FTC, SRC sign agreement to formalise working relationship |21 June 2021
The Fair Trading Commission and the Seychelles Revenue Commission on Thursday signed a memorandum of understanding to formalise their collaborative working relationship.
The signing of the agreement was done at Liberty House by the Commissioner General of the Seychelles Revenue Commission (SRC) Veronique Herminie and the chief executive of the Fair Trading Commission (FTC) Francis Lebon.
The agreement establishes a general framework for effective cooperation to prevent duplication, to share information, to conduct joint enforcement and to build capacity in the areas of consumer protection, fair competition and market surveillance.
The signing of the agreement also follows an initiative which the FTC started in 2020 to develop a joint task force which included the following authorities: the SRC, the Public Health Authority (PHA), the Seychelles Bureau of Standards (SBS) and the Seychelles Licensing Authority (SLA) for the robust inspection and surveillance to address market failures more effectively.
The expected benefits of the agreement are:
• to combat unfair trade practices through information and intelligence exchanges and joint enforcement action,
• to mutually develop protocols as annexes to this agreement to combat importation of goods which fail to comply with requirements of the Consumer Protection Act, 2010 be it in terms of language on labels or safety standards,
• to meet formally on a regular basis to inform and consult on current and upcoming activities,
• to identify opportunities to enhance distribution of information in business and consumer advocacy materials intended for the public and
• to consider and implement appropriate opportunities for collaboration in training and staff development.
Mrs Herminie said: “The collaboration between the SRC and the FTC is crucial in the country’s efforts to ensure compliance especially for retailers and importers as part of the necessary surveillance to guarantee consumer protection. The Covid situation has impacted on our joint inspections but the related work at the border is being intensified.”
For his part Mr Lebon said: “The FTC sees the agreement as a necessary platform and tool to reinforce our collaboration in the enforcement of consumer and competition laws in the country.”
It is expected that this collaboration between the FTC and the SRC will also reinforce the visibility of both institutions and improve on non-compliance in general for the benefit of local consumers.
Present to witness the signing of the agreement was the principal secretary for trade Cillia Mangroo as well as representatives from the SRC.
Joint FTC/SCR press release