Mr. Herbert Krapa, a Deputy Minister-Designate for Trade and Industry, has said the government is undertaking a number of initiatives to ensure the country benefits fully from the African Continental Free Trade Area (AfCFTA).
“A lot has been done in terms of positioning Ghana to take advantage of AfCFTA including the institutional support, the inter-ministerial committee, the steering committee, the technical working groups, and the stakeholders’ engagement platforms. All these have been put in place to ensure that Ghana takes good advantage of the platform.”
He also urged the government to identify products and companies with high potential value and give them the necessary support to benefit from the AfCFTA agreement.
“I believe that going forward we need to identify products that have export potential, identify companies that have the capacity to do so, and also identify those that we will train to ensure we take full advantage of it.”
Mr. Krapa made this known when he appeared before the Appointments Committee of Parliament for his vetting on Tuesday, June 15, 2021.
AfCFTA is an agreement among 54 African countries with an estimated potential of boosting intra-African trade by 52.3 percent by eliminating import duties.
It also seeks to establish a single market for goods and services, allowing for free movement of business travellers and investments.
Ghana hosts the AfCFTA Secretariat, which is tasked with the responsibility of coordinating the successful implementation of the Agreement.
The Secretariat operates as an autonomous organ of the African Union charged with implementing the decisions of the higher organs of the body in respect of the wide array of areas covered by the Agreement, ranging from industrialization to Intellectual Property, and from trade in professional services to the harmonisation of standards for manufactured goods.