Local authorities urged to support private sector to make AfCFTA a success

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City and metropolitan authorities are urged to empower private sector institutions in their various assemblies and communities to support the government’s work to make the African Continental Free Trade Area (AfCFTA) a success.

Trade and Industry Minister Alan Kyerematen, who launched the appeal, believes the country can benefit enormously from the agreement if local authorities and the private sector work together to improve government policies for the OK.

The Minister was speaking at the launch of the AfCFTA National Policy Framework and Action Plan to boost Ghana’s trade with Africa.

Alan Kyerematen

The Policy Framework is intended to serve as a guide for Ghana’s implementation of the Continental Free Trade Agreement. Ghana has already taken the initiative to export certain products to other neighboring countries under the agreement since its launch in 2020.

Speaking at the launch of the policy paper and action plan to boost Ghana’s trade with Africa, Mr. Kyerematen called on the authorities to support efforts to boost the private sector.

“I therefore wish that ministries, departments and agencies as well as metropolitan, municipal and district assemblies, as well as institutions such as banks, insurance companies, transport and logistics companies, all work together to give the private sector in Ghana the means to have the full benefit of the AfCFTA”.

Speaking on behalf of President Akufo Addo, Minister of Information, Kojo Oppong Nkrumah assured that the balance of payments and economic challenges faced by African countries due to external factors can be resolved when the agreement is crowned with hit.

“As you know, African countries cannot overcome the current economic challenges occasioned by the impact of the COVID-19 pandemic and the Russian-Ukrainian war if we do not develop measures to improve the productive capacities of the private sector. and increase intra-African trade Trade.

The effective operationalization of the AfCFTA in Ghana would significantly boost Ghana’s balance of trade, spur investment and innovation, diversify exports, improve food security, foster structural transformation, enhance economic growth and most importantly, provide jobs for young people.

He said successful implementation of the programs under the framework will ensure that thousands of Ghanaian businesses can ride on its back and export significantly to the African continent.

“To the Ghanaian private sector, your government is working through this initiative and others to make it relatively easy for you to access this vast market of over a billion people to enable you to trade more goods and services. Yours is to take advantage of it and work with us to resolve any startup issues that may arise. But no matter what the challenges are, be resolved to work with us, hand in hand, to make it work,” he noted.

So far, about 46 countries have ratified the agreement paving the way for trade between them.

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