Ghana: National conference on AfCFTA gathers stakeholders to discuss strategies

Ghana's President, Nana Akufo-Addo launches a three-day national conference on the Implementation of the Africa Continental Free Trade Agreement on August 19 in the country's capital, Accra.

The theme of August 19's conference is "Harnessing the benefits of the African Continental Free Trade Area for a Ghana Beyond Aid." The objective of this conference on Africa Continental Free Trade Agreement (AfCFTA) is to bring together the key stakeholders from Ghana and beyond and discuss the strategies and interventions to harness the benefits of the AfCFTA.

Ghana's Minister of Information, Kojo Oppong Nkrumah revealed the information at a media briefing in Accra recently that the West African country's President Nana Akufo-Addo would utilize the opportunity to articulate Ghana's vision for the AfCFTA towards achieving the "Ghana Beyond Aid" agenda. In this national conference, the core mandate of the secretariat is said to implement the AfCFTA that has since been ratified by 25 member states, as reported by Graphic Online.

Some of the key issues that are to be discussed at the meeting are Measures to Increase Intra-African Trade through a better Harmonisation and Coordination of Trade within the African Continent; Strategy to Address Fragmented Market in Africa by ensuring a Single Continental Market which would lead to economies of scale and Add Value to Africa's abundant Natural Resources and Promote Economic Diversification and Industrialisation; as well as Developing Regional Value Chains and facilitating Cross Border Investment in Africa; and attracting Foreign Direct Investment with Strong Regional and Local Content to help address job and other economic constraints facing the African Continent, Ghana Business News noted.

On the other hand, the AfCFTA is likely to augment the Intra-African trade by around USD 35 billion per annum or 55 percent by 2022. The import outside the African continent is expected to fall by USD 10 billion per annum. The agriculture and industrial export will increase by USD 4 billion representing 7 percent and USD 21 billion (5 percent) above the baseline respectively. The government of Ghana has insisted all participating stakeholders in making meaningful contributions towards ensuring a successful hosting of the AfCFTA and derive the necessary benefit from it.

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