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Geographical Indication sensitization materials

August 28, 2024

Geographical Indication sensitization

GI Sensitization Material (In Creole and English)…….

Patent Sensitization

August 27, 2024

Patent Sensitization

Patent Sensitization Material (In Creole and English)…….

National Intellectual Property Strategy (NIPS) – Questionnaire

August 27, 2024

National Intellectual Property

As part of our ongoing efforts to develop a comprehensive National Intellectual Property Strategy (NIPS), a questionnaire has been designed to gather input on various aspects of IP management and strategy…….

e-Ping Leaflet

July 19, 2024

e-Ping Leaflet

A free online tool developed by the UN, WTO, and ITC and provides up-to-date information on changes in foreign market product requirements…….

UNDERSTANDING DISPUTE SETTLEMENT

July 18, 2024

UNDERSTANDING DISPUTE SETTLEMENT

What is Dispute Settlement?A structured approach to resolving conflicts between parties. In international trade, this involves formal procedures established under multilateral, regional, or bilateral agreements,…….

‎Seychelles at a Glance

Seychelles has a mixed, developing economy that is heavily dependent on tourism and ‎fisheries. Growth has been led by the tourism sector and by tuna fishing. The tourism ‎industry directly employs about 30% of the labour force and directly and indirectly accounts ‎for over 70% of the GDP.

Type of Economy Open Economy
Inflation (yearly average) 9.96% (2021)‎
National Currency Seychelles Rupees (SCR)‎
Labour Force (December 2021)‎ ‎66.7%‎‎
Unemployment (December 2021)‎‎ ‎3.3%‎‎
Exchange Rate (Jan 2022) Central bank of ‎Seychelles Website‎
  • US$ 1= SCR 14.72‎
  • € 1= SCR 16.92
  • ‎£ 1= SCR 20.06‎
Agricultural products‎ ‎Sweet potatoes,‎Cinnamon, cassava, and ‎Banana
Industries‎ ‎Tourism, Fisheries, Manufacturing, ‎Financial and Agriculture‎‎
Industrial production growth rate‎ ‎Due to COVID 19 in 2021 it decreases ‎‎15.20% in 2021.However prior to COVID, ‎it was 3.2%‎‎‎
Commercial bank prime lending rate ‎Average 8.5%‎
Business Hours‎ ‎‎08.00Hrs-16.00hrs‎

Internet penetration rate (% Population)‎ 72.1%
Internet subscriptions 31-Dec-2020‎ 119,010
Internet Users 31-DEC-20‎ ‎71,300‎‎
Internet Growth % 2000 – 2020‎ ‎‎1,088 %‎
Facebook subscribers 31-DEC-2020‎ ‎‎71,300‎‎‎

Seychelles has yet to establish a holistic strategy for tapping into the full benefits of the ‎digital economy. Given the many benefits as well as drawbacks, efforts are being made to ‎establish national positions. The use of existing consultations platforms such as the National ‎Committee on Domestic Regulations for Trade in Service has begun working on establishing ‎a national strategy to fully tap into the benefits of the digital economy.‎

‎Future Plan for E-Commerce

A future with e-commerce is a future paved towards growth. There exists great potential to ‎promote greater international trade and contribute to the country’s international ‎development by improving access to markets and communities that would be otherwise ‎inaccessible. ‎ As such, plans for the future are to:‎

  • First and foremost improve the structure of e-commerce by reviewing and modernizing laws ‎and regulations governing e-commerce as well as protecting consumers.
  • Moreover, conduct assessments to obtain a deeper view of the status of E-commerce in the ‎country.
  • and finally, formulate and introduce an action plan to guide the country’s efforts on this ‎area.
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