AfCFTA Holds Implementation Conference In Ho

The Ministry of Trade and Industry (MOTI in collaboration with the Ghana National Coordination Office of the African Continental Free Trade Agreement (AfCFTA) has held the eighth in the series of regional conferences and stakeholder engagement on the Implementation of the agreement for over 200 participants in Ho.

Participants were drawn from the Association of Ghana Industries (AGI), Ghana Union of Traders, and members of the business community in the Volta Region for the programme aimed at explaining essential modalities on AfCFTA to the entrepreneurs.

Topics covered include the comparative advantages and challenges for trading under AfCFTA, the role of Customs as the competent authority for trading under AfCFTA, regional preparedness for the implementation of the AfCFTA and pathways to harnessing its benefits.

Speaking during the opening of the conference, National Coordinator of AfCFTA, Dr Fareed Arthur said much is expected from Ghana which played a leading role in the establishment of the continental body with its headquarters in Accra to ensure the success of the free trade agreement.

He noted that although Africa, with a population of 1.4 billion, had the largest natural resources in the world to contribute to the development of other continents for 400 years, it contributed only three per cent to global trade.

 According to him, developed nations amassed wealth by trading among themselves, while trade among Africa countries only stood between 12 per cent and 15 per cent, and that highlighted the need for a paradigm change in Africa.

So far, 54 of the 55 African countries had ratified the free trade agreement, the success of which depended on the establishment of structures to open up markets for the free movement of goods, services and people across the continent.

“That also means we must explore every region in the country to identify the various business opportunities,” he added.

The Volta Regional Minister, Dr Archibald Yao Letsa, said the AfCFTA initiative was an opportunity for young people to accelerate Africa’s industrialisation and economic transformation through entrepreneurship within an enabling policy framework.

“The level of economic activity in our various areas of jurisdiction in the region is not very encouraging, a situation which is clearly reflected in the downward productivity in agriculture, financial technology, IT and in the creative industry,” he revealed.

The Volta region he said had only a few viable enterprises and the number of people they employed was also low. 

Consequently, most of these businesses were not able to export products out of the region, let alone the country, he said. 

“The Ministry of Trade and Industry, therefore, needs to be commended for coming out with the much needed initiative in the form of the conference, since the indicated objectives are tailor-made to help each one of us to succeed in our various fields of endeavour, be it within the public sector or in other capacities within the private sector entities,” Dr Letsa said.

He said apart from the education, the people stood to gain from understanding government policies, programmes and projects. The conference would also enable the private sector to get a better understanding of opportunities that existed in the region to invest in them.

Dr Letsa maintained that trade facilitation was of high interest to the government, especially in view of current economic challenges.

The Volta Regional Coordinating Director, Augustus Awity, who presented a paper on ‘Comparative advantages and challenges under AfCFTA in the Volta Region,’ said power supply in the region was erratic and poor, a situation which was not conducive to the realisation of the objectives of the free trade agreement.

Further, he said, the deficiency in the human and technological capacities of small and medium enterprises (SMEs) put them at a disadvantage, when compared to larger corporations.

Mr Awity insisted there was the need for more education on AfCFTA in the Volta Region.