Trade minister pushes private sector associations to unify
He explained that a collaborative effort among the Ghana National Chamber of Commerce and Industry (GNCCI), the Private Enterprise Federation (PEF) and Association of Ghana Industries (AGI) was crucial to help enhance the country’s trade volumes amid the operationalisation of the AfCFTA.
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Addressing the 43rd Annual General Meeting (AGM) of the GNCCI on Wednesday, in Accra, Mr Kyerematen underscored the need for the private sector to take the integration of the African market seriously in order to benefit from its gains.
“Having the privilege of hosting the AfCFTA is to make Ghana the commercial capital of Africa and we need to leverage and milk the opportunities from it.
“Africa trade with Europe is 62 per cent, with Asia is 48 per cent, North America is 42 per cent but among itself, it is less than 14 per cent.
“With this development, we have a long way to go but I hope that the GNCCI, the PEF, the AGI and other associations will form a united front and lead the process to help double our regional trade,” the minister said at a hall packed with business owners and representatives.
He observed that the structural transformation the country was currently seeking could not occur unless it was linked to the transformation of the entire continent.
According to him, the establishment of the AfCFTA was the most important development on the continent since the formation of the Organisation of African Unity (OAU) in 1963.
“I am proud that Ghana has played a key role in bringing this to fruition,” he added.
Steps in place
The President of the GNCCI, Nana Appiagyei Dankawoso I, said the private sector had started taking steps to form a united front to leverage the opportunities the AfCFTA presents.
“I want to assure you that we have started putting ourselves together to take advantage of the AfCFTA and also facilitate the accelerated development of the country,” he said.
He stated that the chamber commended the government for its commitment to the establishment of the African Continental Free Trade Agreement.
“Indeed, Ghana’s successful bid to host the secretariat for this project presents an opportunity to become the new commercial capital of Africa, a regional trade hub and economic epicenter, and the new gateway to the continent,” he said.
He explained that the private sector’s interest and support to the AfCFTA had been phenomenal.
As a representative voice of the private sector, he added that the chamber welcomed the government’s position to support the private sector as frontline actors of leveraging the AfCFTA to expand production and to lead the socio-economic transformation.
Solidarity message
The Chief Executive Officer (CEO) of the PEF, Nana Osei-Bonsu, in a solidarity message, stated that the new trade regime presented both opportunities and challenges in Africa and beyond.
Subsequently, he said, it was imperative for the private sector to be innovative and competitive in the new trade order.
According to him, the federation believed that the private sector could count on the chamber’s rich organisational experience in the area of the fairs and exhibitions, advocacy and their strong linkage with the International Chamber of Commerce (ICC).
That, he added, would help promote made-in-Ghana goods, not only in the country’s domestic market but also in West Africa, Europe and beyond.
