Seychelles has launched its second national workshop on the African Continental Free Trade Area (AfCFTA) to aid in the implementation of the agreement. Following a previous workshop, the sessions focus on developing a national strategy to facilitate trade and economic growth as Seychelles engages more deeply with the AfCFTA and its member countries.
Seychelles has inaugurated its second national workshop dedicated to the African Continental Free Trade Area (AfCFTA), designed to facilitate the effective implementation of the agreement. Launched in 2021, the AfCFTA aims to create a unified continental market for goods and services, fostering free movement of individuals and investments, and setting the foundation for a customs union. The initial workshop occurred in September, with this session focusing on outlining Seychelles’ implementation strategy. Veronique Brutus, senior trade officer, emphasized the importance of collaboration with various consultants to refine this strategy. During the gathering, participants are presented with a draft strategy, allowing them to provide feedback to enhance implementation efforts. Finance Minister Naadri Hassan highlighted that the strategy’s development necessitates inclusive stakeholder engagement to align diverse interests with the overarching goal of effective AfCFTA execution. He asserted that successful implementation could lead to industrial growth, job opportunities, and greater investment, bolstering Seychelles’ competitiveness within Africa, in accordance with the National Development Strategy 2024-2028. The workshop is hosted at Berjaya Beau Vallon Bay Resort, with participation from several key institutions, including the Fair Trading Commission and the Seychelles Revenue Commission. Training is supported by representatives from the United Nations Economic Commission for Africa (UNECA), the United Nations Development Programme (UNDP), and the German development company Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). The AfCFTA seeks to boost intra-African trade and enhance Africa’s position in the global market by fostering a harmonized trade policy. Sujitha Sekharan from UNDP remarked on the agreement’s potential to open up a market exceeding 1.3 billion people across 54 nations, providing Seychelles with access to new customers and partners that can significantly help the local economy. She noted the opportunities for Seychelles’ fishermen, farmers, and artisans, emphasizing the ease of trade between Seychelles and its African neighbors, which encourages the exchange of ideas and collaboration among member states.
The African Continental Free Trade Area (AfCFTA) represents a pivotal initiative aimed at enhancing trade among African countries by creating a single market for goods and services. Ratified by Seychelles in 2021, the agreement seeks to eliminate trade barriers, promote economic integration, and facilitate the movement of people and investments across the continent. The ongoing workshops in Seychelles are essential for developing a national strategy that aligns with the broader goals of the AfCFTA, ensuring that stakeholders’ diverse needs are addressed while fostering national and continental economic growth.
The second AfCFTA national workshop in Seychelles marks a significant step towards the successful implementation of the free trade agreement. By focusing on stakeholder engagement and fostering a collaborative approach, Seychelles aims to enhance its economic integration with the continent. The efforts to strengthen trade relations through the AfCFTA are anticipated to yield substantial benefits, including job creation and improved competitiveness for local businesses in the larger African market.
Original Source: www.seychellesnewsagency.com
