Seychelles Advances AfCFTA Implementation with 2nd National Workshop

Seychelles has launched its second national workshop on the AfCFTA to advance the implementation of the agreement ratified in 2021, aimed at creating a continental market for goods and services. The workshop focused on developing a strategy that incorporates stakeholder feedback while highlighting the importance of regional economic integration and trade expansion opportunities for local industries.

Seychelles recently held its second national workshop on the African Continental Free Trade Area (AfCFTA) in Victoria, aimed at advancing the country’s implementation of the AfCFTA agreement ratified in 2021. This agreement seeks to establish a single market for goods and services across Africa, facilitating the movement of people and investments while promoting economic integration among member states. The workshop, part of a series of three, builds on prior discussions and focuses on developing a robust implementation strategy that incorporates input from various stakeholders to ensure effective execution. During the workshop, Veronique Brutus, a senior trade officer at the Department of Trade, emphasized the importance of strategic planning in this process, while participants discussed a draft of the implementation strategy, sharing insights to enhance the plan’s effectiveness. Minister of Finance, National Planning and Trade, Naadri Hassan, highlighted that the National AfCFTA Implementation Strategy would be pivotal for Seychelles to fully engage in and capitalize on the opportunities provided by the AfCFTA. Hassan advocated for a participatory approach to the strategy’s development, ensuring all stakeholders’ voices are heard to promote inclusivity and collaboration towards common goals. He further noted that a successful implementation could significantly drive industrialization, job growth, and overall competitiveness within the African market. The workshop took place at the Berjaya Beau Vallon Bay Resort and involved various institutions, including the Fair Trading Commission and the Seychelles Revenue Commission, with training provided by experts from UNECA, UNDP, and GIZ. Sujitha Sekharan, a program and operations specialist at UNDP, expressed that the AfCFTA presents Seychelles with vast new market opportunities and the potential for local industries to flourish by accessing a customer base exceeding 1.3 billion people across 54 African nations. This access could bolster the economies of Seychelles’ fishermen, farmers, and artisans, further enhancing trade with neighboring countries and fostering idea exchange among businesses.

The African Continental Free Trade Area (AfCFTA) is a significant economic framework aimed at enhancing intra-African trade by creating a single continental market for goods and services. Ratified by Seychelles in 2021, this agreement is considered a crucial step towards economic integration in Africa. The series of workshops held in Seychelles serves to fortify the understanding and strategic planning necessary for effective implementation of the agreement at the national level, facilitating participation by various stakeholders in the process and fostering increased regional collaboration.

In conclusion, the second AfCFTA workshop in Seychelles marks a significant progression in the nation’s commitment to integrating into the continental market. By fostering stakeholder collaboration and developing a comprehensive implementation strategy, Seychelles aims not only to enhance its trade capabilities but also to stimulate economic growth and job creation within the nation. Through the opportunities afforded by the AfCFTA, Seychelles stands to benefit significantly from increased market access and participation in regional trade initiatives.

Original Source: www.seychellesnewsagency.com