AGI content with benefits of AfCFTA, a year on

African Continental Free Trade Area African Continental Free Trade Area

Fri, 21 Jan 2022 Source: www.ghanaweb.com

AfCFTA is a year old

AGI calls for launch of tariff book

AfCFTA to bridge trade barriers between African countries

The Association of Ghana Industries (AGI) said it is impressed with the level of success that Ghanaian industries have been able to make with regard to the implementation of the African Continental Free Trade Agreement.

It’s been a year since the Free trade agreement in Africa was launched to impact socio-economic development and enhance confidence and the commitment of Africans.

However, AGI says the initiative has been very profitable to its members.

Chairman of the AGI, Greater Accra, Tsonam Akpeloo in a Citibusinessnews report said “AGI, we were extremely excited when it was launched because the head office is here in Ghana, so it remained a strategy for companies in Africa and internationally to situate their head office in Accra. So, there are several discussions this past one year to relocate companies head office to Accra and to expand the industrialisation program in Ghana.”

“There are many companies that have adjusted their production situation because of the agreement, so for the first time we have export desks in most of the companies,” he noted.

In January 2021, free trading officially commenced under the African Continental Free Trade Area with Ghana being the headquarters.

AGI in an interview with Citi Business News, however calls for the launch of the tariff book or tariff code, a document that allows investors and member countries to determine how to prioritize their production schedules.

Mr. Akpeloo stated that the tariff book will help producers eliminate some losses.

“For example, every country will have their goods that will be allowed within the trading agreement. So, I need to know which goods Senegal is allowing under the agreement in order for me to prepare to produce to supply the Senegal market. But we are only able to know this when the tariff book is ready.”

“Unfortunately, the book is not yet launched, and we were looking forward to having it launched this month. So, if it is launched, then it is easier for investors and AGI members to know as to what they should focus their investments on”, he said.

Source: www.ghanaweb.com
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