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General News of Monday, July 8, 2019
Source: citinewsroom.com
2019-07-08
President Akufo-Addo
Ghana has committed $ 10 million for the establishment of the secretariat of the African Continental Free Trade Area (AfCFTA).
This follows the selection of Ghana as the host country of the Secretariat.
Ghana beat 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.
It is a privilege to welcome 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.
He added that an interdepartmental committee had already been set up to work with the AU Commission.
"Ghana is ready to donate 10 million US dollars to the African Union to support the operationalization of the Secretariat. I have set up an interdepartmental committee of my government to work with the AU Commission for this purpose, "said Akufo-Addo.
"I am determined to do everything in my power to ensure the Secretariat gets off to a good start and help ensure that it becomes a world-clbad institution that will become the pride and joy of all Africans … . It is incumbent on future generations to ensure that the world's largest trading bloc, whose results will benefit all and contribute to the achievement of the "Africa we want", does not falter, "he said. he added.
While delivering Ghana's acceptance speech at the closing session of the African Union Summit, the President said: "It is a privilege that, for the first time in our history, we have the responsibility to 'host a major pan-African institution'.
With AfCFTA now the largest free trade area in the world since the creation of the World Trade Organization, it will cover a market of 1.2 billion people, with gross domestic product (GDP) $ 2.5 trillion of the fifty-four (54) African Union Member States that signed the agreement.
"We have taken very important steps to work with a common voice and a common goal to harness the abundant wealth and resources of our great continent for the benefit of all our peoples. Indeed, "the Africa we want" is achievable, "said the President.
President Akufo-Addo badured his fellow Heads of State that Ghana would make available to the Secretariat all the facilities necessary for it to function as a world-clbad organization.
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