The AfCFTA Secretariat is located in Ghana-West Africa
The 2022 Budget statement has been delivered
Ghana is host secretariat for the AfCFTA
180 companies identified for market export under the agreement
The Minister for Finance and Economic Planning, Ken Ofori-Atta has disclosed that some 180 companies have been identified to receive support in exporting to markets under the African Continental Free Trade Agreement.
The development according to Ken Ofori-Atta comes following a comprehensive National Policy and Action Plan which has been developed and is being implemented.
He explained that the Policy and Action Plan is aimed at assisting medium-to-large scale companies in Ghana to export to the AfCFTA Market.
“A comprehensive National Policy and Action Plan aimed at assisting medium-to-large scale companies in Ghana to export to the AfCFTA Market, was developed and is being implemented. To this end, 180 companies were identified to receive support to export to markets under the AfCFTA and other preferential trade agreement areas,” he told lawmakers while presenting the 2022 budget statment on Wednesday.
Providing progress on the One-District-One-Factory initiative, Ken Ofori-Atta said, “A total of 278 1D1F projects are at various stages of implementation, out of which 106 factories are operational. The companies that are currently operational have created a total of 156,782 direct and indirect jobs, 17,451 of which were created in 2021.”
“It is expected that the completion of the 1D1F projects currently under construction and in the pipeline will create additional 131,817 direct and indirect jobs in 134 districts across the country. Mr. Speaker, trading under the African Continental Free Trade Agreement (AfCFTA) commenced on 1st January, 2021, and Ghana was the first country in Africa to establish Customs Procedure Codes to facilitate trading under AfCFTA,” Ken Ofori-Atta added.
The AfCFTA implementation is expected to see a much-reduced tariff regime that will enable traders, exporters, and small and medium enterprises to transit their goods and products efficiently.
The Intra-African trade pact will see to it that 90 percent of all goods that are traded will enjoy a tariff-free regime for all countries that have signed agreements and deposited their instruments of AfCFTA ratification.