Mr Alan Kyerematen, Minister of Trade and Industry, has revealed that the AfCFTA protocol on services has been negotiated as part of the first phase of the negotiations.
According to him, AfCFTA will provide a vital platform to guide Africa’s post-Covid-19 economic recovery effort.
Mr Kyerematen made this revelation at the maiden AfCFTA – Angola Business Investment Forum in Accra.
Furthermore, he noted that the framework of AfCFTA, Ghana and Angola have a lot to gain from working together in fields such as agriculture, fisheries and livestock.
Also, he revealed that areas such as industry, oil and gas, the petrochemical industry, value addition to their mineral resources, development of energy resources, particularly renewable energy and the FinTech industry will equally be beneficial
“In this regard, it is worth noting that the AfCFTA Protocol on services covering five priority sectors namely; transport, communication, financial services, tourism, and business services, which have been negotiated as part of the Phase One of the AfCFTA Negotiations, have the potential of creating a robust ecosystem for supporting the productive sectors of African countries.”
Alan Kyerematen
Ghana and Angola working relations
Following this, the Trades Minister explained that Ghana and Angola are the second and third largest producers of cassava in the world, with Nigeria taking the lead.
With this, he revealed that both countries have had a shared cordial relationship for many decades. Mr Kyerematen noted that the relations are based on shared values, mutual respect, and common heritage as Africans.
Following this, he indicated that the fraternal relations have been strengthened even further with high level official visits between the two countries.
“Exactly two years ago, the President of Ghana paid an official visit to Angola and this week, we have the privilege of hosting the President of Angola.”
Alan Kyerematen
Admittedly, Mr Kyerematen acknowledged the support received from the government of Angola for Ghana’s bid to host the AfCFTA Secretariat.
“It is no longer a matter of international public debate that Africa is rising. Yes, Africa is indeed rising because of the commitment and dedication of a new generation of African leaders who are leading the Africa Renaissance, and this includes President Nana Addo Dankwa Akufo- Addo and President Gonçalves Lourenço.
“It is the zeal and determination of our leaders, which has led to the historic decision to establish the AfCFTA, the largest trading bloc outside the World Trade Organization”.
Alan Kyerematen
Harmonising trade in goods and services
On his part, the Secretary-General of the AfCFTA Secretariat, Wamkele Mene, noted that the AfCFTA is set to successfully synchronise trade in goods and services.
This, he revealed, will be in addition to improving the business environment by reducing tariff and non-tariff barriers on the continent.
Likewise, Mr Wamkele Mene expressed that the move marked a new trade and investment era for Africa. According to him, this also proffers a wide range of possibilities for businesses across various sectors in the member states.
“I am confident that this new dawn of continental integration presented for both Angolan and Ghanaian companies in multiple sectors including agriculture, fisheries and aquaculture, petroleum and hydrocarbon activities, environment, science and technology, and tourism will be utilised effectively”.
Wamkele Mene
Read Also: Nigeria’s Petroleum bill likely to boost long-term oil production
