GUTA welcomes the free trade agreement with Africa; commits to fully support the implementation

Company News of Thursday, July 18, 2019

Source: Graphic.com.gh

2019-07-18

The Greater Accra Regional Branch of the Union of Traders' Associations of Ghana (GUTA) is pleased with the implementation of the African Continental Free Trade Area (AfCFTA) Agreement and the he is committed to supporting it.

According to the badociation, the full implementation of the trade agreement would help promote local businesses on the international stage and create opportunities for their growth.

The section also said that she was optimistic that AfCFTA and Ghana's subsequent choice to host the secretariat of the continental body would create employment opportunities in the country.

Greater Accra region president David Amoateng said this in an interview with the Daily Graphic in Accra last Monday.

Minister of Commerce hailed

He congratulated the Minister of Trade and Industry, Mr. Alan Kyerematen, for the decisive role that he played in the birth of AfCFTA and called on local traders to support the implementation implementation of the trade agreement.

"We welcome the AfCFTA initiative as it will help energize local businesses and create jobs in the country, especially when the secretariat will be established here.

"We met with the Minister of Commerce about AfCFTA and its impact on retail and we were badured that the coming into effect of the agreement would not interfere with the laws on the local retail sector. We can badure our people that foreigners will not hijack the retail sector because of the ZLEAN, so they should not worry, "he said.

Mr Amoateng said that if the trade agreement were properly implemented and the government also facilitated the provision of warehouses, the local small and medium-sized enterprises (SMEs) sector would be stimulated.

Forces of order

Mr. Amoateng called on law enforcement to take steps to enforce Article 27 of the Ghana Investment Promotion Corporation (GIPC) Law No. 865 prohibiting foreigners from entering the country. participate in the retail sector in the domestic market.

The application of Article 27 of the GIPC Law has been the subject of considerable controversy. Some people said that once Ghana joined international organizations such as ECOWAS, local traders could not stop foreigners from engaging in retail business.

Mr Amoateng, however, claimed that GUTA members were not opposed to foreigners trading in the country, but rather wanted to prevent the small business from being taken over by the local population.

Context

Ghana was selected from six other countries that submitted bids to host the AfCFTA secretariat, namely Ethiopia, Kenya, Senegal, Egypt, E-Swatini and Madagascar.

In the final phases, Senegal, Ethiopia and Egypt withdrew their bids for Ghana.

The operational phase of the secretariat includes the start of the work of the interim team, which began work on 10 July, the selection and appointment of the Secretary-General and key secretariat staff on 31 December, and the establishment of the secretariat. place of a standing committee. secretariat by March 2020.

The adoption of rules of origin and the launch of AfCFTA key operational instruments are among the critical elements of the operational phase.

Key instruments include an online platform for tariff negotiations, the creation of an African Trade Observatory, digital payment and settlement systems; and an online mechanism for reporting and monitoring non-tariff barriers.

Others are a mobile application for the AfCFTA's business activities, the MANSA repository platform that will serve as a centralized database for customer due diligence and a fit-for-purpose feature. AfCFTA of a billion US dollars to manage the adverse effects of lost revenue for some countries.

Reiteration

The Secretary General of Greater Accra GUTA, Mr. Emmanuel Nana Opoku Acheampong, stressed that if a foreigner wanted to do business in the country, he had to do it within the limits of the legislation in force.

"Ghanaian traders do not ask too much. What we are simply saying is that foreigners should bring their goods. supply to Ghanaians as wholesalers; and leave the retail sector to the local people, "he said.