04.28.15

Seychelles enters WTO as 161st member

Posted in Bilateral Treaties, Business and Economy, International Organisations, International relations, Seychelles government at 6:22 pm by Robert Klien

On April 26, 2015, Seychelles became the 161st member of the World Trade Organization (WTO).

Welcoming Seychelles’ membership, Director-General Roberto Azev√™do, said: “I am delighted to welcome the Republic of Seychelles as the 161st member of the WTO. This is great news for Seychelles’ economy and, therefore, for the people of Seychelles. It is also a boost for the WTO and a vote of confidence in the Organization, as we redouble our efforts to complete the Doha Round of negotiations.”

Seychelles President James Michel signed the Instrument of Acceptance of the country’s Accession Protocol on March 25, 2015, confirming its membership terms.

It is worth noting that accession negotiations had lasted for 20 years. As part of these negotiations, Seychelles concluded 8 bilateral agreements on market access for goods. It has undertaken to “bind” average tariff rates for all products at 9.5%. For agricultural products, this average is 16.9%, while for non-agricultural products the average is 8.3%.

Comments are closed.