President of the Republic Of Ghana, and Chairman Of The ECOWAS Authority, Nana Addo Dankwa Akufo-Addo, has urged members of the Authority to ensure that the African Continental Free Trade Area (AfCFTA), which began trading on 1st January 2021 succeed.
He noted that the AfCFTA, as we all know, is, arguably, the most important initiative launched by the African Union.
Speaking at the Virtual Summit 58th Ordinary Session of the ECOWAS Authority of Heads of State and Government, achieving strong economic growth, built on resilient economies, is a challenge that Africa Leaders must accept and realize and must remain focused on the implementation of programs and projects in all areas to ensure the well-being of the people and Leaders can best attain this objective by strengthening their regional integration.
The African Continental Free Trade Framework agreement has been signed by 52 African Member States and is operationalized with the necessary 22 ratifications after only three years of free trade negotiations.
“This stands for a huge diplomatic and political success given the short timeline, the ambitious liberalization goals set, and the heterogeneity and a large number of 55 Member States negotiating the Free Trade Area.”
“The course is now set to actively change reform and agree on new framework conditions, regulations, and agreements likely to foster and boost Intra-African trade, investment, and employment in the intermediate-term. Accompanying and seconding policy documents such as the African Union Trade Facilitation Strategy or the AU Services Sector Development Programme have been developed to set continental-wide guiding standards for further rolling out strategies translating them on to regional and national levels in terms of the actual implementation.”
Source: Mybrytfmonline/Kofi Atakora
