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Finance Minister Ken Ofori-Atta said Ghana's hosting of the Secretariat of the African Continental Free Trade Agreement (AFCFTA) would create opportunities for the country to become the main center for trade facilitation and investment in Africa.
According to him, the Continental Free Trade Area – which will be the world's largest trading block with a GDP of about 3 trillion US dollars and a population of 1.3 billion – will begin the year. Economic emancipation of the continent's population.
Mr. Ofori-Atta contributed to the statement by the Minister of Trade and Industry, Alan Kyerematen, to the Parliament in Accra on the constitution of AfCFTA and the selection of Ghana to host the Secretariat.
The creation of a single market for Africa has long been the dream of the founding fathers of most major countries of the continent.
The Abuja Declaration of 1991 by the Authority of Heads of State of the Organization of African Unity envisaged the creation of an African Economic Community. One of the building blocks of the creation of this community was the creation of a Continental Free Trade Area for Africa.
The realization of this vision of a single market did not materialize until the AU Summit of Heads of State and Government in January 2012, which officially approved the decision to create an African Continental Free Trade Area. Since the adoption of this decision, many preparations and negotiations have been conducted by the Member States, culminating finally in the landmark decision of the AU Summit in Kigali on 21 March.st, 2018, to officially conclude the first phase of the negotiations of the continental free trade agreement.
Mr. Ofori-Atta also noted that since the time of Mr. Kwame Nkrumah and the work he has done for the OAU, now the African Union (AU), the AfCFTA is the first important organ of the AU to be hosted by Ghana.
He commended the determination and determination of the past presidents of Ghana to achieve this, and congratulated the Chairperson, Nana Akufo-Addo, for redoubling her efforts to convince her fellow heads of state to support Ghana's candidacy.
Mr. Alan Kyerematen, in his briefing in the House, urged Ghana to seize the opportunity to host the AfFATF secretariat and become the new commercial capital of Africa, a trade hub and an epic economic center, as well as a new gateway to the mainland. .
He added that the Secretariat's welcome would promote Ghana as an attractive investment destination and actively facilitate foreign direct investment in the country.
He also said that the Secretariat's reception would provide opportunities to recruit many Ghanaian professionals and administrative staff.
Mr. Clement Kofi Humado, Member of Parliament for Anlo, said the Vancouver Free Trade Agreement (AfCFTA) would change the game in that existing North-South trade relations – in which Africa trades more with Europe itself – must progressively evolve among African nations.
He added that CFTA will help catalyze existing regional blocs and push them to act to achieve their regional goals.
He also paid tribute to President Nana Akufo-Addo, the Minister of Foreign Affairs and the team for their lobbying skills to ensure that Ghana is selected to host the AfCFTA Secretariat in Accra.
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