Member states of the African Continental Free Trade Agreement that will impede trading of goods from other member state African countries will be sanctioned by the African Union.
This is to ensure that all states enjoy a fair share of trading under the deal which has been described as the second largest in the world.
Speaking at the Ghana National Chamber of Commerce and Industry and Joy Business seminar, Technical Advisor at the Ministry of Trade and Industry, Anthony Baafi disclose that since the implementation of the African Continental Free Trade Agreement, many entrepreneurs are anticipating challenges with other countries with regards to tariff adjustments on goods and services.
Addressing members of the business community, Mr. Baafi assured that all the necessary measures have been put in place to sanction defaulting countries.
“There is an available dispute settlement mechanism which will ensure that every state party is treated fairly and I can assure you that we in Ghana have the Ghana International Trade Commission and the Ministry of Trade to help in case there is an undue advantage or unfair treatment to any of our businesses” he told the gathering.
Senior Partner at AB and David, David Ofosu Dorte urged businesses to use the agreement as a stepping stone to establish their presence on the African Continent.
Speaking to Joy Business on the Trade impasse between Ghana and Benin, Deputy Commissioner of Customs Fechin Akoto advised businesses to make a good choice considering the free trade agreement and the Ecowas Trade Liberalization Scheme.
The day’s seminar was themed, adopting the right business strategies to fully benefit.
Latest Stories
-
Zebra on loose after escape in US mountain country
39 seconds -
Apple iPhone sales fall in nearly all countries
8 mins -
Bawumia takes campaign tour to Western Region
25 mins -
Ghana and India discuss trade at the fourth JTC meeting
46 mins -
Nkwanta South: MCE kneels to beg chiefs to give peace a chance
58 mins -
NDC hopes to win a majority of votes in Ho Central
59 mins -
Ghana moves up to 50th on World Press Freedom Index
1 hour -
I will make you millionaires – Bawumia assures small-scale miners
2 hours -
Majority caucus requests reconvening of Parliament
2 hours -
Ghana ranks as 4th most stressful country for workers in Sub-Saharan Africa
2 hours -
Today’s front pages: Friday, May 3, 2024
2 hours -
CAFCC: USM Alger file appeal at CAS to contest CAF’s decisions on RS Berkane jersey
3 hours -
Africa’s Outstanding Professional, Engr. Ebenezer Kwadjo Dankyi
3 hours -
‘Only 300 businesses in Ghana meet criteria to participate in AfCFTA’
3 hours -
2024 polls: Release names, images of returning officers for scrutiny – ‘CARE Ghana’ to EC
4 hours