Africa needs CFTA to prosper economically – GNCCI

The President of Ghana National Chamber of Commerce and Industry, Nana Dr. Appiagyei Dankawoso I has stated that Africa needs Continental Free Trade Area (CFTA) to prosper economically.

Speaking at the 2017 African Prosperity Conference on the theme “The Continental Free Trade Area (CFTA) – Exploring Possibilities for Business Engagement across Africa” at the Kempinski Hotel Gold Coast City in Accra on September 12, Nana Dankawoso I said CFTA constitutes a unique opportunity to drive Africa’s transformation and development so it is his dream to secure a high-quality trade that delivers real results.

According to him, the implementation of the trade will create jobs, boost income and prosperity and also put Africa on the world stage.

He further indicated that there is so much to gain from free trade, therefore urging businesses to take advantage of it by working hard in the export sector.

The Continental Free Trade Agreement (CFTA) is a key African initiative aiming to urgently take forward the continent’s long-standing integration and development agenda. The CFTA represents a significant opportunity to redress the vulnerabilities of Africa’s economies within the global economic order that have been manifest in and deepened by the imbalances of the World Trade Organisation as well as other multilateral and bilateral trade agreements.

The establishment of the CFTA aims to create a continental market for goods and services in Africa covering over a billion people and a GDP of over USD 3 trillion.

The two-day conference on CFTA which ends on the 13th of September 2017 is organised by the Pan African Chamber of Commerce and Industry and hosted by the Ghana National Chamber of Commerce and Industry. It's being supported by the African Union and the United Nations Economic Commission for Africa.