10.20.14

Seychelles accepts Terms of WTO Accession

Posted in Bilateral Treaties, Business and Economy, International Organisations, International relations at 12:26 pm by Robert Klien

Following the negotiations aimed to accede the WTO, on October 17, 2014, the terms of Seychelles’ accession to the World Trade Organization (WTO) were agreed, whicj concluded 18 years of negotiations.

Seychelles’ draft accession package contains its market access concessions and commitments on trade in goods. It is to be formally approved by all 160 WTO members, who meet in December 2014.

As part of the accession negotiations, Seychelles concluded 8 bilateral agreements on market access for goods (with the European Union, Switzerland, Canada, Japan, Mauritius, Oman, South Africa, and Thailand). It has undertaken tariff concessions and commitments that “bind” tariff rates for all products on average at 9.5%. For agricultural products, this average is 16.9%, while for non-agricultural products the average is 8.3%.

Upon accession, the Seychelles has also committed to join the Information Technology Agreement (ITA), the WTO plurilateral agreement providing for the complete elimination of import duties on certain IT products between signatories.

WTO Director-General Roberto Azev√™do said: “I welcome the hard work undertaken by WTO members and the Government of Seychelles to complete this accession process. It is particularly timely as the world is marking the International Year of Small Island Developing States. The WTO provides a vital platform for small economies like Seychelles to make their voice heard at the global level.”

10.07.14

Seychelles year-on-year inflation rate at 0.6% in September

Posted in Seychelles' statistics at 11:39 am by Robert Klien

According to the official data, Seychelles inflation rate was 0.6% in the year to September, compared with 0.8% in the year to August.

On a month-on-month basis, the inflation rate in the jurisdiction archipelago was 0%, the National Bureau of Statistics (NBS) said in a statement.