Ghana Web - 23 August 2022

54 African countries have signed AfCFTA Agreement – Deputy Trade Minister

Ghana’s export sector is said to be making giant strides as the Ghana Export Promotion Authority about two months ago announced a $3.3 billion increase in non-traditional export earnings for 2021. This is, however, expected to increase further with the recent launch of the National Policy Framework for the African Continental Free Trade Agreement (AfCFTA).

Speaking at a seminar on export trading companies in Accra, a Deputy Minister of Trade and Industry, Herbert Krapa, said 54 African countries have signed the AfCFTA Agreement; 46 have submitted their tariff offers, including four Customs Unions; 29 tariff offers have been technically verified for trading; 87.7% of tariff lines have been agreed upon under the Rules of Origin negotiations.

”Phase two negotiations on Investment, Intellectual Property Rights, Competition Policy, Women and Youth in Trade and Digital Trade are also ongoing.”

Mr. Krapa said Ghana and seven other countries, including Kenya, Egypt, and Cameroon have agreed to begin actual trading among themselves under the AfCFTA. This, he indicated, will be the first since the agreement was signed about two years ago.
He said the establishment of Export Trading Companies for the Continent was timely for the transformation agenda.

For his part, the Regional Chief Operating Officer of Afreximbank, Eric Monchu Intong, said as a technical partner of the AFCFTA, the bank is committed to working with all stakeholders to ensure the success of the agreement on the Continent.