Seychelles Hosts Second National Workshop on AfCFTA Implementation
Seychelles has initiated its second national workshop on the AfCFTA, following its ratification in 2021. This workshop focuses on developing an implementation strategy essential for enhancing trade and investment opportunities. Stakeholder engagement and feedback are emphasized to ensure the strategy addresses diverse needs and promotes economic growth. The AfCFTA aims to create a substantial market across Africa, boosting Seychelles’ global trade presence.
Seychelles recently commenced its second national workshop on the African Continental Free Trade Area (AfCFTA), aimed at facilitating the nation’s adherence to the AfCFTA agreement ratified in 2021. The workshop serves as a continuation of prior discussions focusing on creating a unified market across Africa, enhancing trade and investment opportunities. Veronique Brutus, Senior Trade Officer in the Department of Trade, emphasized the workshop’s objective: developing an implementation strategy for Seychelles, collaborating with consultants to guide the process. During this session, participants reviewed a draft strategy, providing feedback to ensure efficient implementation in alignment with national interests. Finance Minister, Naadri Hassan, identified the National AfCFTA Implementation Strategy as pivotal for Seychelles’ engagement with the continental trade framework. He noted the participatory approach necessary for the strategy’s development, which aims to cultivate consensus among stakeholders. Such collaborative efforts are crucial to addressing diverse needs and ensuring sustainable implementation. The significance of this strategy lies in its potential to enhance industrialisation, job creation, and investment in Seychelles, thereby improving the country’s competitiveness in the African market. The workshop took place at the Berjaya Beau Vallon Bay Resort, with representation from various local organizations and support from international agencies. The AfCFTA is designed to bolster intra-African trade, creating a substantial market of 1.3 billion people across 54 nations. Sujitha Sekharan from the UNDP stressed the opportunities for Seychellois businesses to access broader markets, paving the way for economic growth and job creation. As of August 2024, 54 African states have signed the agreement, with 48 states ratifying it.
The African Continental Free Trade Area (AfCFTA) is a landmark agreement designed to facilitate economic integration across the continent by creating a single market for goods and services and promoting free movement of people. Ratified by Seychelles in 2021, AfCFTA aims to deepen economic ties, enhance competitiveness, and foster localized business expansion among African states. The ongoing workshops are crucial for Seychelles to align its trade practices with broader continental policies, ensuring that the country is well-prepared to leverage the opportunities presented by this agreement.
The ongoing workshops in Seychelles represent a significant step towards the nation’s effective participation in the AfCFTA framework. Through collaborative strategies and stakeholder engagement, Seychelles aims to fully harness the benefits of this agreement. With rigorous implementation, the National AfCFTA Implementation Strategy is poised to enhance economic activity, promote industrialisation, and create new opportunities for growth within the region, ultimately consolidating Seychelles’ competitive position in the African market.
Original Source: www.seychellesnewsagency.com
