The government has called for collaboration from all stakeholders, public and private, to ensure that Ghana harnesses the full benefits of the African Continental Free Trade Area (AfCFTA).
Speaking at the launch of the national AfCFTA policy framework and Action Plan that seeks to boost Ghana’s trade with Africa, Hon. Alan Kyerematen, Minister for Trade and Industry, indicated that the policy framework provides the blueprint that will ensure a smooth trading with Africa but this can only be possible through public-private and private-private collaborations.
The Plan outlines the short to medium-term implementation priorities and strategies for the Ghanaian private sector to harness the full benefits of the AfCFTA.
Giving further details about that plan, Hon. Alan Kyerematen said the National AfCFTA Policy Framework and Action Plan was developed based on inputs from a broad range of stakeholders from both the public and private sectors.
“It is my wish therefore that, Ministries, Departments and Agencies (MDAs) as well as Metropolitan, Municipal and District Assemblies (MMDAs), together with institutions such as Banks, Insurance companies, Transport and Logistics companies, would all work together to empower the private sector in Ghana to harness the full benefit of the AfCFTA”.
Hon. Alan Kyerematen
Potential benefits for Ghana
Hon. Alan Kyerematen iterated that the objective of the AfCFTA is to create a continental market for goods and services, with free movement of persons and investments.
“Our vision is to transform Ghana into a modern, industrialized country which will become the new manufacturing hub of the continent. The effective implementation of the AfCFTA in Ghana, would no doubt make a significant contribution in realizing this vision. Government on its part, will provide the needed political impetus and create the enabling environment to ensure the successful implementation of AfCFTA in Ghana”.
Hon. Alan Kyerematen
The Trade Minister emphasized that Ghana as the host country for the Secretariat of the AfCFTA has a critical role to play in its implementation. Moreover, hosting the AfCFTA, he said, provides several opportunities to Ghana.
“It will enhance Ghana’s visibility as an investment destination in Africa and impact positively on the economic development agenda of the country. This requires sustained political commitment and leadership to encourage the rest of Africa to take the bold, critical but difficult steps needed to bring prosperity to the continent”.
Hon. Alan Kyerematen
Hon. Alan Kyerematen explained that this was the reason why the Ministry of Trade and Industry led the development of the National AfCFTA Policy Framework and Action Plan for Boosting Ghana’s Trade with Africa.
During the launch, there were several presentations and plenary discussions that sought to throw more light on the content of the Plan and how the private sector can leverage the opportunities to improve their trade within the continent.
Some of the areas covered included: facilitating access to AfCFTA implementation; Enhancing productive capacity of Ghanaian businesses to trade under AfCFTA; Facilitating access to finance for trade under AfCFTA; as well as improving trade facilitation and Trade-related infrastructure.
The Association of Ghana Industries (AGI), the Ghana National Chamber of Commerce and Industry (GNCCI), and the Ghana Union of Traders Association (GUTA) welcomed the plan which they believe, will help their members take full advantage of the Agreement.
The AfCFTA is a Single Market (Duty-free Quota-free) trading bloc covering the entire African Continent, with a total population of 1.3 billion and a combined Gross Domestic Product (GDP) of almost USD 3.4 trillion. It is the largest trading bloc in the world outside the World Trade Organization (WTO) with current membership of 54 countries.
