Communication from The REPUBLIC OF SEYCHELLES
Statement by H.E. Minister Jean Paul Adam, Minister of
Trade and the Blue Economy
following communication, dated 15 April 2015, is being circulated at the
request of the Delegation of the Republic of Seychelles.
Republic of Seychelles Ministry of Finance,
Trade and The Blue Economy
WTO ACCESSION STATEMENT
the 24th of March 2015, the National Assembly ratified the Protocol on the
Accession of Seychelles to the WTO. On 25 March 2015, H.E. Mr. James Alix
Michel, President of the Republic of Seychelles, gave his assent (signed) the
Instrument of Acceptance of the Protocol on the Accession of Seychelles to the
WTO. On Sunday, 26 April (30 days following the deposit of the Instrument of
Acceptance by Seychelles with WTO Director-General Roberto Azevêdo), the
Republic of Seychelles shall become a full Member of the WTO. This is a major
step forward in the trade integration of Seychelles into the rules-based
Multilateral Trading System and the Global Economy. As a Government and People,
in a democracy, we have taken a major step forward and in the right direction.
initial bid by the Republic of Seychelles to accede to the World Trade
Organization (WTO) was started in 1995. However, after the deposit of the
country's application, in 1998, the Negotiating Team for the Government had to
slow down because of budgetary and capacity constraints. In 2008, to address
the challenge of achieving faster growth and buffering the country from
external shocks, such as the global financial and economic crises, President
James Michel initiated far-reaching domestic economic and regulatory reforms.
The purpose was to improve the economic and business climate and faster growth,
so as to expand welfare gains for all Seychellois. We, therefore, relaunched
the WTO accession process. Seychelles re-submitted its Memorandum of Foreign
Trade Regime in 2009. Domestically, the Government consulted with all
stakeholders. Thereafter, we initiated an extensive negotiating process in
Geneva. In December 2014, Seychelles concluded its accession negotiations with
formal approval by the WTO General Council.
this is a proud moment in the economic history of Seychelles. Membership of the
WTO carries scope for immediate benefits and significant opportunities. With
WTO membership, Seychelles is now associated with the WTO core values of the
market economy, transparency, good governance and the rule of law. Seychelles
shall now have access to the markets of all 160 WTO Members. Because we are now
party to a multilateral system of rules, we shall contribute to on-going global
rule-making in the Doha Round Negotiations. Closer to home, Seychelles shall
participate as a full WTO Member at the Tenth WTO Ministerial Conference that
shall take place in Nairobi, Kenya, in December this year. The interests of
foreign investors have been kindled in the opportunities in our domestic
economy, including The Blue Economy. The WTO membership of Seychelles
challenges our private sector to engage, compete and seek-out opportunities for
mutual benefits with foreign investors, including through integration in Global
Value Chains. Seychelles is confident of its future, no less because WTO rules
will also enable Seychelles to safeguard vulnerable sectors of our economy.
membership ensures that Seychelles will contribute to on-going multilateral
negotiation processes to ensure that we can create more opportunities for
wealth creation and prosperity while also defending the countries' approach to
development. WTO membership gives Seychelles the right to invoke the powerful
Dispute Settlement Understanding CDSU) to resolve arbitrary or discriminatory
barriers to trade.
ask all of Seychelles to join the Government of President James Michel in
celebrating the achievement and opportunities of WTO membership today, 26 April
member of the WTO, Seychelles will continue to benefit from technical
assistance and capacity building opportunities from international organizations.
This assistance should complement Seychelles' national efforts towards
empowering its private sector, particularly Small and Medium Enterprises.
conclusion, on behalf of the Government and People of Seychelles, we pay
tribute to WTO Director General Roberto Azevêdo and his Secretariat Team for
strong support and consistently sound and high quality advice in support of the
Seychelles Negotiating Team. We shall continue to rely on this support in the