Seychelles

Political relations

Bilateral relations between France and Seychelles are excellent. When pirate attacks on Seychelles started in early 2009, France’s rapid, effective response, involving the assistance of the French Army Forces in the Southern Indian Ocean Zone (FAZSOI) to the Seychelles Coast Guard and the provision of a technical adviser, was highly appreciated. On average, the French Navy calls at Victoria eight times per year, reflecting the excellence of bilateral military relations. These relations can be fostered thanks to the proximity of La Réunion and our strong shared commitment to the Indian Ocean Commission. There are no sovereign territorial disputes between France and Seychelles and the only contentious issue relates to the decision by the Ministry for the Economy and Finance on 6 January 2020 to add Seychelles to the list of Non-Cooperative Countries and Territories (NCCT) with regard to tax issues, commonly known as the list of tax havens, due to its failure to exchange information. The subsequent inclusion of Seychelles on the EU and OECD lists for the same reasons demonstrated that this is a structural problem.

Economic relations

GDP (in 2018): $1.59 billion (World Bank).
GDP per capita (in 2018): $16,434 (World Bank)
Growth: 3.5% in 2019 (World Bank)
Unemployment (as defined by the ILO) in 2015: 2.7%
Inflation: 3.4% in 2018 (World Bank)
Current account surpluses (% of GDP) in 2018: -17% (World Bank)

Share of the main GDP areas of activity in 2018:

• agriculture: 2%
• manufacturing: 11%
• services: 87%

Exports from France to Seychelles (2019): €57 million (including 46% regarding fish-based preparations and tinned goods).
Imports from Seychelles to France (2019): €102 million (including 90% regarding fish-based preparations and tinned goods).

France is a major economic actor in Seychelles, and was the country’s third largest customer and second-largest supplier in 2018.

In 2019, trade between France and Seychelles totalled €159 million, compared to €178 million in 2018. French exports to Seychelles in 2019 totalled €57 million (€61 million in 2018). French imports from Seychelles stood at €102 million in 2019 (€117 million in 2018), accounting for a French trade deficit of €46 million for 2019. French imports from Seychelles are made up almost entirely of tinned tuna (€90 million).

French interests do, however, remain limited given the size of the market. In terms of stock, France was the second-largest foreign investor in Seychelles in 2018, behind Mauritius. The French presence is concentrated in a few sectors such as fishing fleets (SAPMER), catering for airlines (SERVAIR), international removals (AGS), and water treatment (Eiffage/Hydrotech). A few French operators are present on an individual basis in tourism (hospitality, catering, boat rental, diving clubs, etc.) and in other service activities (consultancy, real estate, multimedia, etc.).

In 2017, trade between La Réunion and Seychelles stood at €1.2 million, with €533,000 in exports from La Réunion to Seychelles and €735,000 in imports from Seychelles to La Réunion.

The luxury tourism, infrastructure and renewable energy sectors are investment prospects for France in Seychelles.