
Audio By Carbonatix
African countries are losing billions of dollars in potential trade earnings every year due to high trade barriers, a latest World Bank (WB) report has indicated.The report said it would be easier for Africa to trade with the rest of the world than herself, which is a far cry from the expectation and aim of African leaders who are calling for a continental free trade area by 2017 to boost trade within the continent.In a release copied to the Ghana News Agency, the World Bank said , “these high trade barriers lead to regional trade fragmentation which deprives the continent of new sources of economic growth, new jobs, and sharply falling poverty, factors which accompanied significant trade integration in East Asia and other regions”.The release said the cross-border production networks that played an important role to increase economic growth particularly in East Asia, is yet to materialise in Africa.It announced that the conclusions of WB’s report which were of particular pertinence for Ghana would be presented at a forum where analysis of the barriers to trade caused by lack of implementation of Economic Community of West African States commitments in the region would be discussed.The release said participants at the event would be expected to discuss policy responses to address these barriers, simplify and improve transparency of trade procedures in the region, and improve intra-regional collaboration among government agencies that intervened in trade procedures.“In particular, the presentation will focus on how these barriers impact on ordinary traders in Ghana when trading with Nigeria,” it said.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
From London to Accra: The UK-Ghana growth partnership in action
10 minutes -
Six dead, 34 rescued in multiple road crashes across Volta Region on Sunday
12 minutes -
NCPTA’s Deafening Silence: How parental failure, moral decay and social media excesses are turning Ghana’s schools into theatres of indiscipline
26 minutes -
Plastic pollution begins at design stage not gutters expert calls for producer responsibility
27 minutes -
Weak systems continue to hold back investment in Ghana’s plastic economy says CircularTech founder
32 minutes -
Wa East MP supports nurses, teachers with eye screening and glasses
36 minutes -
Keir Starmer says he’ll resign as Prime Minister, leader of Labour Party
36 minutes -
Child Rights International calls for ban on social media access for children under 17
37 minutes -
Kasapreko, Indigo Homes among early participants for Litina’s Made-in-Ghana World Cup Expo today
44 minutes -
McDan’s compassion fuels a new generation of entrepreneurs for Ghana and Africa
44 minutes -
Plastic pollution has spread throughout Odaw River, University of Ghana scientist warns
51 minutes -
CSOs tour reveals investing in Electrochem is an opportunity, not a risk
59 minutes -
EPA denies dismissing relatives of late Murtala Mohammed
1 hour -
AngloGold Ashanti commissions GH¢2.8 million piggery centre to boost livelihoods in Obuasi
1 hour -
Today’s Front pages: Monday, June 22, 2026
1 hour