Seychelles Aligns with Global Standards
Seychelles has taken another important step in modernizing its economy. The government has adopted a series of reforms aimed at making the country more resilient to external shocks and more competitive in international trade.
These measures are part of a comprehensive strategy that seeks to improve the organization of public policies, laws, and administrative procedures. “The objective is to protect the national economy while facilitating trade. In an unstable global context, marked by economic tensions and rapid changes in international trade, these reforms should allow the country to adapt more effectively,” according to the official statement.
These decisions were presented at a government press briefing led by Vice President Sébastien Pillay. He reiterated the authorities’ commitment to strengthening institutions, supporting local businesses, and maintaining Seychelles’ competitiveness in the global market.
Among the key measures is the adoption of a draft law on trade remedies. This legislation aims to combat unfair practices such as dumping and subsidized imports. This framework provides Seychelles with internationally recognized tools, in accordance with World Trade Organization rules, to protect local businesses and ensure fairer competition.
The government is also focusing on modernizing customs. The new rules make procedures simpler, faster, and more transparent. The introduction of the ATA Carnet system will facilitate the temporary transit of goods, which is beneficial for companies participating in trade fairs, exhibitions, or international events.
Other changes concern tourism, notably with more flexible rules for accommodating yachts, in order to attract a high-end clientele. The requirement for electronic payments for large transactions also aims to enhance transparency and reduce the risk of fraud.
Finally, the harmonization of customs tariffs with regional organizations such as COMESA, SADC, and the AfCFTA will allow Seychelles to better integrate into regional trade and expand its economic opportunities.
