Stakeholders learn more about international business |13 June 2013

Organised by the Ministry of Foreign Affairs, in collaboration with the Indian Institute of Foreign Trade (IIFT) and the Indian high commission of Victoria, the workshop is taking place at the Maison Football at Roche Caiman.

It was officially opened on Monday by the Indian high commissioner, Thanglura Darlong, in the presence of the Minister for Foreign Affairs Jean-Paul Adam, his principal secretary Maurice Loustau-Lalanne, the principal secretary for Finance, Trade and Investment Dr Steve Fanny, moderators and stakeholders.

The workshop is the first of its kind in Seychelles and aims at providing awareness on international business environment, help develop international marketing strategies among stakeholders, develop understanding about import-export procedures and documentation, understand international trade and logistics and supply chain management, increase proficiency on issues related to international business and trade diplomacy, and enhance overall skills and competency in international business.

The director general for development and regional integration, Kenneth Racombo, explained that the training will be beneficial to Seychelles at a time when the country wants to benefit more from regional cooperation.

“The course will clarify international agreements, and once we master them, this will ease trade and at the same time we will be in a better position to know what benefits we can have from those agreements,” he said.

In his speech, Mr Darlong was thankful to the IIFT for accepting to conduct the course in Seychelles.

He said that his country had long wanted to offer the training to Seychellois businessmen and government officials through the prestigious institute, of which he is himself a past student.

He hoped that India will be able to facilitate more such courses in the future, and that the programme will further strengthen cooperation between our two countries, especially in the trade and commerce sector.

The seminar is being conducted by the chairman of IIFT, Dr Rakesh Mohan Joshi, who will be assisted by Dr Madhukar Sinha, Professor Deepenkar Sinha and Akanksha Dua.

Dr Joshi presented an overview of the week’s programme which will include globalisation, World Trade Organisation (WTO) and its impact on international business, international business strategy, policy framework for international trade as well as trade opportunities in Seychelles and expansion into international markets.

Dr Joshi noted that as the world is going through important economic changes where economy dominates diplomacy, it is important for a country with limited resources like Seychelles to increase its productivity and product competition through capacity building.

He pointed out that in order to enhance economic competitiveness, countries should concentrate more on their strong points, which in the case of Seychelles is tourism, and whereby no other market can offer the same product in terms of quality.

The IIFT was set up by the department of commerce of the government of India in 1963 and is one of the premier management institutes in the area of international business.
The institute also conducts research and takes up consultancy for government and multilateral organisations.

It has conducted several research studies with organisations like the WTO, the World Bank, and the United Nations Conference on Trade and Development.

As part of its international projects agenda, the IIFT has been entrusted the responsibility to conduct capacity building programmes on international business in African countries which have until now included Tanzania, Ethiopia, Egypt, Botswana, Namibia, Angola, South Africa, Uganda, Senegal, Rwanda, Burkina Faso, Mauritius and Seychelles.

The programmes are aimed at developing required skills and professional competency among entrepreneurs, government officials, professionals and corporate executives.

The present workshop, which will go on until tomorrow, is being attended by over 30 participants from the Ministry of Finance, Trade and Investment, Ministry of Foreign Affairs, Seychelles International Business Authority (Siba), Financial Investigation Unit (FIU), non-governmental organisations as well as private entrepreneurs.