India and the Seychelles have signed two economic agreements to increase ties between the countries.
Seychelles president James Michel said that the agreements signed included Bilateral Investment Promotion and Protection as well as Non-Double Taxation. He said that the island nation was significant for investors as a focal point since it is a member of various regional groups, granting more accessibility to African countries like Egypt, South Africa, and Kenya. “Seychelles’ geographical position in the middle of the Indian Ocean, on the sea routes from Asia to Africa and the Middle East, give us a very strong commercial and business advantage over our neighbors,” said Michel.
Michel also highlighted priority industries including renewable energy projects.
Direct flights between India and the Seychelles are also in the process of being established as Michel said it would “surely open the window to the increase in exchanges between our two countries for business.”
Subscribe to Alternative Energy Africa today for more in depth news in the alternative/renewable energy sector and be sure to grab your risk-free trial to see what we’re doing in 2010.