Business

Ghana To Start Trading Under AfCFTA

THE DEPUTY Minister of Trade and Industry, Herbert Krapa has announced that Ghana and seven other countries will start trading among themselves under the African Continental Free Trade Agreement (AfCTA).

“Actual trading is starting between Cameroon, Egypt, Kenya, Mauritius, Rwanda, Tanzania, Tunisia and Ghana. In the coming weeks, the dream of our forebears will be off the ground and historic as the moment may be”, he noted.

Speaking at the Export Trading Company seminar by the Africa Export and Import Bank, the Minister said, that will be the first time for the trading since the agreement was signed two years ago describing it as historic for all countries to emulate.

He stated “So far, 54 African countries have signed the AfCFTA Agreement. 46 have submitted their tariff offers, including Customs Union. Also, 29 tariff offers have been technically verified for trading. 87.7% of tariff lines have been agreed upon under the Rules of Origin negotiations and phase two negotiations on Investment, Intellectual Property Rights, Competition Policy, Women and Youth in Trade and Digital Trade are ongoing”.

The Minister also commended the Secretary General of AfCTA, Wamkele Mene for the role played in the implementation of the agreement.

The Secretariat has also launched the AfCFTA Initiative on Guided Trade to simply translate all the progress on paper into action.

He added “Setting up Export Trading Companies across Africa could not have come at a better time. AfCFTA is about exports and we must commend Afrexim Bank for initiating a strategy to facilitate the setting up of these Export Trading Companies”.

Mr. Krapa also explained that the establishment of export trading companies for the continent is timely for the transformation agenda.

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