Seychelles has initiated its second AfCFTA national workshop aimed at implementing the African Continental Free Trade Area agreement. The workshop will build upon previous discussions and focus on developing a comprehensive implementation strategy. Various stakeholders are engaged in this process to ensure a collaborative approach towards maximizing benefits from intra-African trade. Key players from international organizations will facilitate the workshops, emphasizing Seychelles’ potential for economic growth and increased market access.
Seychelles has recently commenced its second national workshop on the African Continental Free Trade Area (AfCFTA), aimed at facilitating the country’s implementation of the AfCFTA agreement. Ratified in 2021, this agreement is designed to foster a unified continental market for goods and services, promote investment, and enhance the free movement of businesspersons. This current workshop continues from a previous one held in September, focusing on developing an implementation strategy tailored for Seychelles. According to Veronique Brutus, the senior trade officer at the Department of Trade, this workshop will concentrate on outlining a practical implementation strategy. Participants will review a draft strategy presented during the workshop, allowing for collaborative feedback to enhance Seychelles’ approach to implementing the AfCFTA effectively. Further reinforcing this initiative, Naadri Hassan, the Finance, National Planning, and Trade Minister, emphasized that an inclusive methodology will foster consensus among stakeholders, crucial for aligning with the National Development Strategy 2024-2028. Held at the Berjaya Beau Vallon Bay Resort, the workshop involves multiple institutions, such as the Fair Trading Commission and Seychelles Revenue Commission, with facilitation provided by UN bodies and development organizations. The broader goal of the AfCFTA is to stimulate intra-African trade and enhance Africa’s negotiating power in global trade frameworks. Sujitha Sekharan, a UNDP programme and operations specialist, highlighted the AfCFTA’s potential to unlock markets for Seychellois businesses, envisioning new opportunities for local industries to broaden their customer base and foster economic growth. Furthermore, trade within the continent is becoming significantly easier, promising access to valuable exchanges of ideas and practices between Seychelles and its African partners. As of August 2024, the AfCFTA has garnered signature support from 54 African states, with 48 members having completed ratification, signifying a strong commitment to fostering continental trade developments.
The African Continental Free Trade Area (AfCFTA) represents a major advancement towards economic integration across the African continent. Established to create a seamless market for goods and services, the agreement anticipates the removal of tariffs and trade barriers, thereby encouraging investment and fostering a competitive economic environment. Seychelles, by ratifying this agreement, aligns itself with the broader initiative to enhance collaborative trade practices among African nations, ultimately aiming at economic growth and sustainability. The ongoing workshops are vital in ensuring that Seychelles formulates a cohesive strategy to embrace the opportunities presented by the AfCFTA. These workshops not only provide a platform for building an implementation framework but also engage various stakeholders, including government agencies and private sector representatives, facilitating a collective approach to trade development.
In conclusion, Seychelles’ second AfCFTA national workshop is a significant step toward leveraging the benefits of the African Continental Free Trade Area. With a focus on stakeholder collaboration, the workshop aims to produce an effective implementation strategy that aligns with the nation’s development goals. The commitment demonstrated by the government and institutions involved highlights a proactive approach to enhancing Seychelles’ economic competitiveness within the African region. Feedback from participants is anticipated to refine the strategy for impactful trade relations across the continent.
Original Source: www.seychellesnewsagency.com
