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Seychelles (together with Mauritius, Madagascar and Zimbabwe) signed an Economic Partnership Agreement (EPA) with the EU in 2009. It is applied since 14 May 2012.
EPA is reciprocal and goes beyond conventional free-trade agreements. It opens EU markets fully and immediately, allowing long transition periods for partner countries to open up partially to EU imports while providing protection for sensitive sectors. According to the Cotonou Agreement, EPAs are also 'development instruments', comprising the political, economic, social, cultural and environmental aspects of sustainable development.
The EPA Committee meets annually.
Seychelles-EU Trade : http://trade.ec.europa.eu/doclib/docs/2011/january/tradoc_147379.pdf
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The EU provides support to the Government of Seychelles climate action under the Global Climate Change Alliance (GCCA+), a global EU programme aimed at supporting countries to respond to climate change. Between 2010 and 2014, the Government has benefitted from 3 000 000 euros for mainstreaming climate change in national development policies, and in the development of a solid institutional and legal framework for the energy sector. A new programme of 3 000 000 euros was signed by the Government of Seychelles and the EU in December 2014 to address recurrent flooding on the island of La Digue.
Seychelles and the EU are working closely on various ‘high priority’ cooperation programmes in the following areas:
The first Fisheries Partnership Agreement between the EU and the Republic of Seychelles was signed in 1987.
A new Agreement was concluded in 2006 for a duration of 6 years renewable. The current protocol covers the period from 18/01/2014 to 17/01/2020, with an annual financial contribution of 5 000 000 euros. From this amount, 2 500 000 euros is targeted at a specific support to the development of the fisheries sector, contributing to the sustainable management of the tuna resources in the region.
The agreement allows EU vessels coming mainly from Spain, France and Portugal to fish in Seychelles waters and is part of the tuna network fisheries agreements in the Indian Ocean (Mozambique, Madagascar, Comoros and Mauritius).
EU support to the Government of Seychelles under the 11th EDF programme (2014-2020) takes the form of a grant amounting to 2.2 million euros for a technical cooperation programme (TCF) designed to support the implementation of the Seychelles sustainable development agenda. These funds will support the Government in formulating new projects and attracting new financing for development.