Trade Ministry Tasked to Develop Programmes of Action for AfCFTA

Trade and Industry Minister Alan Kyerematen has said that a national programme of action for the implementation of the African Continental Free Trade Area (AfCFTA) will be ready in the next three months.

He revealed this after a three-day stakeholder dialogue conference which was held to develop the right strategies to ensure the success of the AfCFTA.

Speaking at the closing of the national conference on harnessing the benefits of the African Continental Free Trade Area, Mr Kyerematen outlined the various implementation plans that would be rolled out to ensure the single trade area works.

"The national programme of action will be based on the seven clusters that have been the subject matter for our discussion and which has also been the subject matter. So, there will be a set of activities that will be implemented in respect of trade policy. It is no longer going to be the national trade policy, it will be the national trade policy with the component that is targeting specifically intra-African trade," he explained.

The free trade area seeks to create a single market for goods and services produced within the African continent.

It will also include the free movement of goods, persons and investments with efforts geared at removing all trade restrictions.

The conference brought together key stakeholders, to discuss strategies and interventions to harness the benefits of hosting the AfCFTA Secretariat in Ghana.

It also looked at the benefits the continent would derive from the agreement.

Some key topics which were discussed include: Strategy to address fragmented markets in Africa by ensuring a single continental market which would lead to economies of scale and add value to Africa's abundant natural resources.

Others were: Promotion of economic diversification and Industrialisation as well as developing regional value chains and facilitating cross border investment in Africa.

Meanwhile, Senior Minister Yaw Osafo Maafo has challenged the trade ministry to ensure strict adherence to all the implementation plans that have been set out.

Read Full Story