Trade reform designed to strengthen economy

Strengthening economic defences and streamlining trade

SEYCHELLES: Seychelles has taken a decisive step to fortify its economic resilience and sharpen its trade competitiveness, with Cabinet approving a suite of reforms that signal a clear pivot toward a more agile, rules-based, and business-friendly economic framework.

At the heart of this reform package is a strategic alignment of policy, legislation, and administrative systems designed to both shield the domestic economy from external shocks and accelerate the efficient flow of trade. In a global environment marked by volatility, from geopolitical tensions to shifting trade dynamics, these measures position Seychelles to respond with greater precision and confidence.

These decisions were outlined during a Cabinet Press Briefing led by Vice-President Sebastien Pillay, who underscored Government’s commitment to strengthening institutional capacity, protecting local industries, and ensuring Seychelles remains competitive within the global trading system.

A cornerstone of the decisions is the approval of the final draft of the Trade Remedies Bill, which establishes, for the first time, a comprehensive legal mechanism to address unfair trade practices such as dumping and subsidised imports.

By introducing internationally recognised trade defence instruments in line with World Trade Organisation rules, Seychelles equips itself with the tools to act swiftly against injurious import surges while maintaining its credibility as a compliant trading partner. For local industries, this represents a critical safeguard, ensuring that competition remains fair and that domestic production is not undermined by distorted pricing practices.

Complementing this protective framework is a robust push toward modernising customs operations, a move that directly enhances trade facilitation. Amendments to the Customs Management Act introduce a more streamlined and transparent system, reducing administrative friction for businesses.

The operationalisation of the ATA Carnet system, for instance, is expected to significantly ease the temporary movement of goods across borders, an important enabler for sectors engaged in exhibitions, professional equipment transfers, and international events.

Further improvements to the temporary admission regime for yachts underscore Seychelles’ intent to strengthen its appeal within the high-value tourism segment, balancing greater operational flexibility with tighter regulatory oversight. Meanwhile, the shift toward mandatory electronic and bank transfer payments for higher-value transactions marks a decisive step in improving compliance, reducing leakages, and reinforcing financial transparency within customs processes.

Equally significant are the updates to tariff structures under the Customs Management (Tariff and Classification of Goods) Regulations. By aligning with regional frameworks such as COMESA, AfCFTA, and SADC, Seychelles is not only fulfilling its international obligations but also unlocking broader market access opportunities. These adjustments provide greater predictability for traders and exporters, while ensuring that the country remains fully integrated within evolving regional trade architectures.

The reforms extend beyond facilitation to encompass stronger regulatory control, particularly through the overhaul of rules governing prohibited and restricted goods. By clarifying approval mechanisms, enhancing enforcement procedures, and formalising the implementation of international sanctions, Seychelles reinforces its ability to safeguard public health, environmental standards, and national security, without compromising the efficiency of legitimate trade flows.

Taken together, the measures reflect a carefully calibrated approach: one that balances openness with protection, and efficiency with oversight. They also demonstrate a forward-looking policy stance, recognising that economic resilience is not merely about absorbing shocks, but about building systems that can adapt, respond, and sustain growth under pressure.

As global uncertainties continue to test small island economies, Seychelles’ latest reforms send a strong signal of intent, to remain competitive, compliant, and resilient in an increasingly complex trade environment.