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Seychelles keen on trade pact with India
Our Bureau
The President of the Republic of Seychelles, Mr James Alix Michel, with the Prime Minister, Dr Manmohan Singh, at the Hyderabad House in the Capital on Monday. — Ramesh Sharma
New Delhi
,
Aug 1
INDIA and Seychelles are discussing possibilities for signing a comprehensive trade agreement on the lines of which India has with Singapore and Mauritius to promote bilateral trade between the two countries, according to President of the Republic of Seychelles, Mr James Alix Michel.
Addressing a business meeting with the Indian industry under the joint platform of the Associated Chamber of Commerce and Industry, the Confederation of Indian Industry and the Federation of Indian Chamber of Commerce and Industry, Mr Michel said here on Monday that discussions to this effect were at advanced stages and progressing very fast for a logical conclusion.
He enlisted four key areas of joint co-operation including tourism, fishing, petroleum exploration and communications.
Communications sector in India has expanded very well and that has huge potential for its diversification in Seychelles, which opened its economy only two years ago, he said.
Mr Michel called upon the captains of Indian industry to explore business potential, which is in abundance in Seychelles because of its geographical placements.
Similarly, the hospitality industry also offered enormous business opportunities in Seychelles and that Indian hoteliers should tap this potential, he said
The Seychelles President also said that his country has just opened up registration for foreign companies that can make a mark in Seychelles and that Indian businessmen should avail themselves of this opportunity.
The Minister of State for Defence and Parliamentary Affairs, Mr B.K. Handique, speaking on the occasion, said that tourism is a key sector of Seychelles' economy followed by hospitality sector. These two areas do provide avenues for joint collaboration between the private sectors of the two countries, he added.
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