The chairman of the Foreign Affairs Committee of Parliament, Frank Annoh-Dompreh, has highly commended President Akufo-Addo for his political commitment in getting the Secretariat of African Continental Free Trade Area (AfCFTA) sited in the country.
He said now that the African Union had
confirmed Ghana’s hosting of the Secretariat, the country stands to gain
tremendously from employment creation, influx of goods and services and a boost
in the tourism industry.
He indicated that the upcoming intra-African
trade would generate $16 billion for African economies and make the economies
very attractive for direct foreign investments.
He said Ghana had managed to maintain ideal
bilateral relationships with other states within and outside Africa and this
certainly speaks volumes about the capability of the nation to competently
manage the AfCFTA Secretariat.
The chairman of the Foreign Affairs Committee
of Parliament, who is also the New Patriotic Party (NPP) Member of Parliament
for Nsawam/Adoagyiri, made the comments in a statement in Parliament on Tuesday
on the expected impact of the AfCFTA.
According to him, the AfCFTA would create a
single continental market for goods and services with free movement of business
persons and investments, adding that it would also definitely expand
Intra-African trade through better harmonization and coordination of trade
liberalization across the continent.
“Mr. Speaker, the AfCFTA will resolve the
challenges of multiple and overlapping memberships and also expedite the
regional and continental integration process,” he said pointing out that competitiveness
would be enhanced at the industry and enterprise levels.
“For the people in Ghana, AfCTFA Secretariat established in the country will have a great advantage that all of us need to make good use of especially in our current regime to industrialise under the ‘one district, one factory’ and produce goods sufficiently,” he stated.
By Thomas Fosu Jnr