Alan John Kyerematen

Alan Kyerematen, the Minister for Trade and Industry has described Ghana’s victory in becoming the host secretariat of the African Continental Free Trade Area (AfCTA) as a historical achievement.

According to the Minister, the development will open more avenues for Ghana in trade in Economic Community of West African States member countries and Africa at large.

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Speaking on Asempa FM’s Ekosii Sen show, Mr Kyerematen assured that Ghana as a trade secretariat will help boost businesses of Ghanaian local manufacturers.

“Winning this bid is a historic achievement for Ghana and Africa because it will boost and open up local businesses so far as producers have products available for the trade market.

“It will give them free access to the 54-member countries with no duties to be paid on their products and if we take this serious, we are really going to benefit a lot; we can sell anywhere in Africa to earn foreign exchange,” he assured.

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Ghana won the bid to make Ghana’s capital, Accra the Commercial Capital of Africa under AfCTA which came into force in May after clearing a key procedural hurdle and being ratified by the parliaments of 24 countries.

According to the African Union, the trade zone will bring together Africa’s 1.2 billion people into the world’s largest trade bloc which could increase intra-African trade by 60% by 2022.

Source: | Gertrude Otchere