Audio By Carbonatix
Minister of Trade and Industry Alan Kyerematen has promised that Ghana will be ready with its action plan for the implementation of the Continental free trade agreement before July this year.
This follows the inauguration of seven technical working groups with the task of developing a localized strategy for the government in order for Ghana to take full advantage of the agreement.
The seven technical working groups include; trade facilitation, trade policy, enhancing productive capacity, trade-related infrastructure, trade finance, trade information and factor market integration.
Launching the technical working groups, Minister of Trade and Industry Alan Kyerematen said, “You have to have a national plan that supports the private sector in your country to develop the productive capacity to access the financing that will enable them grow their business. You need an action plan that will identify specific market information on products that can be exported to different countries; you need all these interventions to enable you to benefit as a country from the CFTA.”
Ghana has been chosen by the Assembly of Heads of State and Government of the African Union (AU) to host the Secretariat of the African Continental Free Trade Area (AfCFTA).
The core mandate of the Secretariat will be to implement the African Continental Free Trade Area Agreement, which has since been ratified by 25 member states.
With the AfCFTA now the world’s largest free trade area since the formation of the World Trade Organisation, it will cover a market of 1.2 billion people, with a combined gross domestic product (GDP) of $2.5 trillion, across the fifty-four (54) Member States of the African Union that have signed up to the Agreement.
The national steering committee is to be chaired by the Acting Chief Director of the Ministry of Trade and Industry, Patrick Nimo.
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
-
Interest payments to average a high 20% of government revenue over next 4 years
3 hours -
Strategy of accumulating foreign reserves, gold carries high fiscal cost – S&P Global
3 hours -
Weak institutional arrangements, high debt servicing constrain Ghana’s rating – S&P
3 hours -
Bond market: Turnover declined by 28% to GH¢1.56bn
3 hours -
Volta Region National Public Speaking contest advances drug prevention conversation
4 hours -
New health training facility at Ampoma-Jema to address admission shortfalls, but Minister flags missing amenities
4 hours -
Black Challenge unveiled with sights set on Amputee World Cup glory
4 hours -
Pay striking teachers before expressway spending, Dr Kingsley Agyemang tells government
5 hours -
Customs intercepts assault rifle, two pistols and 610 rounds of ammunition at Tema Port
5 hours -
PKO boxers secure wins at Odwira Festival
5 hours -
South Tongu Records Rise in Teenage Pregnancy
6 hours -
Cabinet threw out US health compact faster than anything I’ve seen – Mahama
6 hours -
MoFA urges Finance Ministry to reverse World Bank food programme withdrawal over GH¢643m commitments
6 hours -
NAGRAT demands signed timelines before calling off strike
6 hours -
National Investment Quiz: West Africa SHS, St. Louis SHS advance to semi-finals
6 hours