Seychelles has launched its second workshop on the African Continental Free Trade Area (AfCFTA), continuing efforts to implement the agreement ratified in 2021. The workshop focuses on developing an implementation strategy that will enhance Seychelles’ trade relations and economic competitiveness within Africa. Various stakeholders are involved in this collaborative effort, as the AfCFTA aims to create a unified market for goods and services across the continent.
Seychelles has inaugurated its second national workshop on the African Continental Free Trade Area (AfCFTA), marking a significant step towards implementing the AfCFTA agreement on the island. The agreement, which was ratified by Seychelles in 2021, is designed to create a unified market for goods and services across Africa, facilitating the movement of individuals and investments while advancing the establishment of a customs union. Following the first workshop held in September, this session aims to develop an effective implementation strategy for Seychelles, collaborating with various consultants. Veronique Brutus, a senior trade officer at the Seychelles Department of Trade, highlighted the importance of this workshop in assessing the implementation strategy. Participants will review a draft of this strategy, providing necessary input to ensure optimal implementation that aligns with Seychelles’ development goals. Minister of Finance, National Planning and Trade, Naadri Hassan, emphasized the significance of the National AfCFTA Implementation Strategy as an essential tool that will bolster Seychelles’ industrialization, job creation, and investment prospects, ultimately enhancing its competitive edge within the African market. Hassan advocated for a participatory approach in developing the strategy, encouraging stakeholder engagement to foster consensus and ensure diverse needs are met. The workshop, held at Berjaya Beau Vallon Bay Resort, included participation from various institutions such as the Fair Trading Commission and the Seychelles Revenue Commission, with training led by representatives from UNECA, UNDP, and GIZ. The overarching goal of the AfCFTA is to stimulate intra-African trade, thereby reinforcing the continent’s position in the global trading arena.
The African Continental Free Trade Area (AfCFTA) is a transformative initiative aimed at enabling African nations to engage in more seamless trade. Launched to establish a single market for goods and services, AfCFTA seeks to facilitate economic integration across the continent while ultimately leading to the formation of a Continental Customs Union. As Seychelles progresses in its participation, it aims to leverage the advantages of this continental agreement to enhance its trade relationships and economic developments. Seychelles ratified the AfCFTA in 2021, becoming a part of a larger movement where 54 African states have signed and 48 have ratified the agreement as of August 2024. By participating in workshops such as this, Seychelles is working towards aligning its national policies with strategic continental objectives.
In conclusion, Seychelles’ second national workshop on the AfCFTA represents a crucial step in realizing the potential benefits of the agreement. Through stakeholder engagement and a well-formulated implementation strategy, Seychelles aims to enhance its economic prospects by fostering trade relationships within Africa. Consequently, the effective execution of the AfCFTA is expected to lead to increased industrialization and job creation, positioning Seychelles as a competitive player in the regional economy.
Original Source: www.seychellesnewsagency.com
