Audio By Carbonatix
The implementation of a mammoth African free trade agreement will not begin on July 1 as planned due to disruptions caused by the coronavirus outbreak, a senior official said on Tuesday.
“It is obviously not possible to commence trade as we had intended on 1 July under the current circumstances,” Wamkele Mene, Secretary-General of the African Continental Free Trade Area, said during a conference call.
Mene did not say whether there was a new targeted implementation date, and left the conference call before the question and answer session.
The 55-nation continental free-trade zone would, if successful, create a $3.4 trillion economic bloc with 1.3 billion people across Africa and constitute the largest new trading bloc since the World Trade Organization formed in 1994.
Mene said he was confident the deal would still go forward.
“The political commitment remains, the political will remain to integrate Africa’s market and to implement the agreement as was intended,” he said.
Mene said that as African governments do not have the firepower to launch the same type of economic stimulus packages that the United States and Europe are putting forward to mitigate the economic damage from the coronavirus pandemic, intra-African trade could serve the same purpose.
“That’s our stimulus package. That’s how we’re going to get back on track as Africa.”
Latest Stories
-
Analysis: After allocating over ₵1bn, parliament now turns on the OSP
13 minutes -
OSP’s failure to stop Ofori-Atta is an irrecoverable mistake – Kpebu
32 minutes -
UPSA confers posthumous honorary doctorate on former first lady Nana Konadu Agyeman-Rawlings
34 minutes -
Martin Kpebu says he has not been formally charged by OSP
41 minutes -
Why not clean energy: Cost or access?
42 minutes -
Minority sounds alarm over fuel shortages crippling Ghana’s fishing communities
43 minutes -
Minority calls for urgent action to shield farmers from rising production challenges
46 minutes -
AGRA Ghana salutes Farmers as nation marks Farmers’ Day
1 hour -
Bawumia’s favourability rises, widens lead in new Global Info analytics survey
1 hour -
Minority accuses gov’t of neglect after GH¢5bn rice left to waste
1 hour -
Why Tsatsu Tsikata’s legacy is Ghana’s future
1 hour -
Farmers need support all year, not just awards’ — Prof. Boadi
1 hour -
Spotify ranks ‘Konnected Minds’ Ghana’s No. 1 Podcast for 2025
1 hour -
Minority caucus push for modern AI-driven agricultural and fisheries revolution
1 hour -
Mahama reaffirms Ghana’s commitment to ending HIV/AIDS by 2030
1 hour
