General News of Tue, 22 Aug 20177
African leaders must make economic liberalization real – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has called on his Equatorial Guinean counterpart, President Theodoro Nguema Mbasogo, to join him establish strong economic ties that will be an example for the rest of Africa to emulate.
Speaking at a State dinner organized in his honour in Malabo, Equatorial Guinea, Mr. Akufo-Addo said measures aimed at liberalizing Africa economically and encouraging trade among member states have not been successful.
According to Mr. Akufo-Addo, Equatorial Guinea and Ghana must kick start strong economic cooperation that will set the tone for transforming the whole of Africa into a dominant continental market.
“Government has committed to expanding the Tema Port into a trans-shipment hub to improve sea trade within our region and area. Ghana has been a producer and exporter of crude oil since 2011 after we discovered the resource in 2007 in President Kufuor’s time.
“Equatorial is our big brother in this regard and I believe our two countries are well equipped to share with each other valuable experience in the effective management of oil resource. Equatorial Guinea exports some million metric tonnes of LNG annually and with her proximity to Ghana, we believe your country is an excellent source for procuring reliable and sustainable LNG to augment Ghana’s domestic supply,” Mr. Akufo-Addo said.
He added that “for a country that has made the choice of pursuing integration, we have not done as much as we should have in liberalizing and encouraging trade amongst member countries.
“I believe it is extremely important for the welfare of the 1.2billion people of the continent if we the leaders demonstrate strong political will to make the AU an economic and political success to make the project of integration real, I am fully committed and I hope President Theodoro Nguema Mbasago is too.”