Lecturer at the Economic Department of the University of Ghana, Dr. Emmanuel Cudjoe, has stated the Africa Continental Free Trade Area (AfCFTA), will be the world's largest free trade area once it is fully up and running
He said the agreement is important for growth and job creation for Africa and its 1.27 billion people.
Speaking at a forum held by National Development Planning Commission (NDPC) to harness the benefits of African Continental Free Trade Area, Dr. Cudjoe identified that although challenges will abound in its implementation, there’s the need for African countries to adopt a joint approach with its current global trade and development partners to move each other forward.
Emphasizing on how China has a developed trade network with other industrial economies, Mr. Cudjoe said ACFTA will also enhance competitiveness within the continent through the exploitation of opportunities for scale production, continental market access and better reallocation of resources for speedy growth of the African economy.
“Our largest market and overseas power will cause more investors to want to come and invest. The more countries trade, the better their economies do. The better their economy do, the better their citizens. The increased penetration of Chinese world trade has resulted in the single most miraculous achievement of mankind. Taking 600million people out of poverty has not been achieved by any human being in history. If we can mimic the Chinese example, then we can address the significant poverty labels and the world’s largest in terms of trade.” He established.
