Seychelles Advances AfCFTA Implementation with Second National Workshop
Seychelles has launched its second national workshop on the AfCFTA to develop an implementation strategy for the trade agreement, ratified in 2021. Participants will review a draft strategy to maximize engagement with the AfCFTA, enhancing market access and economic growth. Various local institutions and international representatives are involved in the training, aiming to streamline trade processes and foster economic collaboration among African nations.
Seychelles has commenced its second national workshop focused on the African Continental Free Trade Area (AfCFTA), which is pivotal for the country’s contractual obligations under the AfCFTA agreement ratified in 2021. The workshop aims to guide Seychelles in implementing the AfCFTA agreement, thereby facilitating the creation of a unified market for goods and services across Africa. The first workshop was held in September, and this current session builds upon the previously established groundwork. In her comments, Veronique Brutus, the senior trade officer at the Department of Trade, articulated that this workshop will assist in drafting an implementation strategy for Seychelles, supported by various consultants. Participants will engage in a collaborative review of the draft strategy to enhance its effectiveness. Finance Minister Naadri Hassan emphasized the significance of the National AfCFTA Implementation Strategy, identifying it as a key instrument that will empower Seychelles to derive full benefits from the AfCFTA. Hassan remarked on the necessity of a collaborative approach throughout this process, noting that such participation will foster agreement among stakeholders and ensure diverse perspectives are acknowledged. He asserted, “The effective implementation of the strategy has the ability to enhance Seychelles’ potential to foster industrialization, job creation, and investment, thus enhancing the competitiveness of Seychelles in the African region in the medium to long term.” The workshop, hosted at the Berjaya Beau Vallon Bay Resort, featured participation from several institutions including the Fair Trading Commission and Seychelles Revenue Commission. It was facilitated by representatives from the United Nations Economic Commission for Africa (UNECA), the United Nations Development Programme (UNDP), and Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). The AfCFTA is designed to accelerate intra-African trade and enhance Africa’s standing in global markets by fostering a unified voice in trade negotiations. It envisages a marketplace catering to over 1.3 billion people across 54 member countries. Sujitha Sekharan from UNDP highlighted the tremendous potential this offers to Seychellois businesses, stating that it allows local producers such as fishermen and artisans to reach broader markets, ultimately boosting the economy. As of August 2024, 54 African states have signed the AfCFTA agreement, with 48 ratifications made to date. The initiative not only simplifies trade amongst member nations but also promotes knowledge exchange, further enriching the economic landscape.
The African Continental Free Trade Area (AfCFTA) represents a significant step towards economic integration among African nations. Introduced to facilitate a free market across the continent, this agreement aims to eliminate tariffs on the majority of goods produced in member countries, thereby enhancing intra-African trade. Seychelles, through its ratification of the AfCFTA agreement, positions itself strategically to benefit from increased market access and to contribute to Africa’s overall economic development. The national workshops serve as a platform for stakeholders in Seychelles to collaboratively develop and refine their trade strategies in alignment with the objectives of the AfCFTA.
In summary, the second national workshop on the AfCFTA in Seychelles underscores the nation’s commitment to embracing a unified market for trade across Africa. With collaborative efforts from various stakeholders, Seychelles aims to forge a comprehensive implementation strategy that will facilitate economic growth, job creation, and increased competitiveness within the continental marketplace. The AfCFTA represents not just a trade agreement but an opportunity for Seychelles and other African countries to strengthen their economies through mutual cooperation and enhanced trade relations.
Original Source: www.seychellesnewsagency.com
