Ghana joins other African countries to discuss and implement free trade agenda

This follows a meeting of the African Continental Free Trade Area (AFCFTA) Negotiating Institutions, which started on Wednesday, December 12, 2018. It is running alongside the maiden Intra-African Trade Fair.

Under AFCFTA, Africa is seeking to build a single integrated market of over one billion people with a combined GDP of approximately $3.3 trillion, which is a key project of the African Union agenda 2063

49 countries have signed the agreement and eight countries, including Ghana, have consented to the agreement.

The agreement will be implemented when the twenty-two (22) countries deposit their instruments of ratification.

Mr Kyeremanten who spoke to reporters concerning the agreement said there had been general agreement within the framework of the AFCFTA and that there would be a general 90 per cent of tariff liberalisation, which has already been agreed.

The minister said that 10 per cent of the goods and services that would not be liberalised in terms of tariffs had also been agreed and categorised into sensitive products and products that would be excluded.

He added that “It means that apart from the agreement of 90 per cent, seven per cent of the goods that would be left would be categorised as sensitive products and three per cent as excluded.”