Ghana to host secretariat of African Continental Free Trade Area

General News of Monday, July 8, 2019

Source: ghananewsagency.org

2019-07-08

The Assembly of Heads of State and Government of the African Union (AU) on Sunday chose Ghana as the host country for the secretariat of the continent's free trade zone ( AfCFTA).

The decision was announced at the 12th Extraordinary Summit of the AU held in Niamey, Niger, after Ghana defeated Egypt, Eswatini, Ethiopia, Kenya, Madagascar and Senegal .

The Secretariat is primarily responsible for the implementation of the African Continental Free Trade Area Agreement, which has been ratified by 25 member states.

President Nana Addo Dankwa Akufo-Addo, in her acceptance speech at the closing session of the Summit, thanked the Assembly for its decision, stating that "it is a privilege that for the first time in the history of our country, we are an important Pan-African institution. "

He expressed gratitude to Senegalese President Macky Sall for resigning Senegal's candidacy for Ghana, and also acknowledged the similar gestures of solidarity of the Egyptian and Ethiopian leaders.

President Akufo-Addo applauded the Member States that deposited their instruments of ratification at the headquarters of the African Union Commission in Addis Ababa, and welcomed Nigeria's decision to subscribe to the Agreement.

"Nigeria's membership in the free trade zone has greatly improved its chances of success," he said.

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.

"Today 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.

In addition, and in accordance with the statutes of the AU Commission, he indicated that the Secretariat would enjoy the privileges and immunities set out in the General Convention on the Privileges and Immunities of the OAU, the Vienna Convention on diplomatic privileges and immunities and the Vienna Convention on Human Rights. treaties and the Vienna Convention between States and international organizations or between international organizations.

The President urged the Assembly to instruct the AU Commission to prepare and implement an agreement with the host country in accordance with the decision of the Executive Board EX.CL/195(VII) Rev. .1 of July 2005 on the reception of the organs of the AU; and hold consultations with Ghana and key stakeholders to prepare AfCFTA Secretariat Statutes to provide a report to the Council of Trade Ministers.

He said Ghana was ready to give $ 10 million to the African Union to support the establishment of the Secretariat, adding that an inter-ministerial committee of his government had been set up to work with the African Union. AU Commission for this purpose.

President Akufo-Addo also called pan-African institutions such as the United Nations Economic Commission for Africa, the African Development Bank, the African Export-Import Bank and other stakeholders key, including Africa's allies, to support the establishment of the Secretariat.

"I am determined to do everything I can to ensure the Secretariat gets off to a good start and to help it become a world-clbad institution that will become the pride and joy of all Africans.

"We must help 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" , did he declare.