The second national workshop on the AfCFTA in Seychelles focuses on developing an implementation strategy to bolster trade engagement and economic growth. With input from various stakeholders, the workshop aims to facilitate access to larger markets and enhance industrialization and job creation in line with national development plans.
Seychelles has commenced its second national workshop on the African Continental Free Trade Area (AfCFTA) aimed at facilitating the implementation of the AfCFTA agreement, which was ratified by the country in 2021. This initiative seeks to establish a singular continental market for goods and services, enhancing the movement of business individuals and investments and promoting the formation of a customs union. The recent workshop, hosted at the Berjaya Beau Vallon Bay Resort, builds upon the initial workshop held in September and focuses on devising an implementation strategy tailored for Seychelles. Veronique Brutus, the senior trade officer at the Department of Trade, noted the collaborative nature of this strategy development, involving consultations with various experts to ensure strong stakeholder input. During the event, participants will review a draft strategy that will allow for feedback on the most effective implementation methods for Seychelles. Finance, National Planning, and Trade Minister Naadri Hassan emphasized the significance of the National AfCFTA Implementation Strategy as a vital tool for enhancing Seychelles’ engagement in the broader African trade landscape. Minister Hassan asserted, “The 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. This should be consistent with the National Development Strategy 2024-2028.” Institutions such as the Fair Trading Commission and the Seychelles Revenue Commission are participating in this collaborative effort, complemented by training provided by representatives from UNECA, UNDP, and GIZ. The overarching goal of the AfCFTA is to facilitate intra-African trade and strengthen Africa’s position in global markets, ultimately benefiting member nations through economic integration. Sujitha Sekharan, a program and operations specialist with the UNDP, highlighted the potential of the AfCFTA by stating, “The AfCFTA opens up a vast market of over 1.3 billion people across 54 countries. For Seychelles, this means access to new customers and partners, allowing our local businesses to expand their reach beyond our shores.”
The African Continental Free Trade Area (AfCFTA) is a significant trade agreement aimed at creating a unified market across African nations by fostering free trade among member states. Seychelles ratified the AfCFTA in 2021, allowing the island nation to align its trade policies with broader continental objectives. This workshop series is part of the efforts to establish an effective implementation strategy for the AfCFTA, which is crucial for Seychelles to compete globally and enhance economic growth.
In summary, Seychelles’ second national workshop on the AfCFTA marks a vital step towards the effective implementation of the trade agreement. With a focus on collaboration, stakeholder engagement, and strategic planning, the initiative seeks to bolster Seychelles’ trade capabilities within the continental framework. The anticipated outcomes include enhanced access to new markets, increased industrialization, and potential job creation, aligning with national development goals.
Original Source: www.seychellesnewsagency.com
