. Having Seychelles  in our multilateral trading system contributes to reinforcing 
economic multilateralism , while also provides the bases for its trade policy to achieve its goals of 
building a diversified, more resilient and open economy that is fully integrated globally.  
4.200.   Regarding our bilateral relations, it is worth noting that trade flows between Brazil and 
Seychelles grew by almost 17  times between 2005 and 2014. We see potential to perform such 
positive figures again, especially on the services sector, under the auspice s of the Agreement on Air 
Services, signed in 2015 by our countries and currently under internal process of ratification in Brazil.  
4.201.   Brazil wishes the delegation of Seychelles a successful conclusion of its first Trade Policy 
Review.  
TANZANIA  
4.202.   The United  Republic of Tanzania welcomes H.E. Mr Naadir  Hassan , Minister of Finance, 
National Planning , and Trade , and his delegation that have come from capital to participate in the 
Trade Policy Review Mechanism here in Geneva. My delegation is pleased to be  part the first Trade 
Policy Review of Seychelles . 
4.203.   The United  Republic of Tanzania enjoys the bilateral and regional  trade relation with 
Seychelles for long time. Seychelles is well -known for being categorized by the World  Bank as one 
upper -middle  income c ountries in the African continent, and this is commendable. My delegation 
would like to congratulate the Government of Seychelles for such a progress achieved. However, 
Members still need to understand that Seychelles is one small and vulnerable econom ies.  
4.204.   My delegation appreciates the efforts  which have been made by the Government of 
Seychelles in fulfilling the bilateral regional and multilateral obligations, including the WTO.  WT/TPR/M/433 • Seychelles  
 
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  4.205.   Seychelles still depends v ery much on tourism and fisheries , which exp ose the country to 
the external shock s and vulnerabilities.  This was vividly  manifested during the C OVID -19 pandemic 
where the countries  suffered immensely . 
4.206.   However, my delegation commends the Government of Seychelles for its efforts to diversify 
the economy, particularly to other  services sector.  
4.207.   Lastly, I would like to associate this statement to the statements delivered by Cameroon on 
behalf of the African  Group, and Kenya on behalf on the ACP  Group.  
4.208.   The delegation of the United  Republic of Tanzania wishes all the best to the delegation of 
Seychelles on its first Trade Policy Review.  
NAMIBIA  
4.209.   We join others in congratulating Seychelles and the WTO Secretaria t for their comprehensive 
reports on Seychelles first TPR.  
4.210.   My Delegation further extends a warmly welcome H.E. Mr Naadir  Hassan, Minister of 
Finance, National Planning , and Trade of Seychelles, and his esteemed delegation to this TPR 
session.  
4.211.   In addition , thank  to H.E. Ambassador  José R. Sánchez -Fung (Dominican  Republic ) for his 
insightful remarks as the discussant for Seychelle s' first Trade Policy Review.  
4.212.   On RTA 's, Seychelles as member of SADC, share the same ambition with Namibia towards 
the implementation of the SADC Industrialization Strategy and Roadmap for 2015 -2063. The 
strategy which is anchored on three  pillars namely; industrialization as champion of economic and 
technological transformation; competitiveness as an active process to mov e from comparative 
advantage to competitive advantage; and regional integration and geography as the context for 
industrial development and economic prosperity.  
4.213.   The Strategy 's long -term Vision is aligned to the African Union Agenda 2063, covering the 
period 2015 -2063. It is envisioned that by 2063, the SADC region will be fully transformed and will 
be an important player in the continental and global landscape, premised on the three growth phases 
mentioned above.  
4.214.   In addition, Namibia and Seychelles are am ong the members of the African Continental FTA, 
with common objectives which includes following:  
4.215.   Create a single continental market for goods and services, with free movement of 
businesspersons  and investments, and thus pave the way for accelerating the es tablishment of the 
Continental Customs Union and the African Customs Union . 
4.216.   Expand intra -African trade through better harmonization and coordination of trade 
liberalization and facilitation regimes and instruments across RECs and across Africa in general, 
amongst others.  
4.217.   The efforts by Seychelles under its National Development Strategy for 20 19-2023 which 
guides measures to deal with the most critical, challenges facing the country are commendable. 
Specifically, on ensuring that Seychelles remains a champion in the regional and global arena when 
considering its commendable reputation for susta inable environmental management and 
conservation efforts. In addition, increasing our economic resilience and maintaining macroeconomic 
stability.  
4.218.   On the recent  economic developments, captured in the Secr etariat 's Report , we note the 
economic growth annua l rate of 4.4%, during the 2015 -19 period, which was driven primarily by 
significant tourist earnings and strong output in the fishing industry.  
4.219.   We also take note of the challenges due COVID -19, which in our view are not unique to 
members of our group. On  the implementation of the Trade Facilitation Agreement, we share similar WT/TPR/M/433 • S eychelles  
 
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  challenges which includes the establishment of the National Single Window and the implementation 
of Categories  B and C.  
4.220.   On the Trade Policy objectives, we commend Seychelles in build ing a diversified, more 
resilient, and open economy that is fully integrated into global markets. As reflected in the steady 
progress made in the implementation of its WTO Membership obligations since its accession in 2015.  
4.221.   In conclusion, Namibia is commit ted to working with Seychelles in the implementation of the 
Trade Agreements to which we are party to, in addition takes this opportunity to wish the 
Government of Seychelles a very successful first Trade Policy Review.  
EGYPT1 
4.222.   Egypt would like to join the previous speakers in extending a very warm welcome to the 
delegation Seychelles led by H.E.  Mr Naadir  Hassan , Minister of Finance, National Planning , and 
Trade . We commend you, Excellency, and your distinguished delegation on t he hard work you have 
done in the preparation of your first Trade Policy Review and congratulate you on a successful 
completion.  
4.223.   We would like also to express our appreciation to the Government of Seychelles as well as 
the WTO Secretariat for their compreh ensive Reports and we thank H.E.  Dr José R. Sánchez -Fung 
(Dominican  Republic) , who assumed th e role  of the discuss ant. 
4.224.   Egypt commends the efforts made by the Government of Seychelles to achieve sustainable 
development and economic growth and improve its fo reign investment environment, these efforts 
have led Seychelles to be the highest GDP per  capita in Africa, making it the only country in the 
region classified by the World  Bank as a high-income  country . Despite the unstable international 
economic and trad e environment, the country managed to achieve an average GDP annual growth 
rate of 2.4% during 2015 -2021. It has taken several steps to deal with its sustainability challenges 
and ensure a  resilient and sustainable development, including through the launch  of its National 
Climate Change Policy in 2020, as well as the National Policy Strategy Vision 2 033. 
4.225.   In addition , Seychelles has proven its commitment to the multilateral trading  system , it has 
made steady progress in the implementation of its obligation  under WTO since its accession in 2015 
and have participated actively in regional trade  initiatives.  
4.226.   Egypt shares  with Seychelles excellent bilateral of its relations as well as several re gional 
agreements, namely the COMESA  Free Trade Area, the AfCFTA , and the Tripartite Free Trade Area . 
4.227.   In May  2022 Seychelles had submitted a  notification  to the WTO on its accession to COMESA 
in 2009. By joining the COMESA , Seychelles grants duty free and quota free treatment to all i mports  
originated from other F TA parties , except for a limited number of tariff lines , less than 2% of the 
total, that are either excluded or subject to a reduced rate.  
4.228.   Egypt commends the schedule of specific commitments submit ted by Seychelles during the 
first round of COMESAS's trade  in services n egotiations . This  schedule was revised in 
December  2021, in several matters such as business services, construction , and other sub -sectors 
related to it . 
4.229.   In conclusion, Egypt congratulates the delegation of Seychelles on a successful Trade Policy 
Review . Finally , Egypt ali gns itself with the statement delivered by the African Group . 
  
 
1 Statement delivered during the second d ay of the meeting.  WT/TPR/M/433 • Seychelles  
 
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  5  REPLIES BY THE REPRESENTATIVE OF SEYCHELL ES AND ADDITIONAL COMMENTS  
5.1.  I wish to thank you and the discussant, H.E. Ambassador Dr  José R. Sánchez -Fung, for the 
detailed comments and interesting questions. I wish to also place on record our thanks and 
appreciation to all the Members who have constructively participated in the first  Review of our trade 
policies and practices. We further thanked all those Members who submitted advance written 
questions on the Secretariat and the Government Reports, all of which have been promptly 
addressed.  
5.2.  The review process has provided an excellent  opportunity to review the main developments in, 
and challenges of, Seychelles' trade and investment policies since its accession to the WTO in  2015. 
We are gratified by the general acknowledg ement  by Members that Seychelles has made significant 
progress s ince its accession. This shows that our hard work has paid off and that we should continue 
on the same track.  
5.3.  Despite the challenges faced during the review period, Seychelles' economic performance has 
been remarkable. We note, in particular, the recent economic performance, which has been 
especially impressive following Seychelles' rapid recovery after the height of the pandemic.  
5.4.  As highlighted by several Members on Monday, the effective measures implemented by the 
Government have borne their fruits, with Seychelles on an apparent recovery path, with better than 
forecasted tourism earnings and on track with its ex ternal debt payments. With an expected GDP 
growth of 7.1 % for 2022, the positive economic performance of Seychelles has been recognized by 
the International Monetary Fund (IMF) in its recent Article  IV Consultation report and by international 
rating agenci es.  
5.5.  We noted with appreciation the recognition by several Members of the efforts made by 
Seychelles on its diversification strategy to decrease its reliance on its dominant economic sectors, 
tourism, and fisheries.  
5.6.  Let me firstly address the questions raised by the discussant on Monday  
5.7.  Question  1. Given that mac roeconomic stability is a necessary condition for sustainable 
economic progress and to help in consolidating the country's effort to implement a market -based 
(indirect) monetary policy since 2019 . Is the Central Bank of Seychelles contemplating formal 
supplementary communication tools to help market participants in forming expectations about the 
expected evolution of the economy?  
5.8.  Currently, CBS holds a press conference at the end of every quarter following the Board 
meeting on the monetary policy stance for  the upcoming quarter. In addition, press  communiqués 
in English and Creole are published on the website, providing details of the assumptions underlying 
the decision taken. Moreover, in between the monetary policy press conferences, CBS presents 
updates o n recent economic developments which encapsulates domestic and external factors. In 
July 2022, CBS issued its first Monetary Policy Report with the aim of enhancing the provision of 
information to local and international audiences on the various elements e xamined and considered 
in the formulation of monetary policy. It is anticipated that the report will be published bi -annually, 
in January and July.  
5.9.  With regards to the availability of statistics, CBS conforms with the Special Data Dissemination 
Standards (SDDS) to ensure reliable financial and economic indicators are available on a regular and 
timely basis. In line with the aforementioned, an Advanced Release Calendar is published on the 
website.  
5.10.  Question 2 . In the light of the vuln erability deriving from its geographical location and 
territorial size: Is there scope for diversifying the economy to place it in a better position to confront 
adverse external shocks?  
5.11.  External shocks will remain a constant reality for Seychelles, given t hat we import nearly all 
of our energy needs and over 80% of our nutrition needs. It is also highly unlikely  that we will be 
independent on either should current trends persist. However, in light of the pandemic and the 
Russia n Federation -Ukraine war, the need to mitigate the impact of shock events are now even more WT/TPR/M/433 • S eychelles  
 
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  urgent. Given the current  global landscape, black swan and ripple effects are likely to become more 
frequent and more so factoring in climate change. Whilst the pandemic illustrated the impact o f 
closing our borders to the services sector, the war has thus far further opened our eyes to the risks 
of food insecurity, shipping dynamics and income inequality amongst others. Thus, this requires a 
reassessment of our generational policies given that t hings may worsen with the recent status quo.  
5.12.  Nevertheless, we acknowledge that while tourism will remain our key economic activity in the 
short to medium run, it is vital that diversification, coupled with more targeted and sustainable fiscal 
policies, in creased efficiency and technological inputs are needed in an accelerated manner. This 
position is made clear when considering that public increased by 30% of GDP in light of the pandemic 
in 2020 to stand at 85% of GDP, yet by 2022, it had declined to 65% o f GDP. In short, one -off 
shocks need to be assessed differently moving forward.  
5.13.  While the new Government 's first objective was short run macroeconomic stability, facilitated 
by the rapid vaccination and risk management approach in opening our borders, dive rsification is 
now high on the agenda. It is clear, given our specificities that this will require not only careful 
planning given the limited resource base, but it needs to also be mindful of our political and 
generational commitments.  
5.14.  In brief, diversifi cation is not a choice for Seychelles but rather a must owing to our long -
standing  challenges and the need for greater fiscal space for climate change adaptation. Therefore, 
as part of the country 's National Development Strategy – we have prioritized the T ransformative 
Economic Agenda, whereby the country has identified five sectors , not only for economic 
diversification but areas whereby increased efficiency and promotion of the circular economy will 
mitigate the impact of our risks. The TEA only forms par t of the Government 's priorities with 
supporting factors behind its success including a more efficient public service, human resource 
planning and of course, how do we better integrate technology within our economy.  
5.15.  Question 3 . Considering the central rol e of the natural environment for long -term economic 
development, particularly for a small island . Is Seychelles expecting to explicitly monitor topics at 
the intersection of trade and environment in its national policy strategy -Vision  2033? What are the 
challenges to successfully pursue that objective?  
5.16.  The new Cabinet reaffirmed its commitment to Vision  2033 and its overarching objectives, 
towards attaining the "Garden of Eden " scenario. It remains very ambitious  and perhaps more so 
given that the document  was drafted in 2018, thereby excluding recent events. Whilst the document 
is not explicit on trade and its interlinks with environment, it is fairly evident that the scenario is a 
successful outcome of the mechanism of diversification.  
5.17.  This however, requires strong planning commitments, mindful of considerations across time. 
As an example of the challenge ahead, a strong private sector is a key factor behind the scenario 
but that cannot be achieved without aligning education needs all the whi le ensuring related factors 
such as the ease of doing business, sustainable investment opportunities and short run externalities 
of economic diversification (e.g energy intensity, land use, polluters rights etc) are better 
understood.  
5.18.  Nonetheless, the chal lenges highlighted within the document remain and perhaps have 
magnified in light of the two recent shocks. This must be taken into consideration.  
5.19.  A key challenge linked to the "trade and environment " intersection, would be the challenge 
relating to conse rvation balance. In recent times the government through the marine spatial 
planning initiatives, championing the MVI, reaffirming its commitments at COP  27 and many others 
green initiatives, remains committed to the environmental cause. However, how should  this position 
be assessed in light of the new economic realities? Insufficient progress has been for financing 
climate change adaptation, global public debt has increased, food and security have worsened. We 
are also seeing the impact of stagnant wage gro wth, rising interest global interest rates and inflation. 
Across time, we stand to be impacted more than most.  
5.20.  As a small island developing state (SIDS), Seychelles  mirrors  the challenges typically faced 
by countries classified in this manner. L ack of nat ural resources, limited scope for economic 
diversification, and heavily reliant on the rest of the world, making it highly susceptible to external WT/TPR/M/433 • Seychelles  
 
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  shocks that might negatively impact the good progress of the country. This was evident during the 
COVID -19 pa ndemic, which affected Seychelles' economic performance, particularly the tourism 
sector, the main pillar of Seychelles' economy. This reality underscores the need for special and 
differential treatment (SDT) in the WTO to be maintained and, where possible , enhanced, given the 
unique circumstances many WTO Members face.  
5.21.  Several Members highlighted the active participation of Seychelles at the WTO level, and we 
have heard calls for Seychelles to continue to play an active role in the WTO. The importance that  
Seychelles attached to the multilateral trading system was also acknowledged by several Members 
and Seychelles' excellent notification records were further highlighted.  
5.22.  We noted further calls by some Members for Seychelles to become more active in the WTO  
Committee on Trade Facilitation  and for Seychelles to make known its technical assistance needs to 
the Trade Facilitation Committee to raise awareness with international development partners.   
5.23.  Some Members have additionally invited Seychelles to join other Joint Statement Initiatives 
(JSIs), such as the JSI on Trade and Environmental Sustainability Structured Discussions (TESSD) 
and E-Commerce.  
5.24.  Some Members also encouraged Seychelles to consider elevating its status as an observer to 
become a party to  the Government Procurement Agreement (GPA).  I wish to underline the following . 
5.25.  Seychelles' accession to the GPA, as highlighted in my opening statement and the Reports, 
the review process of the Seychelles Public Procurement Act, 2008 is still ongoing, as  well as the 
Review of the internal structure of the Procurement Oversight Unit. Subject to the Review, Seychelles 
expects to finali ze this process by the end of the year 2023. Once again, we hope that Seychelles 
may accede to the GPA in good time and in the most orderly manner.  
5.26.  Concerning joining other JSIs, we would endeavour to conduct an internal assessment of the 
possibility of pa rticipating in some JSIs where practicable.  
5.27.  Regarding trade facilitation , we take note of the request to submit our technical assistance 
needs; we will assess areas where we need technical assistance and submit our request in due 
course.  
5.28.  We also note Membe rs' concerns regarding Seychelles' outstanding notification. We will 
endeavour to fulfil our obligation to the fullest by the end of 2023.  
5.29.  While Seychelles stays committed to the work of the WTO, we would like to underscore that 
as a small island developin g state (SIDS), we face capacity constraints both in Geneva and in the 
capital that can hinder our effective participation and engagement at the WTO.  
5.30.  Seychelles recogni zes the need to strengthen cooperation and deepen its Trade and economic 
ties with its trading partners and other WTO  Members. On that note, we welcome the wishes of 
several members to enhance the existing cooperation between Seychelles and their respective 
countries. We also welcome some Members' interest in working closely with Seychelles in different 
areas, such as the digital economy.  
5.31.  Before concluding, I wish to again reiterate our thanks to the Secretariat, the discussant, and 
WTO Members for their constructive remarks and comments.  
5.32.  I want to re -emphasize Seychelles' unflinching commit ment to this Organi zation's objectives 
and a non -discriminatory, open,  fair, inclusive, equitable, and  transparent multilateral trading 
system. We shall continue to engage constructively in the work of the WTO.  
5.33.  Again, we express our gratitude to the WTO Secretariat and other international organi zations 
for providing all -important technical capacity -building and assistance to Seychelles officials. 
However, we recognize there is always a need for further training and capacity -building – particularly 
for our government  officials. And on this note, we thank the Members who have expressed their 
wish to work closely with Seychelles to address its technical assistance and capacity -building needs.  WT/TPR/M/433 • S eychelles  
 
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  We call on Members in a capacity to support Seychelles in its technical assistance, and 
capacity -building needs to approach us for further discussion.  
5.34.  Finally, I would like to invite the WTO Secretariat to visit Seychelles to present the results of 
the Review to the various stakeholders.  
DICUSSANT  
5.35.  During the last th ree days Seychelles has shown a firm commitment to complying with the 
expectations deriving from its WTO Membership. We are much more knowledgeable about the 
country 's trade policy and practices. The Trade Policy Review Exercise reveals that Seychelles wil l 
be able to confront the many challenges discussed in the context of this landmark exercise in 
transparency.  
5.36.  In this context, the Secretariat 's Report will be a valuable reference for Seychelles and the 
rest of the WTO 's community. There are clear advance s since Seychelles joined the Organization . 
Meeting the outstanding obligations will contribute not only to Seychelles, but also to the depth of 
the global trading system.  
5.37.  The wide range of questions, in advance of the Review and during the meetings this week, 
reflect the importance of Seychelles for the global economy. Diversification is a much -debated topic 
in development economics but designing and implementing the relevant policies is complicated. In 
that regard, the country 's plans in Vision  2033 are commendable.  
5.38.  Allow me to emphasize on the importance of macroeconomic stability as a pre -condition for 
international trade to flourish and contribute to sustainable economic growth and development in 
Seychelles. Ensuring fiscal policy sustainability is cri tical, but a small -island economy 's inherent 
fragility is a latent threat. Monetary policy in Seychelles is in the right direction; however, 
consolidating the monetary authorities ' credibility with the public will be an ongoing task. Therefore, 
policy make rs can never be too vigilant.  
5.39.  I am grateful for the opportunity to contribute as discussant in this Trade Policy Review -it 
stimulated reflection about my country 's economy, as we have common features. I wish Seychelles 
every success in the road ahead. The efforts will be rewarded with prosperity for its citizens and will 
contribute to a better global economy for all.  
UNITED  STATE S  
5.40.  The United  States would like to thank Seychelles  for your Government's dedication and effort 
in carrying out a succe ssful Trade Policy Review . The United  States  also values  the guidance of the 
Chair and the discussant, and the hard work of the Secretariat in preparing th is report, which made 
the Review possible.  
5.41.  The United  States  submitted a number of written questions to Seychelles , and we appreciate 
the written responses that we received . We also appreciate the amount of time and hard work that 
went to preparing these responses, particularly as we are in the mid of preparing for our own TPR 
later this month . The inform ation that you have provided will be helpful to us to continue to engage 
with the Seychelles bilaterally and at the WTO.  
5.42.  We recognize Seychelles'  efforts towards coming into compliance with notification obligations, 
we would be glad to learn more about the  challenges Seychelles has  faced with regard to notifications 
with a view to working together to improve the process . 
5.43.  Seychelles has clearly demonstrated a commitment to the multilateral trading system and 
acceptance of the guiding values and principles of  the WTO.  
5.44.  Seychelles may be a relatively new Member of the WTO but it is clear to us that Seychelles 
has a valuable perspective and meaningful voice to add to the multilateral conversation.  
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  NIGERIA  
5.45.  Nigeria wishes to thank the entire delegation of Seychelles for the successful conduct of its 
first Trade Policy Review. We also thank the head of the delegation and the discussant for their 
comments and the responses to the questions posed by Members.  
5.46.  Permit me to commend both, Seychelles delegation and  WTO Secretariat for the Reports, 
which reflect an excellent overview of the Seychelles trade and economic policies, and progress 
made following its accession in 2015, focusing on  promoting and enhancing the multilateral trading 
system , improving regional and bilateral  trade collaboration, and reflecting the Government's role 
as a facilitator  and the private sector as driver of sustained growth and creator of wealth . 
5.47.  We also note that the Seychelles' financial  services sector  is the  third pillar of the econ omy 
alongside the tourism and fisheries sectors.  During the econom ic hardship  of the global pandemic , 
the financial services sector continued to actively contribute to the economy.  From the period of 
January and March the FSA injected  about USD 35 million in foreign exchange as dividends to the 
government  becoming one of the highest  dividend  contributors  to the Government, which bolstered 
its total contribution  of USD 150 million by  an end of 2021.  
5.48.  We applaud Seychelles G overnment for provid ing food security and  mitigate the financial 
impact o f the pandemic on businesses and individual s, which was done through the provision of the 
Financial Assistance for Job Retention (FA4JR) initiat ive which  guaranteed  the salaries  of employees 
and self -employed people impacted by the pandemic.  
5.49.  The Government equally assisted the agricultural sector during the COVID -19 pandemic , in 
maintaining the cost of livestock transportation  subsidies, to livestock  producers . 
5.50.  We note also the efforts of the Government of Seychelles towards making the country 
conducive for businesses, to attract sustainable investment, improve competitiveness, and growth.  
through various  restructuring and chan ges within  the Government which impacted the entity that 
has an oversight role  in the investment climate.  
5.51.  It is equally gratifying to note how the country places importance  on the promotion of the  
multilateral trading system.  This first Trade Policy Review  Exercise remains  testimony of the 
country's effort in the compliance with its WTO commitments via implementation of its obligations 
under its trade agreements in WTO and other trade partners.   
5.52.  In conclusion, Nigeria would like to , once again, acknowledge the efforts of Seychelles' 
Government for the different initiatives, economic and trade policies, programmes and projects 
reform. My deleg ation will continue working closely with the Geneva -based delegates of Seychelles 
in many comm ittees of shared interest.  
5.53.  We once again congratulate the entire delegation of Seychelles, and we wish them a successful 
first Trade Policy Review.  
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  6  CONCLUDING REMARKS BY THE CHAIRPERSON  
6.1.  The first Trade Policy Review of Seychelles has offered us a good op portunity to deepen our 
understanding of recent developments in, and challenges to, its trade, economic, and investment 
policies since its WTO accession in 2015. I would like to thank the Seychellois delegation, led by 
H.E. Mr Naadir  Hassan, Minister of Fi nance, National Planning , and Trade, for the active participation 
in this exercise. My gratitude also goes to our discussant, H.E.  Dr José Sánchez -Fung, Ambassador 
and Permanent Representative of the Dominican  Republic, for his insightful comments and to 
the 24 delegations that took the floor during this meeting.  
6.2.  Members commended the resilience and growth performance of the economy of Seychelles 
despite the global economic turmoil caused by the COVID -19 pandemic. They praised the timely 
adoption of suppor t measures that allowed the economy to rebound quickly, but also indicated that 
as a small island state with limited scope for diversification, the economy of Seychelles is extremely 
vulnerable to external shocks and exposed to the risks posed by climate c hange. In this regard, 
Members congratulated Seychelles for launching its National Climate Change Policy, and its Blue 
Economy strategy, including the first ever issuance of the Blue Bond. These strategies aim at making 
maximum use of Seychelles' resources  in the most sustainable manner possible.  
6.3.  Seychelles was praised for having made steady progress in implementing its WTO accession 
commitments and for its active and constructive role in the multilateral trading system. In particular, 
Members appreciated S eychelles' acceptance of both the Agreement on Trade Facilitation and the 
Protocol Amending the TRIPS  Agreement , and for participating in the Joint Statement Initiative on 
Investment Facilitation for Development. Nonetheless, Seychelles was encouraged to a pply for 
accession to the Agreement on Government Procurement as provided for in its WTO accession 
commitments and to take part in other Joint Statement Initiatives in the areas of E -Commerce and 
environment. Members also requested Seychelles to submit out standing notifications. Some 
delegations mentioned that Seychelles has four regional trade agreements in operation, including 
one with the European  Union. During the review period, Seychelles concluded and implemented the 
Economic Partnership Agreement with the United  Kingdom and was actively engaged in various 
overlapping trade negotiations with other African economies, notably on the SADC Free Trade Area, 
the COMESA Free Trade Area, as well as the African Continental Free Trade Area and Tripa rtite Free 
Trade Area.  
6.4.  Members also congratulated Seychelles for its open trade regime, with one of the lowest MFN 
average applied tariffs among WTO Members (2.7% in 2022). In the area of investment, Members 
also commended Seychelles for the steps taken t owards further enhancing its foreign investment 
regime, notably by introducing a positive listing approach of activities open to FDI. Seychelles, 
however, was encouraged to remove its remaining foreign investment restrictions in sensitive 
sectors such as t ourism, transportation, and recreational services, and to further promote 
competition in the economy so as to increase productivity and reduce costs.  
6.5.  At the sectoral level, Members recognized the key importance of tourism and fisheries activities 
for Seych elles' economy and trade. Regarding tourism, questions were asked, inter alia, about the 
environmental policy to market Seychelles as a zero -carbon footprint destination, and about the 
moratorium on the construction of large hotels. With respect to fisheri es, questions were raised on 
the development of aquaculture as part of Seychelles' diversification efforts. Members also expressed 
interest about Seychelles' financial, telecoms and transport services.  
6.6.  Other areas of interest to Members included the imple mentation of a single window for 
customs; import licensing; impact of the Fair -Trading Act 2022 on international trade; participation 
of the private sector in the development of standards; international trade zones; incentives schemes, 
including those intr oduced during the pandemic to support micro, small, and medium -sized 
enterprises (MSMEs); environmental and digital objectives; gender issues; various aspects of the 
intellectual property rights regime; and energy policy and its commitment on using only re newable 
energy by 2050 under the Paris  Agreement. Some Members also invited Seychelles to make its 
technical assistance needs known, including those related to trade facilitation.  
6.7.  The above points are some of the key issues that had emerged in our discussi on. I hope that 
the Seychellois delegation will consider and further reflect on these issues and on the many 
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  look forward to receiving the answers from Seychel les to any outstanding and follow -up questions 
within one month, at which point the Review will be successfully concluded . 
 
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