Seychelles has launched its second national workshop on the AfCFTA to further its implementation of the agreement, which aims to create a unified African market for goods and services. Key discussions include strategy presentations and stakeholder input to drive effective execution of the AfCFTA, ultimately enhancing Seychelles’ trade, industrialization, and investment opportunities. Notable participation includes various national institutions and international organizations, with strong emphasis on inclusive, participatory development of the strategy.
Seychelles has commenced its second national workshop focused on the African Continental Free Trade Area (AfCFTA), aimed at furthering the country’s implementation of the AfCFTA agreement. This agreement, which Seychelles ratified in 2021, intends to establish a unified market for goods and services across Africa, facilitating free movement for business professionals and investments simultaneously fostering the development of a customs union. The initial workshop in this series occurred in September and this recent gathering continues the vital discussions from that event. Veronique Brutus, the senior trade officer at the Department of Trade, emphasized that participants would delve into strategy implementation for Seychelles, under the guidance of various consultants. During this workshop, a draft strategy will be presented, allowing attendees to offer their insights and recommendations to enhance Seychelles’ implementation process. In his remarks, Minister of Finance, National Planning and Trade, Naadri Hassan, noted the essential role of the National AfCFTA Implementation Strategy in empowering Seychelles to efficiently engage with the AfCFTA and capture its benefits. \u201cThe development of the Strategy requires a participatory approach to promote consensus building and ownership among the stakeholders\u201d, he stated, highlighting the importance of inclusive feedback from all affected parties. Minister Hassan further articulated that, \u201cThe effective implementation of the strategy has the ability to enhance Seychelles’ potential to foster industrialisation, job creation, and investment, thus enhancing the competitiveness of Seychelles in the African region in the medium to long term.\u201d This strategy is designed to align with the National Development Strategy for 2024 to 2028. Conducted at the Berjaya Beau Vallon Bay Resort, the workshop sees participation from several key institutions such as the Fair Trading Commission and the Seychelles Revenue Commission, with training support provided by representatives from prominent organizations, including the United Nations Economic Commission for Africa (UNECA), the United Nations Development Programme (UNDP), and Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). The overarching goal of the AfCFTA is to amplify intra-African trade and enhance Africa’s stance in the global market through a unified approach to trade negotiations. This agreement aspires to establish a single market for goods and services and lays down the groundwork for a Continental Customs Union in the future. Sujitha Sekharan, a specialist from the UNDP, articulated the vast potential this agreement holds for Seychelles, enabling local businesses to find new markets and partnerships across the continent. Sekharan remarked, \u201cImagine 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.\u201d As of August 2024, a total of 54 African states have signed the AfCFTA agreement, with 48 states having ratified it, underlining the collective commitment to regional economic integration.
The African Continental Free Trade Area (AfCFTA) is an agreement aimed at creating a single continental market for goods and services within Africa. It encourages the free movement of business persons and investments, thereby striving for a more integrated and prosperous African economy. Seychelles, an island nation, ratified the agreement in 2021 and is actively working to implement the necessary strategies to benefit from increased intra-African trade.
In conclusion, the second AfCFTA national workshop in Seychelles marked a significant step forward in the nation’s efforts to reap the benefits of the continental agreement. As Seychelles engages in constructive dialogue to refine its National AfCFTA Implementation Strategy, the potential for economic growth through enhanced trade opportunities with fellow African nations becomes increasingly tangible. The continued collaboration among various stakeholders will be crucial in achieving effective implementation and fostering a competitive economic environment.
Original Source: www.seychellesnewsagency.com
