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News of the Sunday, July 14, 2019
Source: citinewsroom.com
2019-07-14
Alan Kyeremanten
The Government states that it will put in place the necessary structures to ensure that any concerns that may arise from the implementation of the African Free Trade Area are addressed.
The entry into force of the Free Trade Agreement will mean that member countries will harmonize their trade laws to ensure an efficient exchange of goods.
Some feared to facilitate the agreement because of the legislation in force in different countries, but the Minister of Commerce, Alan Kyerematen, explained that some trade remedies would address the specific challenges of some countries.
Ghana has been chosen by the Conference of African Union Heads of State and Government (AU) to host the secretariat of the Africa Free Trade Area (AfCFTA).
In an interview with Citi News, Mr Kyerematen explained that, as part of the activities marking the CAFTA this year, a new protocol has been introduced that allows trade in financial services, construction tourism centers and other.
"There is what is called the framework agreement, that is, the overall framework agreement that sets out the principles, guidelines, and negotiating modalities of the framework agreement. such agreements. Then there is the protocol on trade in goods, which sets the conditions under which goods can be moved from one country to another. We have also negotiated a protocol on trade in services. This means that not only will the goods be traded under this year's agreement, we can also trade financial services, construction services and tourism is also available for all African countries. Commercial remedies will be available to solve your specific problems. "
AfCFTA will create opportunities to make Autonomous Africa – Nana Addo
President Nana Addo, Danquah Akufo-Addo, said he hoped that the African Continental Free Trade Agreement (ACOA) will offer African countries opportunities to develop without the badistance of other countries. foreigners.
Addressing the Ghanaian community during his visit to France, President Akufo Addo baderted that most of Africa's trade is with the European and American markets, to the detriment of Africa. # 39; Africa.
He believes the continent can help improve its gross domestic product (GDP) as intra-continental trade increases.
He mentioned that Africa has the smallest intra-community activities compared to Europe and Asia.
"We must find a way to develop the continent ourselves. We can not continue to depend on foreigners to build Africa for us … We need to significantly increase trade between us, the 28 Member States of European states, intra-European trade accounts for 70% of collective GDP and all activities the European Union is basically between them and the relationship with the world outside of Europe is relatively small, "said President Nana Akufo-Addo.
About AfCFTA
Ghana was chosen last week as host country for the secretariat of the world's largest free trade area since the creation of the World Trade Organization.
Commissioning is scheduled for March 2020. It will cover a market of 1.2 billion people, with a combined gross domestic product (GDP) of $ 2.5 trillion, in the 54 member states of the Union. African who signed the agreement.
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