Seychelles has initiated its second national workshop on the African Continental Free Trade Area (AfCFTA). The workshop aims to refine the island’s implementation strategy, following its ratification of the agreement in 2021. Key stakeholders, including local institutions and international organizations, are collaborating to facilitate trade integration and economic growth through this initiative.
Seychelles has inaugurated its second national workshop focused on the African Continental Free Trade Area (AfCFTA), an initiative critical for the island’s integration into the continental trade framework. Following the ratification of the AfCFTA agreement in 2021, which aims to establish a unified market for goods and services, this workshop is part of a sequential effort to refine Seychelles’ implementation strategy. Senior Trade Officer Veronique Brutus emphasized the importance of collaboration with consultants to guide the development of this strategy. During the workshop, participants will review a draft implementation strategy designed to foster inclusivity and stakeholder engagement. Finance Minister Naadri Hassan reiterated the necessity of a participatory approach to ensure diverse interests are addressed, thereby enhancing Seychelles’ capacity for industrialization, job creation, and investment. The workshop is being conducted at the Berjaya Beau Vallon Bay Resort and includes representatives from various local institutions, as well as support from international organizations like UNECA, UNDP, and GIZ. The AfCFTA is envisioned to stimulate intra-African trade and enhance the continent’s role in global economic negotiations. By creating a single market composed of over 1.3 billion individuals across 54 nations, Seychelles stands to benefit from broader market access and networking opportunities, enabling local businesses such as fishermen and artisans to diversify their markets. This initiative will also streamline trade relations between Seychelles and its African counterparts, fostering knowledge exchange and collaborative growth.
The African Continental Free Trade Area (AfCFTA) is a landmark agreement aimed at enhancing trade among African nations. It constitutes a significant step towards economic integration on the continent, eschewing trade barriers to facilitate the movement of goods, services, and capital. Seychelles, having ratified the AfCFTA in 2021, is actively participating in workshops to establish a robust implementation strategy that will contribute to the nation’s economic development and competitiveness in the region.
In summary, the second AfCFTA national workshop in Seychelles marks a pivotal step in the nation’s trade ambitions, underscoring the necessity for stakeholder engagement in crafting an effective implementation strategy. This initiative promises to enhance Seychelles’ economic landscape by fostering industrialization, job creation, and broader market access within the African continent. The active participation of local and international entities demonstrates a concerted effort to realize the goals set out in the AfCFTA framework.
Original Source: www.seychellesnewsagency.com
