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Company News of Monday, July 8, 2019
Source: thefinderonline.com
2019-07-08
President Akufo-Addo
Ghana is ready to make a $ 10 million donation to the African Union to support the establishment of the AfFTA secretariat.
As a result, the government has set up an interdepartmental committee to work with the African Union (AU) Commission to this end.
The Extraordinary Summit of the Conference of Heads of State and Government of the African Union (AU) has selected Ghana as the secretariat's host country.
Ghana has beaten Egypt, Eswatini, Ethiopia, Kenya, Madagascar and Senegal.
President Nana Addo Dankwa Akufo-Addo announced the gesture in her acceptance speech at the closing session of the summit in Niamey, the capital of Niger.
He said: "It is a privilege that, for the first time in the history of our country, we have the responsibility to host a major pan-African institution."
President Akufo-Addo badured his fellow Heads of State that Ghana would make available to the secretariat all the necessary equipment, so that it can 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 the United Nations. Law of Treaties and the Vienna Convention between States and International Organizations or between International Organizations.
President Akufo-Addo also called pan-African institutions such as the United Nations Economic Commission for Africa, the African Development Bank, the African Export and Import Bank, and the African Development Bank. other key stakeholders, including friends from Africa, to provide such support to the establishment of the secretariat.
"I am determined to do everything in my power to ensure the secretariat gets off to a good start and to help make it a world-clbad institution that will become the pride and joy of all Africans." , did he declare. .
President Akufo-Addo added, "We must help future generations to ensure that the world's largest trading bloc, whose results will benefit all and that will contribute to the realization of" Africa we want ", do not falter."
President Akufo-Addo expressed his gratitude to Senegalese President Macky Sall for resigning his candidacy for Ghana and also expressed his gratitude to the Egyptian and Ethiopian leaders, their excellencies Abdel Fattah el-Sisi and Abiy Ahmed, respectively gestures of solidarity.
While applauding the Member States that deposited their instruments of ratification at the headquarters of the African Union Commission in Addis Ababa, the President welcomed the decision by Nigeria to sign the declaration. agree, stressing that "Nigeria's membership of the Area Free Trade Agreement has significantly improved its chances of success".
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) combined $ 2.5 billion, in the 54 African Member States. Union 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.
The President urged the Assembly to request the AU Commission to prepare and implement an agreement with the host country in accordance with the Executive Council decision 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.
The secretariat's main mandate will be to implement the African Continental Free Trade Agreement, which has since been ratified by 25 member states.
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