The Speaker of Parliament, Alban Sumana Kingsford Bagbin, has said the country’s stable political environment, transport infrastructure improvement programme and expanding port facilities in Tema and Takoradi will provide a competitive advantage that should spark the interest of international businesses.
He said the government had been deliberate in aligning its industrialisation and export diversification strategies.
Mr Bagbin said the country’s transition to an industrialised environment under the 24-hour Economy policy would also ensure continuous production, facilitate trade and enhance global competitiveness.
Marrakesh parliamentary dialogue
Mr Bagbin was speaking at the 4th Marrakesh Parliamentary Dialogue in Morocco.
The Marrakech Economic Parliamentary Forum is a leading platform for parliamentary dialogue that brings together high-level policymakers, civil society and academics across Africa, the Euro-Mediterranean, and the Gulf regions to discuss economic growth and integration.
The fourth edition of the forum was organised by the Parliamentary Assembly of the Mediterranean (PAM) and the House of Councillors of the Kingdom of Morocco, in partnership with the Parliamentary Network of the World Bank and the International Monetary Fund (IMF).
Blocs
Mr Bagbin, therefore, urged various regional economic blocs to go beyond intra-regional integration to build inter-regional partnerships to enhance trade and expand economic opportunities for mutual profit.
“We must move beyond building regional economic silos to constructing formidable relationships across regions, especially within the Euro-Mediterranean and Gulf states”, he stated.
He described Ghana as the ideal convergence point for African, Euro-Mediterranean and Gulf regional businesses.
“Ghana has a strategic advantage which positions the country to boost both intra and inter-regional trade. Not only is Ghana positioned at the centre of the world but its location on the West African coast also offers a natural gateway to both landlocked Sahelian states and global shipping lines”, Mr Bagbin added.
Policy framework
Speaking as moderator of a special session of a forum dedicated to Africa, he explained that the government of Ghana had designed a policy framework and action plan for the African Continental Free Trade Area (AfCFTA), as well as a National Export Development Strategy (NEDS) to help revitalise the country’s export development efforts with a strong focus on Africa’s over 1.3 billion consumer market.
He said the action plan provided guidelines for mainstreaming the implementation of AfCFTA through value addition to exports, developing capacity to compete effectively with imports and expanding opportunities for job creation.
