Seychelles has launched its second national workshop on the AfCFTA, focusing on implementing the agreement ratified in 2021. The workshop aims to refine the implementation strategy through stakeholder feedback and collaboration. Participating institutions include the Fair Trading Commission and the Seychelles Revenue Commission, with support from international organizations. The AfCFTA seeks to enhance intra-African trade and market access for Seychellois businesses, benefiting the overall economy.
Seychelles has recently inaugurated its second national workshop focused on the African Continental Free Trade Area (AfCFTA), aimed at enhancing the implementation of the AfCFTA agreement in the country. Following Seychelles’ ratification of the agreement in 2021, this workshop seeks to build upon the foundation laid during the first workshop, conducted in September. Senior trade officer Veronique Brutus indicated that participants will discuss the implementation strategy for Seychelles, with support from various consultants. The workshop serves as a platform for presenting a draft of the implementation strategy and soliciting feedback from attendees to refine it for better application. Minister of Finance, National Planning and Trade, Naadri Hassan highlighted that the National AfCFTA Implementation Strategy would serve as a crucial tool for Seychelles to effectively leverage the opportunities of the AfCFTA, emphasizing the importance of collective stakeholder involvement in developing the strategy. The event took place at the Berjaya Beau Vallon Bay Resort, attracting participants from multiple institutions, including the Fair Trading Commission and the Seychelles Revenue Commission. Representatives from the United Nations Economic Commission for Africa (UNECA), United Nations Development Programme (UNDP), and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) facilitated the training. The overarching goal of the AfCFTA is to enhance intra-African trade and strengthen the continent’s position within the global market. As of August 2024, 54 African countries have signed the agreement, with 48 having ratified it, marking a significant step towards creating a unified market across Africa. Sujitha Sekharan from UNDP emphasized the new opportunities presented to Seychellois businesses under this agreement, particularly in terms of market access and trade facilitation with other African nations.
The African Continental Free Trade Area (AfCFTA) represents a landmark initiative aimed at fostering economic integration across the African continent. The agreement envisions the establishment of a single market for goods and services, thus enhancing trade among African nations. With Seychelles ratifying the AfCFTA agreement in 2021, the country is now actively engaging in workshops to strategize its implementation effectively. The second national workshop represents a continuation of this effort, aiming to refine the implementation strategy through stakeholder involvement and feedback.
The second national workshop on the AfCFTA in Seychelles underscores the nation’s commitment to effectively integrating into the African trade ecosystem. By fostering participation and collaborative strategy development, Seychelles aims to capitalize on the economic opportunities afforded by the AfCFTA. This initiative not only has implications for enhancing trade but also stands to significantly bolster Seychelles’ industrial capacity and job creation in the long term.
Original Source: www.seychellesnewsagency.com
