Seychelles has launched its second national workshop on the AfCFTA to develop an implementation strategy following its ratification in 2021. Finance Minister Naadri Hassan emphasized the importance of stakeholder engagement in crafting the strategy. The workshop aims to enhance trade opportunities and economic growth within the framework of the AfCFTA, which seeks to create a unified market across Africa for goods and services.
Seychelles has inaugurated its second national workshop on the African Continental Free Trade Area (AfCFTA) as part of its strategy to effectively implement the AfCFTA agreement ratified in 2021. This workshop, held in Victoria at the Berjaya Beau Vallon Bay Resort, follows an initial session conducted in September and focuses on crafting an implementation strategy involving multiple local stakeholders and consultants. Veronique Brutus, the senior trade officer, emphasized the necessity of soliciting input from workshop participants to refine the draft strategy. In a statement by Finance Minister Naadri Hassan, it was highlighted that the National AfCFTA Implementation Strategy is pivotal for Seychelles to engage meaningfully with the broader AfCFTA framework, which aims to enhance regional trade. Hassan noted the participatory approach required to ensure the diverse interests of stakeholders are represented, fostering synergy towards effective and sustainable implementation aligned with the National Development Strategy 2024-2028. The workshop involved contributions from various local institutions, facilitated by experts from the United Nations Economic Commission for Africa (UNECA), the United Nations Development Programme (UNDP), and the German development company GIZ. The AfCFTA seeks to establish a unified market across Africa, benefitting over 1.3 billion people by fostering economic integration and enhancing the capabilities of local businesses to reach new markets. Sujitha Sekharan, a UNDP programme and operations specialist, remarked on the potential advantages for Seychellois industries, stating, “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.” The workshop’s objectives align with increasing trade efficiency among African nations, ultimately creating opportunities for job creation and economic development.
The African Continental Free Trade Area (AfCFTA) is a significant initiative aimed at enhancing trade among African nations by creating a single market for goods and services. Ratified by Seychelles in 2021, the AfCFTA represents a collective effort to promote economic integration across the continent, enabling the free movement of goods, people, and investments. Seychelles’ commitment to this agreement is exemplified through the organization of national workshops designed to facilitate the implementation of trade strategies and encourage stakeholder engagement.
In summary, Seychelles’ second national workshop on the AfCFTA underscores the nation’s commitment to harnessing the benefits of continental trade integration. By engaging local stakeholders and consultants in developing an implementation strategy, Seychelles aims to capitalize on the opportunities afforded by the AfCFTA. This proactive approach is anticipated to enhance the island’s economic landscape, fostering job creation and facilitating access to broader markets for local enterprises.
Original Source: www.seychellesnewsagency.com
