Ghana’s Host of AFCTA would Boost Economy- Policy Analyst
BY YESMAN ANTOH-
NEW AFRICA BUSINESS NEWS, Accra, Ghana- ECOWAS policy analyst, Emmanuel Bensa says Ghana will be compelled to produce goods and behave in a manner that is consistent with world class standards as a result of the establishment of the secretariat of the African Continental Free Trade Area (AfCTA).
“Accra becoming the diplomatic capital means we will have to improve on most areas. Most people within the AU will be brought here to work. Ghana will be forced to become world class because of this bid we’ve won.
The Secretariat will ensure that the promotion of trade within West Africa happens effectively, efficiently and boost the economy.
Speaking on StarrFM this morning, he said with Ghana been the host country it would open various business opportunities to the teaming youth and also expose the economy to the rest of the world.
Also contributing to the discussion, the Information Minister, Kojo Oppong Nkrumah said the development gives Ghana its first Pan African body.
“Ghana was the first to put in the bid for the Secretariat. Ghana has its first Pan Africanist body, however, there’s a lot of work ahead. We have a lot of work to do to help the Secretariat to help deliver value.
As Africa we’ll have to raise our eyes and look beyond the continent. Our standards must match up with the standards elsewhere so we can trade more smoothly”.
Nigeria is expected to sign onto the AfCFTA at a summit of the African Union which started in Niger on July 7.
The AfCFTA came into force in May after clearing a key procedural hurdle and being ratified by the parliaments of 24 countries.
According to the AU, the zone, bringing together Africa’s 1.2-billion people into the world’s largest trade bloc, could increase intra-African trade by 60% by 2022.
BY YESMAN ANTOH, NEW AFRICA BUSINESS NEWS, BUSINESS & POLITICS, GLOBAL CORRESPONDENT
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