Seychelles is a small island state in the Indian Ocean, northeast of Madagascar. The country is largely a service-based economy and depends heavily on tourism and the fishing industry, which are the country’s biggest foreign exchange earners.Other export commodities are cinnamon bark, copra, petroleum products (re-exports). With the view of reducing the country’s dependence on tourism, the Government has been promoting the development of farming, fishing, and small-scale manufacturing. Seychelles’ main export partners are the European Union, Japan, Saudi Arabia, Switzerland and the United States.
Its economic challenges include the lack of economic diversification, vulnerability to external shocks, distance from markets, risks of environmental degradation and weather-related disasters. Seychelles is not yet a Member of the WTO. The country’s accession negotiations are underway.
ITC is looking forward to developing a tourism services business development program and it is envisaged that ITC will partner with the WTO.