Targeted support for small economies or developing countries is a key component in easing the meaningful involvement of small island developing states in world trade and enabling sustainable development.

Vice-President Danny Faure said this when speaking at a specially convened round table on the sidelines of the third Financing for Development Summit under the theme ‘Ensuring policy coherence and an enabling environment at all levels for sustainable development’.

Mr Faure spoke of the barriers faced by small island developing states (Sids), in particular their exclusion from key policy discussions:
“It is a fact that Sids’ participation in world trade in goods and services remains relatively low. We are supportive of initiatives being undertaken by the WTO (World Trade Organisation) to look into small economies such as Sids and we call on the international bodies to further include us when it comes to decision-making. By listening to us and understanding our particular situation, we can together better incorporate sustainable economic policies in the spirit of global partnership,” said VP Faure.

Despite Seychelles’ proven track record of coordinating local policies to create the best enabling environment possible, the vice-president emphasised that it was global issues such as climate change as well as the large debt burden born by small economies as being the biggest obstacles to achieving sustainable development ambitions.

Vice-President Faure highlighted these areas as key development spaces where the international governing bodies that have a role in policy advancement, should endeavour to develop better-targeted support. 

He further added that these issues should be supported through innovative thinking and the development of a vulnerability index.

Mr Faure was accompanied by the Minister for Finance, Trade and Blue Economy Jean-Paul Adam, and the Special Advisor to the Vice-President, Hans Aglaé.

The FfD3 is a UN meeting being held at the United Nations Economic Commission for Africa from July 13-16 and has brought together heads of states and ministers of finance, foreign affairs and development cooperation, as well as all relevant institutional stakeholders, non-governmental organisations and business sector entities from around the world to discuss and agree on the financing modalities of the post-2015 development agenda.

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