Brussels, 28/10/2013 (Agence Europe) - The EU and the Seychelles have concluded their bilateral negotiations at the WTO ahead of the Seychelles joining the WTO.
The WTO bilateral agreement on market access, which was concluded on 23 October, provides for the lowering of customs duties for trade in goods and the opening of markets in services when the Seychelles joins the WTO. The commitments will then be incorporated into the future protocol of accession.
The EU hopes to “welcome [the Seychelles] into the WTO family very soon” given the “remarkable progress” the Seychelles - one of the ACP countries - has achieved, said EU Ambassador Angelos Pangratis. The Seychelles' request for WTO accession dates back to 1995. In order to become a member, the Seychelles must complete bilateral negotiations with other interested WTO member countries and obtain the approval of the working group on its accession.
Feeding 30% of its imports, and absorbing 61% of its exports, the EU is the Seychelles' main trading partner. In 2012, the Seychelles exported for a total of €287 million to the EU (particularly fishery products) and imported for a total of €200 million from the EU. EU-Seychelles trade is governed by the interim economic partnership agreement (EPA), which was concluded in 2007 and has been provisionally applied since May 2012. (EH/transl.fl)