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Seychelles and Indian business community seals partnership - trade and economic relations set to increase

Victoria, Seychelles | August 13, 2014, Wednesday @ 15:25 in Business | By: Sharon Uranie | Views: 2572
Seychelles and Indian business community seals partnership - trade and economic relations set to increase

A textile retail store in India taken on April 1 2004 (Acred99/Flickr) Photo License:(CC BY-SA 3.0)

(Seychelles News Agency) - The Seychelles Chamber of Commerce and Industries (SCCI) and the Indo-African Chamber of Commerce and Industry have signed a memorandum of understanding that will serve as a platform for cooperation between the two chambers as well as promote trade and economic relations between the Seychelles and India.

The agreement was signed in India last week during the visit of a high-level delegation led by the Seychelles Tourism and Culture Minister, Alain St Ange comprising of representatives of the island nations’ tourism sector and business community.

“Both Parties have agreed to exchange and disseminate information and publications with regards to trade, knowledge transfer, economic cooperation, trade fairs, exhibitions, policies, economic legislation pertaining to the foreign trade of the two countries and also to encourage and assist their members to cooperate with their counterparts in the form of joint ventures,” reads a statement issued by the SCCI this morning.

SCCI Chairman Marco Francis signed the memorandum of understanding with the President of the Indo-African Chamber of Commerce and Industry Y P Trivedi in the presence of the Seychelles Tourism Minister Alain St Ange and other officials of Seychelles and India (Seychelles Chamber of Commerce and Industries) Photo License: CC-BY

In an interview with SNA, the Chairman of SCCI Marco Francis said the memorandum of understanding is targeting three main areas of cooperation; tourism, trade as well as the financial services sector.

Francis noted that with a good majority of SCCI’s members owning tourism related businesses like guest houses, boat charters, tour guide business amongst others, the idea is for them promote Seychelles as a tourism destination by engaging with tourism partners in India through this partnership.

The aim he said is to get a share of the 15 million Indian visitors who travel to Europe, Asia and Africa each year.

The other aspect of the MOU is that the SCCI is promoting Seychelles as being strategically located just off the east coast of Africa and having good legal structures and fiscal incentives to serve as a hub which India can use to penetrate the African market as the Asian nation aims to increase trade and investment in Africa.

With regards to trade between Seychelles and India itself, the SCCI chairman said the Indian businessmen from Seychelles, who formed part of the delegation used the trip to network with Indian businesses with the aim of increasing imports from India considering Seychelles relies heavily on imports.

“What we are telling them is to offer us value for money as well as good quality products…offer us competitive prices that will reduce the cost of products in Seychelles (...…) from household products, construction materials, food etc…….,”said Francis.

“Through this trip the business delegation have been able to network, they exchanged business cards and established contact. A lot of Indian nationals doing business in Seychelles are from the Southern part of India and we went to the northern part of India. So they have made new contacts.”

The SCCI chairman has stressed good air as well as sea connectivity is crucial for the survival of such cooperation like in tourism and trade which is being developed with India.

He has welcomed negotiations between the Seychelles and Indian authorities with regards to a possible direct flight between India and Seychelles in the near future.

Apart from the Indo-African Chamber of Commerce and Industry Francis also met with the Indian Chamber of Commerce and Industry based in New Delhi. Discussions were again centered on possible partnership and cooperation between the two chambers for the benefits of its members.

The Seychelles tourism and business delegation spent some 7 days in India travelling to New Delhi and Mumbai doing roadshows and promoting the island nation as a tourism destination.

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Tags: Seychelles Chamber of Commerce and Industries, SCCI, Indo-African Chamber of Commerce and Industry, Marco Francis, India, tourism, trade, Alain St Ange

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