Seychelles hosts 2nd AfCFTA national workshop on trade with Africa
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Seychelles has launched the second national workshop on the African Continental Free Trade Area (AfCFTA), which will help the island nation in its implementation of the AfCFTA agreement. Seychelles ratified the AfCFTA agreement in 2021, which aims to createSeychelles hosts 2nd AfCFTA national workshop on trade with Africa
Seychelles has launched the second national workshop on the African Continental Free Trade Area (AfCFTA), which will help the island nation in its implementation of the AfCFTA agreement. Seychelles ratified the AfCFTA agreement in 2021, which aims to create a single continental market for goods and services, with free movement of business people and investments, while paving the way for accelerating the establishment of a customs union. The first of a series of three workshops took place in September and this second workshop will continue the work done previously. «The workshop today will see us look at the implementation strategy for Seychelles, where we are working with various consultants who will guide us through this process,» said Veronique Brutus, the senior trade officer at the Department of Trade. During the workshop, the draft of the strategy will be presented to participants who will be able to give their opinions and suggestions, to ensure that Seychelles can proceed with the implementation in the best possible way. In his address, the Minister of Finance, National Planning and Trade, Naadri Hassan, said that the National AfCFTA Implementation Strategy for Seychelles will be a critical enabler for Seychelles to effectively engage with and benefit from the AfCFTA. “The development of the Strategy requires a participatory approach to promote consensus building and ownership among the stakeholders to ensure that the needs and interests of different actors are considered. Your constructive participation in this process will help create synergies towards achieving the common objective of implementing the AfCFTA in an effective, inclusive and sustainable manner,” he shared. Hassan stressed that “The effective implementation of the strategy has the ability to enhance Seychelles' potential to foster industrialisation, job creation, and investment, thus enhancing the competitiveness of Seychelles in the African region in the medium to long term. This should be consistent with the National Development Strategy 2024-2028.” Held at the Berjaya Beau Vallon Bay Resort, several institutions are participating including the Fair Trading Commission, the Seychelles Revenue Commission, and others. The training is being facilitated by representatives from the United Nations Economic Commission for Africa (UNECA), the United Nations Development Programme (UNDP), and the German development company Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). The AfCFTA aims at accelerating intra-African trade and boosting Africa's trading position in the global market by strengthening Africa's common voice and policy space in global trade negotiations. It seeks to create a single market for goods, and services, facilitated by the movement of persons in order to deepen the economic integration of the African continent, create a liberalised market for goods and services, as well as lay the foundation for the establishment of a Continental Customs Union at a later stage. «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,» said Sujitha Sekharan, the UNDP programme and operations specialist, in her opening address. «Imagine the potential for our fishermen, farmers, and artisans to sell their products to a wide audience, boosting our economy and creating jobs in the process,» she added. Sekharan shared that this agreement also makes trade between Seychelles and its African neighbours much easier, while also giving Seychellois businesses the opportunity to learn and exchange ideas with other member nations. As of August 2024, 54 African states have signed the agreement while 48 members have ratified it. Read more
