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The Ghana Export Promotion Authority (GEPA), in collaboration with the Ministry of Trade and Industry and the National Coordination Office for the African Continental Free Trade Area (AfCFTA), would begin the full implementation of the AfCFTA in January next year. .
This was revealed by Mr. Samuel Dentu, Deputy Executive Director (CEO) of GEPA during a Regional Conference on the implementation of the AfCFTA and the National Export Development Strategy (NEDS) in Takoradi.
The conference was part of a series of regional conferences aimed at bringing together relevant stakeholders from the public and private sectors to discuss government export development interventions aimed at empowering Ghanaian businesses to reap the benefits of the AfCFTA.
It was on the theme: “Empowering Ghanaian Businesses to Reap the Benefits of the African Continental Free Trade Agreement under the NEDS.”
Mr. Dentu said the strategy provided clear guidelines on exports of domestically produced products, adding that Ghana was on the way to becoming an export-driven economy with one district, an export product.
He said the strategy sought to improve the supply base of Ghana’s exports of value-added products with consistency in their supply to sustain the business, improve the export regulatory framework and develop the capacity of the private sector.
In 10 years, non-traditional exports (NTE) are projected to grow from $ 2.8 billion in 2020 to $ 25.3 billion in 2029, accompanied by a profound structural transformation that positions Ghana as a competitive, export-driven industrialized economy if the NEDS is fully funded and implemented.
Dentu said there would be a removal and reduction of tariffs on export products, an efficient, stable and reliable supply of electricity and water at competitive and low rates for manufacturing industries and export-oriented companies.
He said that public procurement of locally manufactured goods and services to strengthen aggregate demand from local manufacturers and services, among other key measures, should stimulate industrialization.
Mr. Prince Adjei, Stanbic Bank Business and Finance Manager, referring to financial solutions projected to empower Ghanaian clients and businesses to benefit from the AfCFTA, said the Bank remains committed to helping clients establish their business.
He said the bank would help Ghanaians with working capital to produce or buy goods for export, depending on the viability of their business to generate sufficient profits.
Source: GNA
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