New EU support to Seychelles’ regional economic integration |02 February 2016

A team of experts are in Seychelles to meet public and private stakeholders to define the actions under a new project of seven million euros in support of Seychelles for the implementation of the interim Economic Partnership Agreement (iEPA) signed with the European Union in 2009.  

The experts will identify gaps/bottlenecks that may act as obstacles to the country meeting its obligations and fully benefit from the iEPA or that may hamper Seychelles' regional integration process.

The experts' mission will, more specifically, identify immediate needs for legal and institutional reforms, as well as for capacity building, be it technical or material, to implement the iEPA, and propose an action plan to address these needs.

Marjaana Sall, Ambassador of the European Union to the Republic of Seychelles, stated:

“This new 7 million euros iEPA project comes at a very opportune time. Given the link between trade, development and growth, the project will assist the country in achieving its short to medium-term targets to sustain economic growth through expansion of trade opportunities available for the private sector. As of today, several project proposals have been identified both by government and by the private sector. The experts will hold discussions with all stakeholders with a view to identifying the most appropriate iEPA support mix. The European Union will work closely with both government and the private sector to ensure the prompt preparation of this new project.”

Ambassador Maurice Loustau-Lalanne, national authorising officer/ principal secretary for Foreign Affairs, complemented Ambassador Sall’s statement by highlighting that the government is currently focusing on the enhancement of Seychelles’ micro, small and medium enterprises (MSME).

“We need to reap maximum benefits of the bilateral and multilateral agreements signed, including the iEPA, with the view of promoting not only sustainable but inclusive growth,” Ambassador Loustau-Lalanne said.

He also noted the timely arrival of this assistance as we pursue key institutional reforms and as we embark on the formulation of our first ever MSME Development Strategy and Implementation Plan.

The report of the experts will be presented to all stakeholders later during the year. The project is expected to start in 2017/2018.