AfCFTA provides platform for Africa’s economic recovery after Covid-19 – Minister of Trade

Trade and Industry Minister Alan Kyerematen reiterated that the African Continental Free Trade Area (AfCFTA) will provide a unique platform to guide Africa’s post-Covid economic recovery effort. 19.

Mr. Kyerematen said this in his speech at the first AfCFTA-Angola Business Investment Forum in Accra.

The event is part of the activities marking the three-day official visit of Angolan President João Manuel Gonçalves Lourenço to Ghana.

The objective of the forum was to further expand bilateral trade relations by promoting bilateral investments and mutually complementary partnerships in the relations between the two countries.

The forum was to promote networking of investment opportunities to boost trade and discuss concrete solutions to attract investment, improve added value and increase exports between Angola and Ghana.

The minister said that under AfCFTA, Ghana and Angola have much to gain from working together in areas such as agriculture, fisheries, livestock, industry, oil and gas. , the petrochemical industry, the added value to their mineral resources, the development of energy resources, in particular renewable energies and the FinTech industry.

“In this regard, it should be noted that the AfCFTA Protocol on Services covers five priority sectors, namely; transport, communication, financial services, tourism and business services, which were negotiated as part of the first phase of AfCFTA negotiations, had the potential to create a strong ecosystem to support countries’ productive sectors Africans.

Mr. Kyerematen noted that Ghana and Angola are the second and third largest cassava producers in the world, with Nigeria being the first.

He said Ghana and Angola had enjoyed deep brotherly relations for many decades, based on shared values, mutual respect and a common heritage as Africans.

He noted that these fraternal relations had been further strengthened with high-level official visits between the two countries; saying, “Exactly two years ago the President of Ghana paid an official visit to Angola and this week we have the privilege of welcoming the President of Angola.

He acknowledged the support received from the government of Angola for Ghana’s bid to host the AfCFTA Secretariat.

“It is no longer a subject of international public debate that Africa is mounting. Yes, Africa is indeed rising thanks to the commitment and dedication of a new generation of African leaders who are leading the African Renaissance, and this includes President Nana Addo Dankwa Akufo-Addo and President Gonçalves Lourenço ”, Mr. Kyerematen said.

“It was the zeal and determination of our leaders that led to the historic decision to create the AfCFTA, the largest trading bloc outside the World Trade Organization,” he added.

Mr. Wamkele Mene, Secretary General of the AfCFTA Secretariat, said that the AfCFTA is defined to effectively harmonize trade in goods and services in addition to improving the business environment by reducing tariff and non-tariff barriers on the market. continent.

He noted that this decision marked a new era of trade and investment for Africa and offered a wide range of opportunities for companies from various sectors in member states.

“I am convinced that this new era of continental integration presented for Angolan and Ghanaian companies in multiple sectors, including agriculture, fishing and aquaculture, oil and petroleum activities, environment, science and technology and tourism, will be used effectively, ”he said.