Seychelles is hosting its second national workshop on the African Continental Free Trade Area (AfCFTA) to enhance its trade integration and implementation of the agreement. The workshop will involve stakeholder engagement to develop an effective strategy, supported by various organizations and aimed at boosting economic growth through improved trade relations across Africa.
Seychelles has officially commenced its second national workshop focused on the African Continental Free Trade Area (AfCFTA), aiming to further assist the nation in implementing the agreement established in 2021. This initiative is designed to foster a unified continental market for goods and services whilst facilitating the movement of business personnel and investments. The ongoing workshops stem from previous sessions and will examine the strategic implementation tailored for Seychelles, engaging consultants and stakeholders in lively discussions regarding the proposal. During this workshop, participants will be presented with a draft strategy, allowing them to share insights and recommendations to refine Seychelles’ approach to the AfCFTA. Finance Minister Naadri Hassan emphasized the importance of the National AfCFTA Implementation Strategy, asserting it as crucial for Seychelles to effectively engage with the continent’s trade dynamics. He advocated for a collaborative methodology that encompasses all stakeholders to ensure diverse interests are acknowledged and integrated into the strategy. The workshop is taking place at Berjaya Beau Vallon Bay Resort and includes contributions from various organizations such as the Fair Trading Commission and the Seychelles Revenue Commission. It is supported by expert facilitators from the United Nations Economic Commission for Africa (UNECA), the United Nations Development Programme (UNDP), and the German development agency GIZ. The AfCFTA is envisioned to stimulate intra-African trade, enhance Africa’s standing in global trade negotiations, and establish a unified market conducive to economic cooperation across the continent. Sujitha Sekharan, a specialist from UNDP, highlighted the vast opportunities presented by the AfCFTA, emphasizing the access it provides to a market of over 1.3 billion people across 54 countries. She articulated the potential benefits for Seychelles, advocating for the expansion of local businesses and greater economic engagement across African borders. Furthermore, Sekharan pointed out that the AfCFTA simplifies trade processes for Seychellois entrepreneurs while nourishing a platform for collaborative exchanges among member nations, thus enriching their international trade experience.
The African Continental Free Trade Area (AfCFTA) represents a significant milestone in the continent’s economic integration journey. Ratified by Seychelles in 2021, the agreement aims to create a single market for goods and services throughout Africa, promoting free trade and facilitating business operations across borders. The workshops, commencing with the first in September, are vital in building an effective implementation strategy tailored to the specific needs and capacities of Seychelles, ensuring alignment with broader continental goals.
In summary, Seychelles’ ongoing workshops concerning the AfCFTA are pivotal steps towards reinforcing the nation’s integration into the broader African trade framework. The development of a comprehensive implementation strategy, supported by active stakeholder engagement, will enable Seychelles to maximize the benefits derived from the AfCFTA. Minister Naadri Hassan’s emphasis on collaborative approaches, alongside insights from experts such as Sujitha Sekharan, underscores the potential for enhanced economic activities and partnerships across the continent, ultimately benefiting Seychellois businesses and the overall economy.
Original Source: www.seychellesnewsagency.com
