Seychelles has launched its second national workshop on the AfCFTA, aiming to establish a cohesive strategy for implementation. This workshop builds upon previous discussions and involves stakeholder participation to refine the draft strategy. The AfCFTA is set to enhance intra-African trade, creating new opportunities for Seychelles within a market of over 1.3 billion people, fostering economic growth and sustainability.
Seychelles has initiated its second national workshop focused on the African Continental Free Trade Area (AfCFTA), a critical step towards effective implementation of the agreement. Following its ratification in 2021, the AfCFTA aims to establish a unified market for goods and services across Africa, facilitating free movement for businesses and investments while advancing the formation of a customs union. This workshop, held at the Berjaya Beau Vallon Bay Resort, builds upon the first workshop conducted in September and is designed to refine Seychelles’ implementation strategy with input from various stakeholders and consultants. Veronique Brutus, a senior trade officer within the Department of Trade, emphasized the importance of collaborative efforts in developing an effective strategy. The session aims to involve participants in reviewing the draft strategy, encouraging their feedback to enhance the implementation process. Minister of Finance, National Planning, and Trade, Naadri Hassan, highlighted that this strategy will be essential for Seychelles to engage comprehensively with the AfCFTA, advocating for a participatory approach that takes into account diverse stakeholder interests. During her address, Sujitha Sekharan, a UNDP programme specialist, underscored the economic opportunities afforded by the AfCFTA, declaring that it opens access to a market of over 1.3 billion people across 54 countries. She noted, “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.” The event featured participation from several local institutions, including the Fair Trading Commission and the Seychelles Revenue Commission, with training facilitated by experts from UNECA, UNDP, and GIZ. The AfCFTA’s goal is to accelerate intra-African trade while enhancing Africa’s competitiveness in global markets, which is vital for economic growth and sustainability in Seychelles and across the continent.
The African Continental Free Trade Area (AfCFTA) represents a significant effort to unify the African market, promoting intra-regional trade through the elimination of tariffs and trade barriers. Ratified by Seychelles in 2021, the agreement is part of a broader initiative to foster economic integration across the continent. The workshops being conducted are pivotal in ensuring that Seychelles is well-prepared to implement the framework of this agreement effectively, thereby enhancing its trade relations and economic opportunities in coordination with other African nations.
In summary, Seychelles’ second workshop on the AfCFTA underscores the nation’s commitment to effectively implement the agreement, which is crucial for fostering economic growth and integration within the African continent. The participatory strategy development process promotes stakeholder engagement while aligning with the country’s National Development Strategy and broader economic objectives. The AfCFTA holds promise for enhancing Seychelles’ market access and facilitating sustainable development through increased trade and investment opportunities. The collaborative effort reflects a strategic approach towards enhancing Seychelles’ competitiveness in the global market.
Original Source: www.seychellesnewsagency.com
