[ 2021-02-22 ]

Virtual forum on AfCFTA slated for Wednesday
All is set for a virtual forum meant to equip
Ghanaian businesses with the know-how to be able
to explore opportunities under the African
Continental Free Trade Agreement (AfCFTA).
On the theme “AfCFTA: Adopting the Right
Business Strategies to fully benefit,” the
forum, slated for February 24, seeks to provide
businesses with the needed impetus to also profit
from Africa’s over 1.2 billion consumers under
the agreement.



An initiative of the Ghana National Chamber of
Commerce and Industry (GNCCI), it seeks to host
key personalities such as Mr Clement Osei-Amoako,
President of the chamber, Mr Anthony Nyame-Baafi,
National Trade Negotiator at the Ministry of
Trade, Mr Fechin Akoto, an officer from the
Customs Division of the Ghana Revenue Authority
(GRA).

Preparation

Speaking to the Daily Graphic ahead of the forum
yesterday in Accra, the Chief Executive Officer
(CEO) of the chamber, Mr Mark Badu-Aboagye,
observed that Ghanaian businesses needed to be
adequately prepared in order to harness the market
opportunities the new initiative presents.

The AfCFTA became operational on January 1, 2020
and it is expected to create the world’s largest
free trade zone with over 1.2 billion consumers, a
potential $3 trillion economy and zero tariffs on
goods traded across countries.



“Implementation of AfCFTA has begun, and
therefore, businesses must prepare, they must now
begin to see the whole Africa as their market.

“Consequently, the chamber as a leading business
association has started preparing companies that
are into the export business to take advantage of
the huge market,” he said.

Spirit of trade

PEGAS RANA MOTTORS
For AfCFTA to be a success, the CEO stated that
stakeholders in the private sector needed to be
involved because they formed the spirit of trade
in every part of the world.

“Over the years, we have been discussing
generally about AfCFTA and its advantages but the
technicalities of the protocol have not been
demystified for businesses to understand, and so
the virtual forum creates a platform that will
address most the challenges.



“The forum is to ensure that the business
community in Ghana understands the AfCFTA
initiative and its protocols, market access and
products with competitiveness so that businesses
can really take advantage,” he said.

As a result, he said there was still work to be
done to educate the private sector on both the
opportunities and threats that this agreement
would come with and work to develop a competitive
AfCFTA strategy.

Industry persons

With the forum, Mr Badu-Aboagye stated that the
chamber had assembled key industry persons to help
more businesses to understand and participate in
the export of products into other signatory
countries.

He said businesses that would show keen interest
would be aided by the chamber with the right
impetus to export under the AfCFTA.

The CEO indicated that the forum sought to be a
periodic event that would continue to train and
prepare more businesses to explore the over 1.2
billion market under the agreement.

“The forum is targeting all businesses in the
country that wish to expand their market,” he
added.

Source - Graphic Online

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