Local businesses have been tasked to improve trade ties among themselves even as Ghana gears up to host the Secretariat of the Continental Free Trade Area. 

At the 3rd Accra Chamber Business to Business Networking event in Accra, Regional Chairman of the Accra Chamber, Nana Agyenim-Boateng, explained that even as trading with other African markets was needed for economic growth, increased domestic trade goes a long way to boost volumes and make indigenous firms – especially SMEs – much competitive.

“This business to business network session is very important for business owners to learn success and investment tips from each other. They need this to also prepare themselves for the Continental Free Trade Area (CFTA) which will demand much competition,” he told JoyBusiness.

The Executive Secretary for the Ghana International Trade Commission, Frank Agyekum explained that a framework is in the works to deal with dumping and underpricing as Ghana preps up to host the much-talked-about African Continental Free Trade Area.

Even though the United Nations Economic Commission for Africa (UNECA) has laid out structures to contain and regulate trade says this framework will act as a mouthpiece and guardian for all local businesses. 

Speaking at the event, Frank Agyekum explained that “there will definitely be cases of unfair trade – dumping and smuggling – in the wake of the CFTA. This undercuts most business and that’s why we need interventions like this,” he said.

The 3rd Accra Chamber Business to Business Networking event in Accra is targeted at businesses on all ladder of economic performance. 

Highlights of the event included the exhibition of products and services, establishment of partnership and joint ventures, network among representative of participating member firms and sharing of business ideas.