AfCFTA Will Boost Economy Of Africa – Alan Kyeremanten
The Minister of Trade and Industry, Alan Kyeremanten, has reiterated that the African Continental Free Trade (AfCFTA) Agreement would boost the economies of African countries.
According to the minister, the prospects of AfCFTA are huge and would establish economies of scale for businesses operating in Africa and add value to Africa’s abundant natural resources as well as promote economic diversification and industrialisation.
The trade Agreement which has created a single market for Africa countries is “estimated to generate a Gross Domestic Product of $3.0 trillion and to further boost trade between and among African countries to withstand economic shocks.
He was convinced that AfCFTA will enhance government’s current Industrial Transformation Agenda and contribute to the diversification of the Ghanaian economy in line with government’s Ghana Beyond Aid agenda.
He also added that the Trade Agreement would attract investors thus giving African enterprises access to larger markets.
Scaling down to Ghana, Mr. Alan Kyeremanten believes that the country is ready to support AfCFTA grow and in turn derive income benefits among others.
“Ghana will support the successful implementation of the AfCFTA for accelerated inclusive growth and development of Africa. Ghana will also enjoy many other collateral benefits, which would enhance the income levels of many Ghanaians.”