04.04.08
Posted in Business and Economy, International relations, Seychelles IBC, Seychelles companies at 10:28 pm by Robert Klien
Recently China urged the business community of Seychelles to its largest fair.
The Seychellois companies are invited to visit and take part in the 103rd China Import and Export Fair, which is known as the Canton Fair.
The Fair will be held in several phases. The 1st one will take place on April 15-20, 2008, while the 2nd will be held on April 25-30, 2008 in Guangzhou. The 1st session will focus on medicines and health products, industrial products, textiles and garments, while the 2nd will focus on consumer goods and gifts. The Canton Fair will be staged at the centre of the Pearl River Delta and it will manufacture powerhouse and exporting bases.
The Canton Fair is the largest trade fair in China held twice a year – in April and October. It provides with a rich variety of Chinese goods. The international sections of this 103rd Fair will be placed in the Pazhou and Liuhua complexes of China Import and Export.
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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.
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03.08.08
Posted in International relations at 10:47 am by Robert Klien
On February 15, 2008, the European Commission took the 1st step to sign short stay visa waiver agreements between the European Community and six other countries including Seychelles. The other countries to sign the agreements with the European Commission are the Bahamas, Barbados, Mauritius, Antigua and Barbuda, Saint Kitts and Nevis.
The recommendations to authorise the European Commission to start negotiations will be submitted to the European Council.
Vice-President Franco Frattini, Commissioner responsible for Justice, Freedom and Security, explained that the negotiations on the visa waiver with Seychelles and the other 5 countries need to be opened when the negotiating directives will be approved by the Council, and the full implementation of the existing legal framework will be available.
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02.24.08
Posted in Foreign investments, International relations, Seychelles government at 11:44 pm by Robert Klien
The visit of Seychellois President James Michel to Kuwait has been discussed previously.
As to the outcomes of the 2-day visit to Kuwait, Michel said that the visit has opened up space for a dynamic cooperation between the 2 countries.
It has been described previously that after a final round of negotiations held in February 2007, Seychelles and Kuwait are expected to sign the Double Taxation Avoidance Agreement (DTA). However, according to the Seychellois President, besides the signing of a DTA between the 2 countries, work on a Protection Investment Agreement has started to reinforce the protection that investors seek when investing in a country.
Also, the possibility for Kuwait Airlines to fly to Seychelles was announced by the President. He said that it was discussed and that a bilateral air services agreement should be signed soon in order to allow for this.
There were also discussions on the possibility to make available a line of credit for Seychelles aimed at importing fuel from Kuwait.
According to President Michel, his visit to Kuwait at the invitation of the Amir of the Gulf State, His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah was an opportunity not only to reinforce personal ties with the leader of Kuwait, but also to reinforce friendly ties between the countries. To remind, a past diverse relationship between Seychelles and Kuwait was interrupted after Kuwait’s invasion by Iraq and the subsequent Gulf War.
The Amir has expressed his desire to strengthen the cooperation and to assist in bringing more investments to Seychelles that would contribute to the economic development of it.
President Michel also mentioned having intense discussions with the Kuwait Investment Authority (talks on the possibility for the Authority to invest in commercial projects in Seychelles), the Kuwait Fund for Development (talks on how it could help in financing infrastructural projects), and the Minister responsible for Oil and Energy (talks on the possibility to make available a line of credit for Seychelles to import fuel from Kuwait).
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02.05.08
Posted in Double Taxation Agreements, International relations, Seychelles government at 11:02 pm by Robert Klien
President James A. Michel is currently visiting Kuwait as a result of the invitation of His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Amir of the State of Kuwait.
During his stay, President of Seychelles will hold talks with His Highness The Amir, Prime Minister Nassir al-Muhammad Al-Ahmad Al-Sabah, and National Assembly Speaker Jassem Mohammad Al-Kharafi, and meet the representatives of the Kuwait Investment Authority and the Kuwait Fund for Arab Economic Development.
It is worth indicating that Seychelles established diplomatic relations with Kuwait on July 11, 1988. Cooperation between the two countries has been mainly with the Kuwait Fund for Development that has financed the East Coast Fisheries, PUC Electricity Generation Project and the Praslin Sewerage Facilities.
After a final round of negotiations held in February 2007, Seychelles and Kuwait are expected to sign the agreement on double taxation avoidance.
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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).
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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.
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12.20.07
Posted in Business and Economy, International relations, Seychelles government at 11:00 am by Robert Klien
During his official visit to Seychelles on November 27-28, 2007, Commonwealth Secretary-General Don McKinnon held talks with Seychelles’ President James Michel and Vice-President Joseph Belmont.
Besides the President and the Vice-President, Mr McKinnon had a meeting with the Speaker of the National Assembly Patrick Herminie and Opposition Leader Wavel Ramkalawan.
The issues under discussion included governance issues, parliamentary matters, local politics as well as the outcomes of the recent Commonwealth Heads of Government Meeting that was held in Kampala, Uganda, on November 23-25.
The Secretary-General also toured the Mahé fishing port in order to discuss a traffic study that is sponsored by the Commonwealth Secretariat.
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11.29.07
Posted in Double Taxation Agreements, International relations, Seychelles offshore jurisdiction at 1:18 pm by Robert Klien
As discussed previously, in recent years, the Seychelles has significantly expanded its double tax treaty network and Double Taxation Treaties is one of the cornerstones of developing Seychelles offshore industry.
Recently, the Seychelles International Business Authority (SIBA) published the updated list of Double Taxation Agreements (DTAs).
So, the DTAs that have already been ratified (so, are currently in force) are the agreements with China, South Africa, Indonesia, Oman, Botswana, Mauritius, Thailand, Malaysia, Vietnam and Cyprus.
The DTAs with Zimbabwe, Qatar, Belgium and the UAE have been signed.
Negotiations about signing DTAs between Seychelles and the following countries – Egypt, Bahrain, Czech Republic, Tunisia, Kuwait, Namibia and Russia – have been concluded.
The Seychelles is holding negotiations about signing the DTAs with Philippines, Malta, Burundi, Ivory Coast, Lesotho, Morocco, Uganda and Barbados. Negotiations with Spain, Pakistan, Israel, Portugal, Turkey, Kenya, Burundi and Zambia are also in progress.
Also, Seychelles agreed to negotiate on signing double tax avoidance treaties with Sweden and Tanzania.
The updated list provided by SIBA shows what has been done and what is still to be done by Seychelles regarding DTA support to the offshore financial services industry.
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11.24.07
Posted in International relations, Tourism industry at 3:48 pm by Robert Klien
Vice-President of Seychelles Joseph Belmont left the country for official mission to the World Travel Market (WTM) in London. The WTM is the largest annual travel show in the UK and one of the largest in Europe that was held on November 12-15, 2007.
Vice-President Belmont, in his capacity as the minister responsible for tourism, was leading a delegation that consisted of over 40 travel professionals representing over 20 companies and organisations from Seychelles. The delegation also included chairman and CEO of the Seychelles Tourism Board (STB) Maurice Loustau-Lalanne and other representatives of the STB.
A yearly business-to-business fair that concluded the event on November 15 attracted more than 45 000 travel professionals from more than 200 countries and regions.
Year 2007 was the 1st time Seychelles was represented at WTM by its new “Another World†brand. The new brand was launched earlier in 2007 at the ITB fair in Berlin, Germany.
It should be noted here that visitor arrivals from the UK and Ireland have shown an increase of 9% so far in 2007, which is a remarkable turnaround after a 3-year decline for the market until 2006.
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