In order to position private enterprises in the nation to fully benefit from the African Continental Free Trade Area (AfCFTA), Ghana has established a national African Continental Free Trade Area (AfCFTA) Policy Framework and Action Plan.
The policy framework and action plan are designed to harmonise pertinent policies, programmes, laws, and regulations in order to increase the productive capacities of the country's private sector, especially the Micro, Small, and Medium-Sized Enterprises (MSMEs), and to fully capitalise on the advantages of the AfCFTA.
products made in Ghana
President Nana Addo Dankwa Akufo-Addo stated that a successful execution of the Action Plan will increase the capacity of the Ghanaian private sector to seize market access possibilities in a speech delivered on his behalf at the unveiling by Minister of Information Kojo Oppong Nkrumah.
He said that in order to further the country's interest in the continental project, the Ministry of Trade and Industry put national mechanisms in place, from which the Action Plan was developed.
The COVID-19 epidemic and the Russia-Ukraine war, according to the president, have created economic problems that African nations cannot overcome without developing strategies to boost the private sector's productivity and boost intra-African commerce.
a successful implementation
The effective implementation of the AfCFTA Agreement in Ghana, according to President Akufo-Addo, would significantly improve the country's trade balance, encourage investment and innovation, diversify exports, improve food security, promote structural transformation, accelerate economic growth, and, most importantly, create jobs for young people.
Therefore, he gave the Ministry of Trade and Industry and the AfCFTA Coordinating Office the order to implement the action plan's programmes as quickly, effectively, and resolutely as possible.
"This framework, as well designed as it is, will not mean anything if the programmes it supports are not implemented quickly, effectively, and with dedication.
"It is your successful implementation of the programmes under this framework that counts and will ensure that thousands of Ghanaian businesses can ride on its back and significantly increase their exports into the African continent, thereby boosting local economic activity, our growth, jobs, and earnings. So push on and don't let the obstacles that will stand in your way stop you, he said.
Confidence in the private sector
The private sector was reassured by President Akufo-Addo that the government was striving to facilitate their access to the huge market of more than a billion people via the implementation of this action plan and other measures.
Your responsibility is to benefit from it and work with us to address any difficulties that may arise throughout the teething process. But regardless of the difficulties, be determined to work together with us to overcome them.
"It is in the best interests of our country to not pass up this window of opportunity. We are devoted to mobilising the necessary financial and technical resources to help Ghanaian companies benefit fully from the AfCFTA, the official stated.
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In order to position private enterprises in the nation to fully benefit from the African Continental Free Trade Area (AfCFTA), Ghana has established a national African Continental Free Trade Area (AfCFTA) Policy Framework and Action Plan.
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