Seychelles prepares AfCFTA implementation strategy with expert input
General |Author: Rita Joubert-Lawen Edited by: Betymie Bonnelame | September 18, 2024, Wednesday @ 09:43| 4025 views
Participants at the workshop will help Seychelles to come up with a comprehensive implementation strategy. (Seychelles News Agency)
(Seychelles News Agency) - The Seychelles' authorities are to have an African Continental Free Trade Area (AfCFTA) strategy draft ready by next month and a workshop with key partners was organised on Monday to gather relevant information.
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.
Jean-Paul D'Offay, principal trade officer in the Ministry of Finance, National Planning and Trade, told reporters that the workshop will also give participants a chance to learn more about the AfCFTA such as its background, opportunities and its relevance.
During the meeting, participants will also "provide critical feedback in the development of the strategy and assist Seychelles to fully implement the agreement along with its various protocols and annexes and reap the full potentials from it," he added.
D'Offay said, "The involvement of participants from diverse sectors of the economy will surely help to forth constructive ideas and thoughts for the development of our strategy."
He added that the participants will help Seychelles to come up with a comprehensive implementation strategy.
The finance authorities are working with the United Nations Development Programme (UNDP), the United Nations Economic Commission for Africa (UNECA) and the German development company Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) to draft the implementation strategy.
Also, Danilo Desidero from the World Bank will be working closely to draft the implementation strategy.
The draft will be shown to the stakeholders, who will be able to provide their feedback on the document before the country validates its implementation strategy.
"We are hoping to be able to send the validated document to the Cabinet of Ministers in November for approval, allowing us to push forward with the implementation," he said.
As of August 2024, 54 African states have signed the agreement while 48 members have ratified it.