The Seychelles EU fisheries access fee negotiations ended with the government conceding to a 7% increase after failing to secure a proposed 30% rise. President Patrick Herminie announced the outcome on 17 March following talks with the European Union over access for tuna vessels in Seychelles waters.
However, he acknowledged that the final agreement fell short of what Seychelles had sought. “We tried to fight to get more support to benefit more from our own resources,” Dr Herminie said. “EU has presented its arguments why they can’t give us what we were asking, an increase of 30% which is inline with inflation that took place for the past six years. Thursday Minister Cosgrow had a final discussion with them where we concede for 7%.”
Earlier, negotiations reached a deadlock after the Sustainable Fisheries Partnership Agreement expired on Monday, 23 February 2026. The agreement began in 1987. It allowed 21 tuna fishing vessels flying the European Union flag to fish in Seychelles waters under a quota system. As a result, those vessels can no longer operate under the previous terms.
Previously, Seychelles had rejected an earlier proposal from the European Union. The Minister for Fisheries and the Blue Economy, Wallace Cosgrow, described that offer as inadequate. He said it was a “too low” offer of a 3% increase. Therefore, Seychelles did not agree at that stage.
Meanwhile, Dr Herminie said wider economic pressures influenced the government’s position. He pointed to the impact of conflict in the Gulf on transport and the national economy. “Contrary to COVID-19, fisheries sector were functioning then but with the war now, it is affecting transportation,” he said. “If we go into another confrontation regarding fisheries, there may be adverse effects short term on us, as a country we cannot afford that.”
Therefore, the government accepted the revised 7% increase following the final round of discussions.