Free Trade Agreement to Increase Trade Volumes – Annoh-Dompreh | General news



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Parliament's Foreign Affairs Committee Chairman Frank Annoh-Dompreh said the ratification of the continental free trade area (AFCFTA) agreement by 23 African countries was a breakthrough that would allow to develop the economy of Ghana and other countries. member countries.

Describing the agreement as the most important trade agreement since the creation of the World Trade Organization (WTO) in 1995, he said that this agreement would increase trade volumes between the two countries. Member countries and Europe through the removal of about 90% of customs duties.

Mr Annoh-Dompreh told the Daily Graphic in Accra on Monday that the agreement would also increase trade volumes between African member countries, as it would allow free movement of goods and people. on the continent.

In addition, he added, the deal would address the conflict and profound differences between African countries.

"It's a dream come true, it's the best thing that has come to Africa, we have to join this agreement and do everything to support it." That's the answer to our long-standing challenges. unemployment and conflict., "he said.

Africa has 1.2 billion people with a market value of more than US $ 2.5 trillion.

The AfCFTA is a trade agreement between 49 member states of the African Union (AU) with the aim of creating a single market, followed by free movement and a single monetary union.

On May 30, 2019, 23 countries signed the AfCFTA agreement, which means that it has entered into force. The agreement will work as an umbrella to which protocols and appendices will be added.

Optimism

Mr Annoh-Dompreh, MP for Nsawam-Adoagyiri (NPP) in Parliament, said critics were of the opinion that the implementation of the agreement would not succeed because of the lack of "social security". infrastructure, country differences and conflicts on the continent.

He challenged this badertion and indicated that African leaders had demonstrated that they were ready to use the agreement to resolve their differences, end the conflict and put in place the infrastructure needed to make the most of it. party of the agreement.

"I am a positive person, a 1,000-kilometer journey begins with the first step," he said.

Annoh-Dompreh said the trip was launched by pioneering African leaders such as Ghana's First President, Dr. Kwame Nkrumah and his pillars.

He added that the reality has now come for African leaders to speak with one voice to become a united and dominant trading bloc.

AfCFTA Secretariat

The legislator has urged African leaders to support Ghana's candidacy for organizing AfCFTA since Dr. Nkrumah launched the concept "and its pioneering role can not be compromised".

In addition, he added, in terms of geographical proximity, Ghana is positioning itself as the center of the world, while the country has shown leadership and has been recognized as a precursor of African history.

Mr Annoh-Dompreh said that Ghana was surrounded by French-speaking countries and had called on Côte d'Ivoire and other countries' rulers to rally behind it.

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