Collaborate with stakeholders to improve Guided Trade Initiative under AfCFTA — Govt urged
The West African Regional Director of CUTS International, Appiah Kusi Adomako, has advised government to collaborate with stakeholders to improve the implementation of the Guided Trade Initiative (GTI) of the African Continental Free Trade Area (AfCFTA).
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The GTI is a solution-oriented approach that aims to facilitate trade between interested state parties by connecting businesses and products for export and import.
Its purpose is to enable the start of trading under the preferences of the AfCFTA Agreement among a group of State Parties that have met the minimum requirements for meaningful commercial trade.
“It is evident that knowledge and awareness of the implementation of the GTI is relatively low among Ghanaian private sector companies.
Hence, government should collaborate with key stakeholders to intensify awareness creation, capacity building training and prioritize improving the general trade facilitation framework,” he said.
Public Private Dialogue
Mr Adomako was speaking at a Public Private Dialogue (PPD) organised by CUTS International Accra with support from the GIZ-implemented Programme Support to the AfCFTA under the Trade Hub Ghana in Accra.
“Since its inception, several initiatives have been launched to promote the implementation of the AfCFTA. One of such initiatives is the GTI launched in October 2022 by the AfCFTA Secretariat in collaboration with member states.
The overarching objective of the Guided Trade Initiative is to ensure that AfCFTA is truly operational and the gains from the initiative improve implementation in order to achieve increased inter-regional and intra-Africa trade” Mr Adomako said.
He disclosed in his presentation that Ghana emerged as a leader in the Guided Trade Initiative (GTI) developed by the African Continental Free Trade Area (AfCFTA) agreement, showcasing 14 companies actively engaged in 40 trades, according to Appiah Adomako, the West Africa Regional Director of CUTS International.
Notable among the companies are Kasapreko and Ghanndour Cosmetics.
Beyond Ghana’s leadership, other nations also make significant strides in the GTI landscape. Kenya boasts 27 companies with over 50 trades, while Egypt showcases 7 companies involved in 20 trades.
Additionally, Mauritius, Rwanda, and Cameroon demonstrate noteworthy participation with 25, 8, and 4 potential trades, respectively.
“Ghana has solidified its commitment to the AfCFTA by actively participating in the GTI since its inauguration in October 2022. Out of 29 nations that submitted tariff offers, Ghana stands among the eight committed participants, including Cameroon, Egypt, Kenya, Mauritius, Rwanda, Tanzania, and Tunisia,” Mr Adomako said.
He said the GTI does not only test the environmental, legal, and trade policy basis for AfCFTA but also serves as a beacon, demonstrating the functionality of the AfCFTA agreement.
He added that the participation of nations like Ghana which is the host of the AfCFTA Secretariat, sends a powerful political message, particularly to those yet to submit their tariff concessions.
“Moreover, the GTI instills confidence across the continent, emphasizing the achievability of trading under the AfCFTA,” he said.