Ghana stands to gain more from hosting AFCFTA secretariat

Minister of Trade and Industry, Mr Alan Kyeremanteng, has said the country stands to benefit in numerous ways for hosting the Secretariat of the African Continental Free Trade Area (AfCFTA).

In his opinion, there could not have been a better time than now for the Secretariat to be established in Ghana.

In-spite of Ghana’s pioneering role in the struggle for independence in Africa and subsequent contributions to the integration of the African continent, Ghana has not had the honour and privilege of hosting any AU Organ.

Speaking at the Meet the Press series in Accra on Wednesday, 10 July 2019, Mr Kyeremanteng said Ghana can and should leverage the opportunity of hosting the AfCFTA Secretariat to become the new commercial capital of Africa, a regional trade hub and economic epic-center and the new gateway to the continent.

Outlining the benefits, Mr Kyeremanteng said: “Hosting the Secretariat will promote Ghana as an attractive investment destination and actively promote Foreign Direct Investments.

“It will attract major international financial institutions and become the preferred location for siting the Corporate Headquarters of international companies doing business in Africa.

“It will provide opportunities to recruit Ghanaian professionals and administrative staff to work in the Secretariat.

“The AfCFTA will enhance Government’s current Industrial Development Agenda and contribute to the diversification of the Ghanaian economy.

“The AfCFTA will open up new market access opportunities under preferential terms for Ghanaian producers particularly SMEs.

“Ghana will have the opportunity of hosting various Regional and Continental meetings and other events associated with the AfCFTA.

“Ghana will also enjoy many other collateral benefits which would enhance income levels of many Ghanaians.”