Why AfFCTA will not succeed

• The ZLECAf has been operational since January 1, 2021

• According to GUTA, AfCFTA will fail if not properly assessed

• He made it known during a press conference in Accra

Since the implementation of the African Continental Free Trade Area (AfCFTA) in January of this year, it has been fraught with pitfalls. The main one of these stumbling blocks is the global pandemic, the coronavirus.

Although the AfCFTA Secretariat is doing its best to make this dream a reality, the Ghanaian Traders Association (GUTA) believes that the initiative will not develop as expected.

According to Association president Dr Joseph Obeng, data on the free trade zone is scarce, depriving traders of the benefits of AfCFTA.

Dr Obeng, speaking to the press during the week, hinted that the AfCFTA will only be successful if African countries only negotiate products made in their home country to prevent dumping.

He said that when this is respected, the movement will industrialize the African continent.

“The Continental Free Trade Area will not succeed … it can never be successful until we make conscious efforts to industrialize Africa to ensure that we sponsor the goods and services that are frequented on the continent.” . It is the driving force behind continental free trade. Region, ”he said.

“It is high time that the Continental Free Trade Area made African citizens aware of the dos and don’ts. If they are practicing multiple dumping, they should let us know so that if a country has obtained that his law discourages dumping, so everyone will understand that it is never in contradiction with the rules and the commitment set by continental free trade, “he added.

As part of the trade facilitation process, the AfCFTA Secretariat has signed an agreement with the African Shipping Council to help the Secretariat achieve its objectives.

AfCFTA Secretary General Wamkele Mene said AfCFTA has the potential to increase intra-African trade by 22% of total trade by 2023 as a result of the deal.

The AfCFTA has a potential market of 1.3 billion people with a total gross domestic product (GDP) of $ 3.4 trillion.

The Secretary General of the Free Trade Area urged African governments to educate their citizens, especially private companies, about the impact of AfCFTA on their businesses.