Ghana has fulfilled all its obligations towards the establishment and the setting up of the AfCFTA Secretariat in Accra, following its selection by the AU Assembly. A flagship project of the African Union’s Agenda 2063, the AfCFTAcreates a market of 1.2 billion people with a combined GDP of USD 3 trillion.
GHANA PRESIDENT Nana AddoDankwaAkufo-Addo officially commissioned and handed over the Secretariat building of the African Continental Free Trade Area (AfCFTA) to the African Union Commission in Accra late last year.
At a symbolic ceremony at the African Trade House, the President handed the keys to the Secretariat to MoussaFaki, Chairperson of the AU.He also handed a scroll, the symbol of authority, to the Secretary-General of the AfCFTA, WamkeleKeabetweMene, kickstarting Africa’s push to create the world’s largest integrated market that would boost the continent’s growth and bring prosperity for its 1.27 billion people.
The Secretariat will house the offices of the AfCFTA Secretary- General and staff who would provide administrative support for the implementation of the AfCFTA Agreement brokered by the AU that requires member states that have signed unto the agreement to remove tariffs from 90% of goods to allow for free access to commodities, goods, and services across the continent.
Akufo-Addo, in his remarks, pointed out that the coming into being of the AfCFTA was one of the most important decisions taken by the AU considering the low intra-regional trade between African nations.He noted that increased intra-regional trade would contribute to the continent’s quest to end endemic poverty and ensure the desired economic growth for Africa and its people. “The last part of the growth and prosperity that we seek will come from us trading more amongst ourselves…We in Ghana believable increasing trade is the surest way to deepen Regional integration,” he stressed. Akufo-Addo was optimistic that Africa’s new sense of urgency for
GHANA PRESIDENT Nana AddoDankwaAkufo-Addo officially commissioned and handed over the Secretariat building of the African Continental Free Trade Area (AfCFTA) to the African Union Commission in Accra late last year. At a symbolic ceremony at the African Trade House, the President handed the keys to the Secretariat to MoussaFaki, Chairperson of the AU.He also handed a scroll, the symbol of authority, to the Secretary-General of the AfCFTA, WamkeleKeabetweMene, kickstarting Africa’s push to create the world’s largest integrated market that would boost the continent’s growth and bring prosperity for its 1.27 billion people. The Secretariat will house the offices of the AfCFTA Secretary- General and staff who would provide administrative support for the implementation of the AfCFTA Agreement brokered by the AU that requires member states that have signed unto the agreement to remove tariffs from 90% of goods to allow for free access to commodities, goods, and services across the continent. Akufo-Addo, in his remarks, pointed out that the coming into being of the AfCFTA was one of the most important decisions taken by the AU considering the low intra-regional trade between African nations.He noted that increased intra-regional trade would contribute to the continent’s quest to end endemic poverty and ensure the desired economic growth for Africa and its people.
“The last part of the growth and prosperity that we seek will come from us trading more amongst ourselves…We in Ghana believable increasing trade is the surest way to deepen Regional integration,” he stressed.
Akufo-Addo was optimistic that Africa’s new sense of urgency for economic integration would lay the foundation for an ‘Africa Beyond Aid’, and make the continent truly self-reliant.And with it, will come a rapid increase in the exchange of agricultural, industrial, financial, scientific and technological products, which he said, “will significantly enhance our economic fortunes as a continent create profit and provided opportunities for employment for the broad masses of Africans, particularly the youth.”
“It will provide the vehicle for us to trade among ourselves in a more modern and sophisticated manner; it will offer a huge opportunity to exploit the abundant wealth and resources of our great continent for the benefit of all our people; and it will give us protection in how to deal with other trading blocks,” he added.
The President also indicated that the coronavirus pandemic and the attendant disruption in the global supply chain had heightened the importance of the AfCFTA and reinforced the necessity for closer integration amongst countries “so that we can boost our mutual self-sufficiency, strengthen our economies, and reduce our dependence on external sources.”
He appealed to member states who were yet to ratify the AfCFTA Agreement to do so before the AU’s next extraordinary Summit scheduled for December 2020 to pave way for the smooth commencement of trading from 2021 onwards.
“We are now the world’s largest free trade area since the formation of the World Trade Organisation, and we must make it count,” he stressed.
54 member states have signed unto the Agreement. But only 30 have so far approved its ratification.
Akufo-Addo urged the AfCFTA Secretary-General to work towards building a strong, efficient and effective Secretariat, with the capacity to implement the various trade rules, in line with the text of the Agreement, to help build credibility, and reduce trade policy uncertainty in the continent.
“The world is watching to see whether the Secretariat will, indeed, provide the springboard for Africa’s economic integration and rapid growth, and I am confident that, under your tenure, it will.Mr. Secretary-General, be rest assured of the firm support of the Government of Ghana for your work and activities,” he added.
Akufo-Addo also commended the Nigeriene leader, MahamadouIssoufou, who is also the current Chair of ECOWAS, for the work he has done in championing the African Continental Free Trade initiative.
He congratulated the South African President, Cyril Ramaphosa, current Chair of the Authority of the Assembly of the AU, for the benign, progressive guidance and supervision he has offered to make the handing over ceremony possible.
A statement on behalf of South Africa President Cyril Ramaphosa, who is the Chairperson of the AU, was delivered on the occasion of the handover ceremony of the AfCFTA Secretariat. “On behalf of the African Union and the entire Continent, I express our profound gratitude to the Government and people of Ghana for generously offering the building and residences, which house the AfCFTA. This day is indeed a milestone and a strong affirmation of the vision of an integrated Africa, which was envisioned by the founding fathers of the OAU, including Kwame Nkrumah, 57 years ago. It is a fitting tribute that the AfCFTA Headquarters are being housed in Ghana.”
“When successfully implemented, the AfCFTA will be a huge milestone towards the realisation of Agenda 2063, the Africa we want.As AU Chair, I also wish to assure you of the AU’s commitment to the successful implementation of the AfCFTA, as a practical contribution to economic development of Africa,” he added.
AfCFTA Secretary-General WamkeleKeabetweMeme noted that Africa continued to be trapped in a colonial economic model, which required the aggressive implementation of the AfCFTA as a tool for effecting a fundamental structural transformation of Africa’s economy.
“The AfCFTA is therefore a critical response to Africa’s developmental challenges. It has the potential to enable Africa to significantly boost intra Africa trade and to improve economies of scale through an integrated market.It has the potential to be a catalyst for industrial development, placing Africa on a path to exporting value-added products and improving Africa’s competitiveness both in its own markets and globally.It also sends a strong signal to the international investor community that Africa is open for business, based on a single rule-book for trade and investment,” he said.
He thanked the government and the people of Ghana, for hosting the Secretariat and for providing world class facilities that will enable Africa to progress on the historic vision of achieving an integrated Africa.
