Ghana holds confab on implementation of AfCFTA


President Nana Addo Dankwa Akufo-Addo has declared open, a three-day National Conference on the Implementation of the Africa Continental Free Trade Area (AfCFTA) Agreement in Accra.

The conference brought together key stakeholders in Ghana and beyond, to discuss strategies and interventions to harness the benefits of hosting the AfCFTA Secretariat and the benefits the African Continent would derive from it.

The theme of the conference is “Harnessing the benefit of the African Continental Free Trade Area for a Ghana Beyond Aid”.

It attracted  senior policy-makers, parliamentarians, the Business Community, academia and representatives of civil society organisations, as well as development partners and experts on trade from Ghana and beyond.

Key issues listed for discussion include Measures to Increase Intra-African Trade through a better Harmonisation  and Coordination of Trade within the African Continent and Strategy to Address Fragmented Market in Africa.

The Assembly of the Heads of State and Governments of the African Union in July, this year, selected Ghana to host the AfCFTA Secretariat at the 12th AU Extraordinary Summit in Niamey, Niger.

The Secretariat would implement the AfCFTA Agreement, which had been ratified by 25-member state.

The AfCFTA is expected to increase Intra-African trade by $35 billion  per annum or 55 per cent by 2022, while imports outside Africa is expected to decrease by $10 billion annually, whereas agriculture and industrial exports would increase by $4 billion representing seven per cent and $21 billion (five per cent) above the baseline respectively.