Seychelles has launched its second workshop on the African Continental Free Trade Area (AfCFTA) to develop an implementation strategy following its ratification in 2021. The workshop allows multiple stakeholders to provide input on the draft strategy, facilitating effective integration into the continental free trade framework. Key figures, including Minister Naadri Hassan and UNDP specialist Sujitha Sekharan, emphasized the importance of collaboration to maximize the benefits for local businesses and the economy.
Seychelles has commenced its second national workshop focused on the African Continental Free Trade Area (AfCFTA), aimed at aiding the nation in effectively implementing the AfCFTA agreement ratified in 2021. The AfCFTA seeks to establish a unified continent-wide market for goods and services, promoting the free movement of business personnel and investments. This workshop follows a series initiated last September and is pivotal in forming a strategic approach for the nation’s participation in the agreement. Veronique Brutus, the Senior Trade Officer at the Department of Trade, emphasized that this workshop will delve into Seychelles’ implementation strategy, collaborating with various consultants to guide attendees through the process. Participants will have the opportunity to comment on the draft strategy to ensure a thorough approach to implementation. Minister of Finance, National Planning and Trade, Naadri Hassan, remarked that the National AfCFTA Implementation Strategy is crucial for Seychelles to engage and benefit fully from the AfCFTA framework. “The development of the Strategy requires a participatory approach to promote consensus building and ownership among the stakeholders,” Hassan noted, underscoring the need for collective input to address diverse interests. He further stated that successful strategy implementation could enhance Seychelles’ industrialization potential, boost job creation and investment, and improve competitiveness in the African region, aligned with the National Development Strategy 2024-2028. The workshop, hosted at the Berjaya Beau Vallon Bay Resort, features participation from critical institutions such as the Fair Trading Commission and the Seychelles Revenue Commission. It is being 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 overarching goal of AfCFTA is to foster intra-African trade and elevate Africa’s position in global markets by unifying policy discussions on trade. Sujitha Sekharan, the UNDP Programme and Operations Specialist, highlighted the extensive market potential available through the AfCFTA, noting the advantages for local entrepreneurs. “Imagine the potential for our fishermen, farmers, and artisans to sell their products to a wide audience, boosting our economy and creating jobs in the process,” she stated, reinforcing the belief that enhanced trade will ease partnerships between Seychelles and other African nations whilst facilitating the exchange of innovative ideas and practices.
The African Continental Free Trade Area (AfCFTA) is a significant trade agreement aimed at fostering economic growth through increased intra-Africa trade. Ratified by Seychelles in 2021, this agreement promotes the establishment of a single market for goods and services across its 54 participating nations. The workshops organized by the Seychelles government symbolize an active effort to prepare a comprehensive implementation strategy that engages multiple stakeholders, ensuring that the nation can maximize the benefits derived from this initiative while aligning with broader developmental frameworks.
In conclusion, the second national workshop on the AfCFTA in Seychelles marks a crucial step towards the nation’s effective engagement in this transformative trade agreement. With strong participation from various stakeholders and support from international organizations, Seychelles aims to harness the potential of the AfCFTA to enhance economic growth and competitiveness. The collective input during the workshops will ensure that the formulated strategies reflect the interests of all involved parties, ultimately contributing to the sustainable development goals of the nation.
Original Source: www.seychellesnewsagency.com
