Seychelles Entered the African Continental Free Trade Area Agreement

Seychelles is a small island located in the Indian Ocean, close to the African continent, which means its main trading relation is with mainland Africa. This is the reason why Seychelles entered the African Continental Free Trade Area, simply known as AfCFTA, the first agreement between African countries which enables them to engage into advantageous trading activities. Our company formation consultants in Seychelles can offer information how to start a trading business in this country.

44 African countries have entered AfCFTA

The African Union is one of the organization which hosts a large number of countries – 55 – out of which 44 have also entered the African Continental Free Trade Area. Starting with the end of March, Seychelles has become one of these countries.

The new agreement provides for a free trade zone for African countries, and it is until now the largest agreement of its kind since the World Trade Organization.

For Seychelles, AfCFTA will mean more quality products coming from its neighboring countries, but also more expansion possibilities for local companies.

Our local advisors can also help foreign investors who want to set up offshore companies in Seychelles.

Private companies in Seychelles will also be able to tap into AfCFTA

The agreement brings many benefits for Seychelles, not only from an import point of view, but it will also mean that private companies in the country will be able to engage into trading relation with companies on the African continent.  One of the most important benefits of the agreement would imply farming land in an African country for Seychelles companies interested in this field.

The exports of Seychelles companies are expected to reach new growths, as according to official numbers, these will be able to serve a 1 billion people market which together has a total worth of more than 3,4 trillion USD.

Until that happens, Seychelles will have to create a set of internal regulations, as well as new standards for the goods to be traded.

The African Continental Free Trade Area is currently pending ratification.

Foreign investors who want to start doing business in Seychelles can rely on our representatives for assistance in registering companies, so do not hesitate to contact us.