Business News of Friday, 29 October 2021
Source: happyghana.com
2021-10-29
Joseph Obeng, President of the Ghana Union of Traders Association
President of Ghana Union of Traders Association (GUTA), Dr Joseph Obeng has advocated for more education on African Continental Free Trade Area (AfCFTA) to African citizens.
According to him, the initiative must never be confused with freely relocating to another African country for trade.
He reasoned that if that were to happen under the initiative, some people will try to escape their badly managed economy to burden other economies.
He shared these thoughts during the Happy Dialogue Series on the topic; ‘Understanding the relevance of AfCFTA for Ghana and Industry Players’ with Happy FM’s Don Kwabena Prah.
“Free movement of goods under the AfCFTA does not mean relocating without the basis of trading. If that were the case, some citizens whose country’s economy is in bad shape will take advantage of the situation and relocate to other African countries. Then, these African countries cannot contain the migrants. So, they need to understand that AFCTFA does not mean that you are relocating. The rules should be explained so that citizens understand them,” he said.
African Continental Free Trade Area (AfCFTA) is a flagship project of Agenda 2063 of the African Union. It was approved by the 18th ordinary Session of Assembly of Heads of State and Government, held in Addis Ababa, Ethiopia in January 2012 which adopted the decision to establish a Continental Free Trade Area. This initiative whose immediate implementation would provide quick wins, impact on socio-economic development and enhance confidence and the commitment of Africans as the owners and drivers of Agenda 2063.
The AfCFTA aims at accelerating intra-African trade and boosting Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations.