March 20, 2024

GEPA holds AfCFTA trade liberaliation seminar for exporters

The Ghana Export Promotion Authority (GEPA), in collaboration with the United Bank for Africa (UBA), Ghana, held a strategic sensitisation seminar on ‘Trade Liberalisation after the AfCFTA’ at the Africa Trade House in Accra.

The event aimed to shed light on the significant implications of the African Continental Free Trade Area (AfCFTA) for Ghanaian exporters and businesses eyeing the African market.

The seminar, attended by a diverse audience of exporters, industry stakeholders, and government representatives, featured enlightening discussions on the transformative potential of AfCFTA and its role in reshaping Africa’s economic landscape.

Highlighting the importance of the event, Dr. Afua Asabea Asare, CEO of the Ghana Export Promotion Authority (GEPA), emphasised the pivotal role of AfCFTA in fostering economic growth and sustainable development across the continent.

Dr. Asare articulated, “The AfCFTA creates a single market for goods and services, fostering a liberalised environment that promotes the movement of capital and natural persons across Africa without restrictions.

This monumental initiative promises to reduce the manufacturing gap, create sustainable companies, and generate employment opportunities, particularly for the youth, thereby transforming economies.”

Underlining GEPA’s commitment to leveraging AfCFTA for Ghana’s economic advancement, Dr. Asare elaborated on the National Export Development Strategy (NEDS), which aligns with the goals of AfCFTA.

The NEDS, built on pillars such as expansion and diversification of the supply base, improving the business regulatory environment, and enhancing human capital for industrial development and marketing, underscores Ghana’s proactive approach towards maximising the benefits of trade liberalisation.

Furthermore, Ghana’s efforts to position itself as a manufacturing and industrial hub, attracting investments from multinational corporations, were discussed. Initiatives such as the establishment of vehicle-assembling plants by renowned companies like Nissan, Toyota, and Suzuki were highlighted to underscore Ghana’s commitment to industrialisation and export-led growth.

Acknowledging the challenges faced by small and medium-sized enterprises (SMEs) in navigating the complexities of AfCFTA, efforts to support SMEs through initiatives like the sensitisation seminar and collaboration with financial institutions like UBA Ghana were emphasised.

These efforts aim to equip SMEs with the knowledge and resources needed to harness the opportunities presented by AfCFTA.

In conclusion, stakeholders were urged to engage in constructive dialogue, foster partnerships, and embrace innovative approaches to realise the shared vision of sustainable economic development.

The seminar underscores GEPA’s commitment to promoting Ghanaian exports, advancing trade facilitation and capacity building for the exporter community, and contributing to the realisation of AfCFTA’s objectives.

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