Seychelles has launched its second national workshop on the AfCFTA, focusing on developing its implementation strategy. The workshop allows for stakeholder feedback on the strategy draft, essential for enhancing industrial growth and competitiveness in the African market. Minister Naadri Hassan emphasized the importance of participation in the strategy’s development, while UNDP insights revealed the potential for expanded market access for local businesses. With AfCFTA ratification increasing, collaboration among African states signifies a commitment to boosting intra-African trade.
Seychelles has commenced its second national workshop on the African Continental Free Trade Area (AfCFTA), aimed at facilitating the effective implementation of the AfCFTA agreement within the nation. Following the initial workshop conducted in September, this session focuses on devising the implementation strategy tailored for Seychelles. Senior Trade Officer Veronique Brutus indicated that the strategy draft will be reviewed during this workshop, allowing participants to contribute feedback to enhance the implementation process. In his remarks, Minister of Finance, National Planning and Trade, Naadri Hassan highlighted the necessity of a participatory approach in developing the National AfCFTA Implementation Strategy. The goal is to foster consensus and consider the diverse needs and interests of stakeholders. Hassan emphasized the potential of the strategy to bolster Seychelles’ industrialization, job creation, and overall competitiveness within the African market. The workshop is being held at the Berjaya Beau Vallon Bay Resort with participation from various institutions, including the Fair Trading Commission and Seychelles Revenue Commission. Furthermore, training is being provided by representatives from the United Nations Economic Commission for Africa (UNECA), the United Nations Development Programme (UNDP), and the German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). The AfCFTA aims to promote intra-African trade and enhance Africa’s global trading status by consolidating a common market for goods and services. As articulated by UNDP’s Sujitha Sekharan, the agreement presents an opportunity for Seychelles to access a vast customer base across 54 countries, supporting local entrepreneurs in expanding their business reach beyond national borders. With 54 African states signing the agreement and 48 ratifying it as of August 2024, the AfCFTA stands to significantly ease trade among member countries, fostering an environment for collaboration and economic growth.
The African Continental Free Trade Area (AfCFTA) is a key initiative aimed at enhancing trade relations among African nations by establishing a single continental market. Seychelles, supporting this initiative, ratified the AfCFTA in 2021, which aims to bolster intra-African trade and subsequently strengthen its trade position in the global market by facilitating free movement of goods, services, and investments across borders. The national workshops, including the current one, are central to developing effective implementation strategies that will align with both national development goals and regional economic integration efforts.
In summary, the second national workshop on the AfCFTA in Seychelles marks a critical step toward advancing the country’s trade strategy and economic integration within the region. By fostering stakeholder collaboration and constructive feedback, Seychelles aims to effectively implement the AfCFTA agreement, which holds the promise of expanded market access and sustainable economic growth for local industries. The collective efforts of various institutions and international partners further illustrate the commitment to enhancing regional trade dynamics.
Original Source: www.seychellesnewsagency.com
