Julius Debrah, Chief of Staff, has stated that the African Continental Free Trade Area presents a major opportunity to transform Africa’s production capacity and improve the continent’s competitiveness on the global market.
He explained that the low level of trade among African countries remains a significant obstacle to economic growth, stressing the need for deliberate policies to strengthen regional economic integration.
Speaking at the Federation of West African Chambers of Commerce and Industry summit, which focused on unlocking West Africa’s economic potential through trade, investment, logistics, and youth development, he highlighted the importance of collaboration between governments and the private sector.
The summit, organised by the Ghana National Chamber of Commerce and Industry and the Federation of West African Chambers of Commerce and Industry, aimed to promote regional trade by encouraging harmonised standards and stronger private sector advocacy. It also focused on boosting investment in trade, logistics, and production through partnerships with financial institutions and development organisations.
Other key areas discussed included youth empowerment through mentorship programmes, innovation challenges, and inclusion in regional value chains. The summit also emphasised support for small and medium enterprises in areas such as digital trade, access to finance, and logistics support.
Mr Debrah noted that the summit’s theme aligns with government policies, particularly initiatives being implemented by the Ministry of Trade, Agribusiness and Industry, as well as the 24 hour economy programme, both of which are aimed at improving the business environment and increasing industrial competitiveness.
He pointed to initiatives such as the Export Expansion Programme, which is helping Ghanaian SMEs take advantage of opportunities under AfCFTA and ECOWAS, while investments in value addition continue to strengthen local production.
He also mentioned regulatory reforms such as the introduction of a one stop shop system and the Apprenticeship to Entrepreneur Programme being implemented in partnership with the Ghana Enterprise Agency to equip young people with entrepreneurial skills.
Despite these efforts, he identified major challenges including poor logistics infrastructure, fragmented standards, limited access to finance, and high trade costs, all of which continue to slow down intra regional trade.
He therefore called for stronger coordination between government, the private sector, and development partners, urging organisations like the Ghana National Chamber of Commerce and Industry and the Association of Ghana Industries to intensify advocacy, attract investment, and support business development.
Mr Debrah reaffirmed government’s commitment to strengthening regional integration, supporting SMEs and youth development, improving productive capacity, and enhancing public private collaboration to build a stronger and more prosperous West African economy.
Source: Wesleyannews.com
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