Lack of collaboration in AfCFTA will delay Africa’s recovery – Bawumia

Vice-President, Dr. Mahamudu Bawumia

Vice President Dr Mahamadou Bawumia stressed the need for member countries participating in the Continental Trade Pact to collaborate and integrate, as failure to do so will delay any progress made by governments to recover their respective economies from the pandemic.

Speaking at the launch of the 2021 Africa Transformation Report on ‘Integrate to Transform’, organized by the African Center for Economic Transformation (ACET), Dr Bawumia underlined the extent to which collaboration and Integration will be the key to the success of the African Continental Free Trade Area (AfCFTA), declaring that countries must unite to overcome known challenges that may hamper progress of the trade agreement.

“My experience during the COVID crisis made very clear the urgency and importance of collaboration. Continental economic recovery and transformation is only possible with enhanced collaboration and deeper integration. The pandemic has held back transformation across Africa, but has also provided opportunities for acceleration in areas such as digitization.

“It can work in collaboration and in shared challenges. This is why we are so honored that Ghana has been chosen to host the AfCFTA secretariat. Without a doubt, the AfCFTA has the potential to be a game-changer for post-COVID recovery and transformation if we can harness its many benefits. The extent and scope of the acquisition of these benefits depend on the resolution of inadequate related infrastructure, inadequate production capacities, financing of trade development, trade information and market integration, ”he said. -he declares.

The Vice President took the opportunity to comment on what the government is putting in place to ensure the country is well prepared to undertake trade with Africa.

“The government of Ghana has also recognized the importance of addressing these critical issues. The need to generate productive jobs, support digital innovation and manage climate risks. Our policies were developed from the start with a spirit of transformation.

“This is reflected in educational initiatives such as Free Senior High School; our industrialization program anchored around a district, a factory; and our agriculture plan implemented through the Plant for Food and Jobs and Raising for Food and Jobs programs.

“We have also seen the digitization and exploitation of technology in every human activity as essential to our transformation agenda… Digital innovations will play a major role in the implementation of the AfCFTA and the ability of countries to embrace it. opportunity, ”he said.

Commenting on the report, ACET Founder and Chairman Dr Kingsley Y. Amoako said the pandemic has awakened the need for Africa to integrate and fight for its common good; therefore, his team decided to come up with recommendations for governments to explore to ensure a smooth integration process that will benefit the continent.

“Integrating to Transform explores the critical need for African countries to increase collaboration and work together, across borders, to address common challenges; exploit regional opportunities; and enable economies to evolve –– and in turn accelerate Africa’s economic transformation. Despite the serious challenges and economic uncertainties Africa is currently facing, we are living through a unique moment.

“Regional integration has long eluded our continent, but we are seeing progress. The African Continental Free Trade Area entered into force this year, for example, and it provides a path for countries to advance integration beyond trade and markets. Urgent Pan-African issues such as jobs and education, digital connectivity, climate change, infrastructure and energy need to be tackled collaboratively, not by countries working in isolation.

“Over the past year, we have seen the positive impact of governments working together as African leaders boldly respond to the pandemic to save lives. We see an opportunity for a similar approach, guided by visionary leadership, to enable transformative growth, ”he said.

ACET Principal Investigator Professor John Asafu-Adjaye also highlighted the role that digitization can play in Africa’s economic transformation, saying: “With the right policies, they can be used to transform economies. whole.

“We can do this by formulating strategies and policy frameworks to promote multiplier effects along the value chain; develop a new mix of policies with key stakeholders to respond to pressing challenges of digital, innovation and development, and stimulate investments in digital infrastructure and skills development by attracting donors and private funding.