Seychelles Launches Second National AfCFTA Workshop to Enhance Trade Engagement

Seychelles has commenced its second national workshop on the African Continental Free Trade Area (AfCFTA), building on earlier discussions to develop a comprehensive implementation strategy. The event includes feedback sessions for attendees and involves various local and international stakeholders, emphasizing the importance of mutual cooperation in achieving the AfCFTA’s objectives.

Seychelles has initiated its second national workshop focused on the African Continental Free Trade Area (AfCFTA), aimed at advancing the implementation of the AfCFTA agreement ratified by the nation in 2021. This agreement seeks to establish a unified market for goods and services across the continent, facilitating the free movement of businesses and investments while supporting the establishment of a customs union. Following the inaugural workshop held in September, this current session will build on the prior discussions with the objective of formulating a comprehensive implementation strategy. Veronique Brutus, Senior Trade Officer at the Department of Trade, stated that the workshop aims to refine the implementation plan for Seychelles. Participants will have the opportunity to review the draft strategy and provide feedback, ensuring that the approach reflects the collective interests of all stakeholders. Minister of Finance, National Planning and Trade, Naadri Hassan, underscored the importance of a participatory approach in developing this national strategy. He noted that effective engagement from stakeholders is essential to address the varying needs and interest, enhancing Seychelles’ competitive position within the African market. The workshop convened at the Berjaya Beau Vallon Bay Resort and involved participation from various local institutions alongside representatives from international organizations, including the United Nations Economic Commission for Africa (UNECA), the United Nations Development Programme (UNDP), and Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). The overarching aim of the AfCFTA is to facilitate intra-African trade, thereby improving Africa’s stature in the global market. By establishing a single market, the initiative seeks to improve economic integration across the continent and set the groundwork for a Continental Customs Union in the future. UNDP programme specialist Sujitha Sekharan remarked, “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.” As of August 2024, 54 African nations have signed onto the AfCFTA, with 48 having completed ratification, reinforcing the continent’s commitment to economic collaboration and development.

The African Continental Free Trade Area (AfCFTA) is an ambitious initiative aimed at fostering economic integration and enhancing trade among African nations. Ratified in 2021, the agreement was designed to create a single continental market facilitating the free movement of goods, services, and investments. This workshop series is crucial for nations like Seychelles to establish effective strategies for engaging with the AfCFTA and reaping its economic benefits.

In summary, the second national workshop on the AfCFTA held in Seychelles signifies a commitment to enhancing trade relations and economic integration within the African continent. With an emphasis on stakeholder participation and strategic development, Seychelles aims to leverage the AfCFTA as a catalyst for industrial growth, job creation, and improved competitiveness in regional markets.

Original Source: www.seychellesnewsagency.com