08.10.08
Posted in International Organisations, International relations, Seychelles government at 5:38 pm by Robert Klien
On July 10, 2008, the 8th Session of the Seychelles-Mauritius Commission on Bilateral Cooperation (SMCBC) ended. As a result, both Governments agreed to support each other and strengthen cooperation in order to boost bilateral relations.
The Seychelles delegation was led by the Minister for Foreign Affairs, Patrick Pillay, while the Mauritian delegation was represented by the Deputy Prime Minister and Minister of Finance and Economic Development, Dr Rama Sithanen.
The two countries have agreed that they will cooperate in the following areas:
- Regional Cooperation. Regarding aid for Trade and Economic Partnership Agreement, Seychelles and Mauritius have agreed to facilitate a strategic partnership between the two sides by the networks the countries are building, including the EPA with the EU and membership in both COMESA and SADC;
- COMESA Fund. Mauritius invited Seychelles to join the COMESA Fund in order to build a strategic relationship between the two sides, as well as to benefit from regionalisation and globalisation initiatives underway;
- Regional Multidisciplinary Centre of Excellence. Seychelles requested the support of Mauritius to set up a University in Seychelles;
- Cooperation in the fisheries sector. Seychelles and Mauritius have agreed to urgently examine the impact of the World Trade Organisation (WTO) negotiations as well as the bilateral negotiations between the EU and the ASEAN countries.
It is also worth mentioning that Seychelles Minister for Foreign Affairs, Patrick Pillay underscored the fruitful exchange programmes in banking, education, social development, tourism and fisheries between Seychelles and Mauritius.
Permalink
07.09.08
Posted in Business and Economy, International Organisations, Seychelles offshore jurisdiction at 12:53 pm by Robert Klien
In the end of June, the Minister for Finance Danny Faure said that Seychelles has officially started the process of debt rescheduling. This process aims at rescheduling and partly writing off its bilateral debt.
Details of recent approaches by the government to the Paris Club, an international grouping of financial officials from 19 of the richest countries in the world, over the Seychelles’ debt, were given to the National Assembly by Minister Danny Faure. The debt now stands at R1.15 billion.
According to Mr Faure, the money borrowed over the years through Seychelles’ bilateral relations with countries such as the United Kingdom, France, Germany, Japan, Spain, Italy, Belgium and Russia has been invested in the socio-economic development of the Seychelles.
Faure said that the President, the minister of finance, the minister of foreign affairs and other government officials have contacted institutions like the African Development Bank (ADB) and the World Bank in order to rally support for negotiation on Seychelles’ debt.
Mr Faure said that the Paris Club wants to move forward with the debt issue, but it needs an indication that the jurisdiction wants to negotiate a programme with the International Monetary Fund (IMF). The Minister also stressed that the country already enjoys good relations with the IMF. So, the process has already begun.
Permalink
05.03.08
Posted in Business and Economy, International Organisations, Seychelles government at 8:54 am by Robert Klien
Seychelles has launches a programme that is aimed at training people as regards their human rights and civil liberties.
On April 28, 2008, a 2-week workshop opened at the Police Academy. It is the 1st activities in a series under the human rights project launched to improve the skills of both governmental and non-governmental staff in this area.
The project was launched by Patrick Pillay, Minister for Foreign Affairs. Mr Pillay noted the launch of the project comes in a year when the world is celebrating the 60th anniversary of the United Nations’ Universal Declaration of Human Rights, the theme of which is Dignity and justice for all.
The whole project will last for 2 years. It is co-funded by the European Union and the United Nations Development Programme and based on an agreement signed that was signed by Seychelles in July 2006.
The project is expected to increase awareness of the great importance of human rights issues among the public. It is also hoped to strengthen respecting and adopting human rights practices by police and prison officers, while informing the judiciary, media and civil public on these issues.
Permalink
04.13.08
Posted in Business and Economy, Foreign investments, International Organisations at 11:52 am by Robert Klien
The visit by President Michel to Kuwait in February helped attract Kuwaiti investors to the Seychelles.
On April 8, 2008, three representatives of a major Kuwaiti business developer paid a visit to Seychelles’ President James Michel at State House. Later they said that they are going to make huge investments into the jurisdiction.
After discussions with the President, the managing director of the BluePrint company, Meshal Almelhem, told the local media that with assurances from the African Development Bank (ADB), the private sector represented by his firm has made a decision to invest in the African region. He said that having seen President Michel, the country and the people, he ans his colleagues from BluePrint need not look any further than Seychelles as they have understood that it is a very stable jurisdiction.
He also added the following: “We have realised that Seychelles is a goldmine and a haven for investors. There are many opportunities that will create mutual benefits for the government and the people of Seychelles and the investors as wellâ€.
BluePrint will work with the government of the Seychelles to develop potential projects in the finance, technology, and tourism as well as in other sectors.
Mr Almelhem was accompanied by Ahmed Alquraishi and Yousel Al Bader from BluePrint, and Peter Sinon, executive director of the ADB. Also, the Minister for Community Development, Jacquelin Dugasse; Secretary of State, Alain Butler Payet; principal secretary for Presidential Affairs, Jean-Paul Adam; and special adviser in the Ministry of Foreign Affairs, Vivienne Focktave, were present at the meeting.
Permalink
03.27.08
Posted in Business and Economy, International Organisations, International relations, Seychelles government at 12:22 pm by Robert Klien
The First Meeting of the Special COMESA Ministerial Sub-committee on Economic Partnership Agreement held on February 10, 2008 in Lusaka, Zambia, was attended by the Seychelles Minister of Foreign Affairs, Mr. Patrick Pillay. At the meeting, he was accompanied by his Special Adviser, Miss Vivianne Fock-Tave. Director General for Trade in the Ministry of Finance and Trade, Mr Charles Morin, also attended the meeting of COMESA Ministerial Sub-committee.
The Ministerial Sub-committee was established during the COMESA Council of Ministers in November 2007. It consists of Ministers who are responsible for the negotiation of Economic Partnership Agreements (EPA) from Seychelles, Mauritius, Kenya, Malawi, Rwanda, Zambia, Djibouti and Zimbabwe – 8 of the 16 countries that form the Eastern and Southern Africa (ESA) configuration, which are also member countries of the Common Market for Eastern and Southern Africa (COMESA).
The Ministerial Sub-committee primarily aims at overseeing the EPA negotiation process in order to ensure the progress in line with set negotiation objectives and agreed guidelines. Therefore the Sub-committee takes account of developments in the process on a regular basis and provides political advice and guidance on any issues contributing to the successful conclusion of the ESA negotiations. It also is worth noting that the Ministerial Sub-committee is a key-role player in working towards narrowing any substantial differences in the region.
At the 1st meeting in Zambia, the Sub-Committee discussed implementing the Interim Agreement and the need to convene a joint COMESA-SADC-EAC (East African Community) Meeting of Ministers responsible for Economic Partnership Agreements. Also, the negotiating structure of the ESA configuration was reviewed at the meeting in order to ensure that the EPA negotiations are both effective and efficient.
Besides the First Meeting of the Special COMESA Ministerial Sub-committee on Economic Partnership Agreement, Minister Pillay participated in the Ministerial Task Force on the COMESA Customs Union held in Lusaka, Zambia, on February 11, 2008.
It is expected that the COMESA Customs Union will be launched in December 2008.
Permalink
03.20.08
Posted in International Organisations, Seychelles government at 1:08 am by Robert Klien
Last month, the Ministry of Foreign Affairs of the Republic of Seychelles published in a press release named “Assessment of the State of Good Governance in Seychellesâ€.
According to the release, a validation workshop for the draft 2007 Report, “Assessing the State of Good Governance in the Republic of Seychelles” was organized on February 18, 2008 at the International Conference Centre, Victoria. The workshop was aimed at public, private and NGO stakeholders to collectively validate the report and after that it would be submitted to the UNECA.
The workshop concluded Phase II of the UNECA Project “Monitoring and Measuring Progress Towards Good Governance in Africa” launched in Seychelles in April 2007. Phase II included an update of the state of governance of the 27 countries (including South Africa, Mauritius, Egypt, etc.) that took part in Phase I.
The release informed the public that the exercise has been carried out by a Mauritian-based consultancy firm StraConsult with the assistance of local professionals. According to the results of an independent survey conducted by StraConsult, in terms of good governance Seychelles is at the very top in Africa.
It was also emphasized in the press release that “Assessing the State of Good Governance in the Republic of Seychelles” will be a background document to the forthcoming UNECA report – the 2007 African Governance Report.
Permalink
02.17.08
Posted in Business and Economy, International Organisations, Seychelles offshore jurisdiction at 3:12 am by Robert Klien
An International Monetary Fund (IMF) staff mission issued the Statement at the Conclusion of the 2008 Article IV Staff Mission to Seychelles. The statement was issued on January 30, 2008 in Victoria and published on IMF website on February 1, 2008.
The statement says that an IMF team, headed by Mr. Norbert Funke, visited Victoria, Seychelles on January 17-30, 2008 in order to conduct the Article IV consultation discussions with the jurisdiction. The team reviewed economic developments and prospects, as well as discussed the policies to achieve debt sustainability, external stability, and the goals of their “Strategy 2017″ with the Seychellois authorities. According to the statement, the mission met with President Michel, the Minister of Finance Danny Faure, the Minister of National Development Jaquelin Dugasse, the Governor of the Seychelles Central Bank Francis Chang Leng, as well as with other government officials, non-government organizations, private sector representatives, and the diplomatic community.
In accordance with the IMF statement, economic growth continued to be robust in the jurisdiction in 2007, at over 5%, which was supported by strong foreign direct investment (FDI), mainly in the tourism sector. The IMF mission concluded the following: “Unemployment is at an historic low. Inflation rose in response to the gradual realignment of the Seychelles rupee, which is aimed at increasing Seychelles’ international competitiveness. Fiscal policy remained expansionary as a result of higher-than-budgeted spending and lower revenues. The current account deficit widened, partly reflecting imports related to record inflows of new foreign direct investment and the purchase of another oil tanker. Growth may ease somewhat in 2008, reflecting high international oil prices, an expected slowdown in global growth, and local capacity constraints. Inflation is likely to remain elevated in the near term, as one-off factors due to price adjustments feed through.â€
The IMF mission welcomed the broad-based reform strategy of Seychelles authorities outlined in March 2007 and appreciated the positive steps towards closer relations with multilateral institutions. It noted that the 2008 budget breaks with the past and is an important step in the right direction being targeted at a sizeable primary surplus. It suggested that “a range of structural reforms are set to play an important complementary role in reducing macroeconomic imbalances†that include foreign exchange market liberalization measures, upward revisions of utility prices, and removal of price controls on imports. “The reforms will reduce subsidies to public enterprises, limit budgetary pressures, and improve market signals. The government’s announcement that privatization will continue strengthens the prospects for private sector development.â€
In order to put the economy of Seychelles on the path of a strong and sustainable growth for the medium term, the IMF mission found it important to broaden and deepen reform efforts to restore macroeconomic balance and improving competitiveness.
As a conclusion of the statement, the IMF press release pointed out the following: “The IMF stands ready to assist the authorities in refining and implementing their reform program, and looks forward to continuing a close and constructive dialogue.”
Permalink
02.03.08
Posted in Business and Economy, International Organisations, International relations at 11:52 pm by Robert Klien
The 4-day workshop on multilateral trade negotiation and regional integration opened on January 28, 2008. It is being organized by the Common Market for Eastern and Southern Africa (COMESA), a regional organisation promoting economic integration through trade and investment, in conjunction with the Trade Division within the Ministry of Finance of Seychelles.
The workshop was a meeting point of local representatives from different sectors related with trade. It aimed to enhance the understanding and awareness of trade issues as well as to strengthen the skills of trade negotiations and trade policy development.
The workshop on multilateral trade negotiation and regional integration falls within the framework of the COMESA work programme.
The work plan scheduled by COMESA for 2007-2008 has listed national workshops in selected member states that will deliver training and sensitization services to enhance trade policy capacity in the region.
When launching the workshop, Colin Jean Louis, the Legal Advisor in the Ministry of Finance, noted that Seychelles prepares for the 2nd phase of economic partnership negotiation with its regional and global partners.
As to participants of the workshop, these are representatives from the Ministry of Finance, Foreign Affairs, the Seychelles Tourism Board, the Seychelles Fishing Authority, and the Seychelles International Business Authority (SIBA).
Permalink
01.28.08
Posted in Bilateral Treaties, International Organisations, International relations at 5:45 pm by Robert Klien
Negotiations on a temporary agreement for an Economic Partnership Agreement (EPA) between African, Caribbean and Pacific countries, of which Seychelles is a member, with the EU has been initiated by Barry Faure, Seychelles Ambassador to the European Union.
It should be noted that negotiating of an EPA with the European Union is being undertaken by the African, Caribbean and Pacific countries (ACP) Group and by the Eastern and Southern Africa (ESA) Group. It is also important that Seychelles, as well as 15 other Common Market for Eastern and Southern Africa (Comesa) Member States, opted to undertake these negotiations within the ESA Group. Seychelles, along with Mauritius, Comoros and Madagascar, has clinched the temporary agreement within the ESA Group as well.
In the beginning of December, Patrick Pillay, the Minister for Foreign Affairs, and Vivianne Fock-Tave, his Special Advisor, made presentations to the National Assembly in order to explain the importance of an EPA for Seychelles and countries of the region. According to the Minister for Foreign Affairs, Seychelles’ exports to the EU will face import duty without a new agreement or without a temporary agreement.
In accordance with World Trade Organisation (WTO) guidelines, the temporary agreement was reached on November 14 and initialed on November 29. On December 31, 2007, the arrangement allowing Seychelles and other ACP countries to export to the EU at 0% import duty expired. To continue uninterrupted exports to the EU, the temporary arrangement is needed.
According to Minister Pillay, the negotiations with the EU will go on and they are expected to lead to a complete agreement by the end of 2009.
Permalink
10.28.07
Posted in International Organisations, International relations at 11:01 am by Robert Klien
The Seychelles Ambassador to the UN, Ronny Jumeau participated and made a speech at a high-level event convened by the UN Secretary General Ban Ki-Moon. The event was entitled “The future in our hands: addressing the leadership challenge of climate changeâ€.
Ambassador Jumeau expressed his disappointment about the fact that small island and low-lying countries are not urgently getting technologies needed in order to adapt to the rising sea levels in some areas.
He said that most technology is aimed to help the polluters mitigate their emissions, laudable as that may be, however, nothing is being said about technology aimed to help small island states and low-lying countries adapt to climate change.
Ambassador Jumeau said he hopes that donor countries, organisations and private sector entities having resources at their disposal will assist vulnerable states with solving this problem.
It is in this contest, that the Sea Level Rise Foundation has been launched by the Presidents of Seychelles, James Michel and Palau, Tommy IEsang Remengesau. Its objective is complementing the UN’s efforts by prompting global attention and action. The above-mentioned includes the innovation and transfer of the types of technologies needed for small island states and low-lying countries to address the devastating impact of climate change on ecosystems and people.
Permalink
« Previous entries