On September 17, 2024, UNDP Seychelles, alongside government officials, UNECA, GIZ, and local stakeholders, held a national workshop to discuss the development of Seychelles' implementation strategy for the African Continental Free Trade Agreement (AfCFTA).
Catalysing economic transformation in Seychelles: UNDP partners with UNECA and GIZ to support the development of Seychelles National AfCFTA Implementation Strategy.
September 18, 2024
On September 17, 2024, UNDP Seychelles joined representatives from the Government of Seychelles, the United Nations Economic Commission for Africa (UNECA), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), and key local stakeholders for a national consultative workshop. The workshop focused on developing the Seychelles National African Continental Free Trade Agreement (AfCFTA) Implementation Strategy.
Throughout the one-day event, participants were introduced to the AfCFTA implementation process and explored the opportunities and potential impacts of trading with African partners under AfCFTA. Stakeholders collaborated to establish a timeline and identify key milestones for finalizing the Seychelles National AfCFTA Implementation Strategy. This workshop marks the first of three planned sessions aimed at equipping the National Committee and private sector representatives with critical knowledge on trade and investment rules, instruments, and procedures tied to AfCFTA, to accelerate the agreement’s implementation.
Speaking on behalf of the Minister of Finance, Mr Ricky Barbe emphasized that the National AfCFTA Implementation Strategy will align closely with Seychelles' National Development Strategy, which underscores the need for a conducive trade environment and enhanced local productivity.
Ms. Sujitha Sekharan, Programme and Operations Specialist for the UNDP Mauritius and Seychelles Multi-country Office, acknowledged the contributions of UNECA and GIZ, highlighting their expertise in research, analytics, and sustainable economic development, as well as their efforts to strengthen private sector trade capacities for smooth AfCFTA integration.
Seychelles’ Path to Economic Growth Through AfCFTA: Opportunities and Challenges
Seychelles was one of 44 African nations to sign the AfCFTA agreement in Kigali on March 21, 2018. As a small island nation, its participation in AfCFTA presents both opportunities and challenges, given its unique economic, geographic, and social characteristics. The agreement offers Seychelles the potential to expand market access, attract investment, and grow various sectors. With sustainable management, the development of key industries such as tourism, fisheries, and marine resources under AfCFTA could play a significant role in boosting the country's economy.
UNDP continues to support countries like Seychelles by offering policy advice, technical assistance, and strengthening national and institutional frameworks to align with both national and global development priorities.