Economic cooperation with Seychelles to be strengthened

Sri Lanka and Seychelles will establish a direct air link between the two countries immediately, enabling increased trade and tourism between the two island nations and neighbouring countries.

At the discussion on Tuesday held between the visiting Seychelles President Alix Michel and Minister of Economic Development Basil Rajapaksa, it was decided to open up a direct flight service between the two countries immediately.

Sri Lanka will extend a credit line to the Seychelles to use in trade and commercial transaction with Sri Lanka. Seychelles can use these credit facilities to buy commodities and services from Sri Lanka, Minister Rajapaksa said at the discussion.



The two countries agreed to have a joint program to develop cottage industries and exchange experiences and knowhow; Sri Lanka will help Seychelles to develop cottage industries in relation to coconut production.

President Michel and Minister Rajapaksa discussed the possibility of having Sri Lankan investment in the Seychelles hotel industry. The two countries will initiate a joint program to develop tourist industries targeting high-end tourists since both countries have promising opportunities in the tourist sector.

Seychelles has a well develop fishing industry and it has industrial, semi industrial and primary ventures in fishing. Sri Lanka has entered industrial ventures in fishing establishing can fish factories very recently. The two countries will exchange these experiences to develop fishing industry.

Another area extensive discussion was centred on was maritime link program between the two countries. This will facilitate trade and tourism between the two counties extending facilities to the neighbour countries of the Seychelles such as Madagascar and Murusi. Sri Lanka dockyard and ship building firms can venture into this program and benefit from it expanding their services to Seychelles delegation said.

President Michel said as island nations, the two countries have many similarities and therefore we can share our experiences for the economic development and wellbeing of the people. Since Seychelles imports most of its requirement from other countries, Sri Lanka has potential to increase exports to Seychelles.

Rajapaksa said after the end of conflict, Sri Lanka was able to achieve good results in economic development despite the global economic setback. The country gives priority to infrastructure development. “Until last year we were at the receiving end of the UN humanitarian aid programs. But this year we donated 10,000 metric tons of rice to the UN humanitarian program. Sri Lanka’s strategic location in the international maritime and aviation centre is beneficial to investors and traders. Sri Lanka has become a fast developing regional hub in the South Asia,” he added.

Seychelles Minister of Foreign Affairs Jean Paul Adam, Seychelles Minister of Natural Resources and Industry Peter Sinon, Seychelles High Commissioner to Sri Lanka Waven William, Ministry of Economic Development Director General Prof. Sunada Madduma Bandara, Sri Lanka Tourism Development Authority Chairman Dr. Nalaka Godahewa, Ministry of Economic Development Director General External Affairs Saroja Sirisena, Ministry of External  Affairs Director General of Economic Affairs A.S. Khan and Board of Investment Executive Director Dr. Nihal Samarappuli also participated at this discussion.