Assistant Commissioner of Customs, Fechin Akoto, has advised businesses to make a good choice by considering the Africa Continental Free Trade Agreement and the ECOWAS Trade Liberalization Scheme.
The call follows reported interruption in trade between Ghanaian industries and their Benin partners.
In an interview after a sensitization seminar on AfFCTA in Accra, Fechin Akoto urged Ghanaian businesses to consider a choice between the bigger trade agreement for the continent and the ETLS, and see which one is better.
“I don’t think there should be any trade interruption or interference because of AfCFTA because this rather has enormous opportunity for traders and businesses on the continent”.
“You now have more choices to trade so that if one feels the ETLS is a good platform to benefit your business, just go ahead but if one also considers trading easily under AfCFTA then that is also a better opportunity for you to choose” he told Joy Business’s Eben Sabutey.
He therefore believes there’s no need fighting over ETLS when there are so many opportunities to trade under the AfCFTA.
The advice follows reported unfair treatment by Benin to Ghanaian businesses due to the decision by the francophone country to exit the Ecowas Trade Liberalization Scheme, a trade treaty which provides preferential tariff to member states under ECOWAS.
“Since Benin is yet to ratify the Continental Free Trade Agreement, there is no way we can sanction them or report to the African Union except to engage with the ECOWAS Commission on the matter”.
Benin since last year notified the ECOWAS trade commission of its decision to pull out from the ETLS deal pending discussions on the ratification of the African Continental Free Trade Agreement
The ETLS was promulgated as a channel to encourage internal trade among the members of the ECOWAS and thereby promote continental trade.
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