President Akufo-Addo has expressed government’s commitment to ensuring that businesses stand a strong chance of benefiting from the Africa Continental Free Trade Area (AfCFTA).
According to him, such inclusion will not only glorify businesses but will to a larger extent lead to the development of Ghana being recognized as an intrinsic manufacturing hub.
Giving a keynote address at a two days program held at the National conference center on the implementation of the African Continental Free Trade Area (AfCFTA) Agreement, he further noted the historic feat of AfCFTA in trading amongst member states.
“With the handing over ceremony I indicated that according to the AU, trading under the AfCFTA will commence from 1 January 2021… where the dismantling of tariffs for trading across Africa is expected to begin. This will be yet another historic step which should benefit all Africans. We expect the trading amongst member states of the continent that is duty free… in a market of some 1.2 billion people will boost significantly intra-African trade, stimulate investment and innovation, diversify exports, improve food security, foster structural transformation, enhance economic growth… of the African people and above all create jobs for Africa’s Youth.
“Let me reaffirm government’s determination to assist Ghanaian businesses take full advantage of the AfCFTA and to ensure that the required financial and human resources are mobilized and developed to make Ghana a new manufacturing hub and financial service center for the African continent”.
For all intents and purposes, he indicated that Ghana will jump on the implementation of opportunities presented and work rather assiduously in achieving a country beyond aid and fully independent.
“We in Ghana, cannot afford to let the window of opportunity slip in hope that the private sector facilitated and actively supported by government will be at the forefront for them to take advantage of the vast possibilities presented by the AfCFTA.
“Indeed the coming to force is the successful implementation of the AfCFTA tie in perfectly with the vision of moving our country to a situation beyond aid. That is to a self-reliant Ghana that has freed itself from a mindset of dependence, aid, charity and handouts and is determined to make intelligent, disciplined use of her considerable resources; the basis for her growth and prosperity”.
Citing various policies and projects implemented during his leadership, the one district one factory initiative, automobile assembly plants, program for planting for food and jobs, planting for exports and other developmental initiatives, President Akufo-Addo intimated it was undertaken in a bid to deviate from total dependence on staple commodities.
“The AfCFTA provide the enormous potential for trading investments across the various sectors which we must exploit. To take advantage of these opportunities, government has since my assumption of office in 2017 implemented various innovative and strategic interventions to promote and expand production.
“Underpinning all these initiatives is the development of a robust and resilient macro economy which will establish a strong foundation for the transformation of the Ghanaian economy. I draw attention to these programs and projects to reiterate the point that in Ghana, we have already laid the building blocks for our private sector to harness the benefits of AfCFTA”.
