Seychelles has commenced its second national workshop on the AfCFTA to further its implementation strategy, following its ratification in 2021. Participants from various institutions collaborated to refine the strategy, with the UNDP emphasizing the potential access to a vast market for Seychelles. The workshop aims to promote trade, industrialization, and economic growth in line with national objectives.
Seychelles recently initiated its second national workshop on the African Continental Free Trade Area (AfCFTA) in Victoria, aimed at advancing the implementation of the AfCFTA agreement. This follows the ratification of the agreement by Seychelles in 2021, which aims to establish a unified market for goods and services, facilitate the movement of persons, and lay the groundwork for a customs union. The functioning of this workshop builds upon the preliminary discussions from the first session held in September. Veronique Brutus, Senior Trade Officer at the Department of Trade, remarked, “The workshop today will see us look at the implementation strategy for Seychelles, where we are working with various consultants who will guide us through this process.” The workshop will present a draft strategy for discussion, allowing participants to contribute valuable feedback to optimize Seychelles’s implementation approach. Finance Minister Naadri Hassan emphasized the significance of the National AfCFTA Implementation Strategy, as it is essential for Seychelles to effectively tap into the benefits offered by the AfCFTA. He stated, “The effective implementation of the strategy has the ability to enhance Seychelles’ potential to foster industrialization, job creation, and investment, thus enhancing the competitiveness of Seychelles in the African region in the medium to long term.” With participants from various institutions including the Fair Trading Commission and the Seychelles Revenue Commission, the workshop is facilitated by experts from the United Nations Economic Commission for Africa (UNECA), United Nations Development Programme (UNDP), and the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). The AfCFTA aims to boost intra-African trade and strengthen Africa’s position in global markets by promoting unified trade practices. Sujitha Sekharan, from UNDP, highlighted the vast potential within the AfCFTA, stating, “The AfCFTA opens up a vast market of over 1.3 billion people across 54 countries. For Seychelles, this means access to new customers and partners.” This agreement is expected to enhance trade and encourage economic growth in Seychelles and beyond, enhancing opportunities for local businesses including fishing, agriculture, and craftsmanship.
The African Continental Free Trade Area (AfCFTA) is a significant trade agreement involving 54 African nations, aimed at creating a single market for goods and services while facilitating the movement of people and investments. Seychelles ratified this agreement in 2021, recognizing the potential benefits of enhanced trade and investment on the continent. The national workshops are a structured approach to developing strategies that enable Seychelles to successfully implement the tenets of the AfCFTA, thereby positioning itself favorably within the regional economy.
The recent national workshop organized in Seychelles marks a critical step in the country’s journey towards effective implementation of the AfCFTA agreement. With collaborative input from various stakeholders, the development of a National Implementation Strategy aims to enhance trade and economic growth opportunities in Seychelles, while fostering industrialization and competitiveness in the region. The engagement of the international community further underscores the importance of a collective effort in realizing the broader goals of the AfCFTA.
Original Source: www.seychellesnewsagency.com
