Develop a strong negotiating position to take advantage of AfCFTA – TWN-Africa

Company News of Tuesday, July 9, 2019

Source: citibusinessnews.com

2019-07-09

Third World Network Africa (TWN-Africa), a pan-African advocacy and research organization, has asked the government to focus on developing a strong negotiating position in order to take advantage of the Agreement. Continental Free Trade Agreement (AfCFTA).

This comes a day after Ghana was chosen as the secretariat's host country at the 12th Extraordinary Summit of the African Union in Niamey, Niger.

Yao Graham, coordinator of Third World Network Africa, told Citi Business News that Ghana may only be known as the organizer of the secretariat if it fails to develop an advantageous position for local businesses from the full implementation of AfCFTA.

"If we want to take advantage of the AfCFTA, it will take a lot of work, a lot of consultation, a lot of research, and so on. Having the secretariat does not remove the need to do these things. Otherwise, the country could very well end up hosting the secretariat of an agreement, which other countries have better prepared to take advantage of than the country hosting the secretariat. "

Mr. Yao Graham further argued that after winning the call for bids to host the secretariat, it became even more imperative that we take seriously the challenge posed by the liberalization of the economy. AfCFTA and that we were preparing to take advantage of it or protect ourselves from the challenges presented by the agreement.

At the same time, Ghana has committed $ 10 million for the establishment of the secretariat of the African Continental Free Trade Area (AfCFTA).

Ghana defeated Egypt, Eswatini, Ethiopia, Kenya, Madagascar and Senegal at the 12th Extraordinary Summit of the African Union in Niamey, Niger, last week.

The Secretariat's main mandate will be to implement the African Continental Free Trade Area Agreement, which has since been ratified by 25 member states.

Privilege to host the secretariat

President Akufo-Addo said it was a privilege for Ghana to host the Secretariat, adding that his country was ready to donate $ 10 million to the African Union to support the implementation place of the Secretariat.