President of Afreximbank forewords GITFiC's book on AfCFTA
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Loading... - Kesse Anim
- 09 Sep 2022
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Ahead of its launch on September 20, 2022, Ghana International Trade and Finance Conference’s (GITFiC) book entitled; Actualising the African Economic Vision; A Practical Handbook on the AfCFTA, has been prefaced by Prof. Benedict Oramah, the President and Chairman of the Board of Afreximbank.
A statement signed by Mr Selasi Koffi Ackom, Chief Executive Officer of GITFiC and copied to the Ghana News agency on Monday in Accra said Part of his two- page foreword read: “It is my immense pleasure to contribute a foreword to this commendable handbook published by the GITFiC focused on actualizing the African Economic Vision through the African Continental Free Trade Agreement.
“The Handbook is being published at a critical time in Africa’s history, when the continent is buffeted by the lingering challenges of the COVID-19 pandemic and the ongoing Ukraine crisis. These crises foreshadow intense global economic and geopolitical turbulence and shifts in the coming years. The crises have also demonstrated the necessity of the AfCFTA as being key, not only as a driver of growth and development for the continent, but also its importance in strengthening Africa’s resilience against external shocks.”
The statement said for the AfCFTA to achieve its potential and deliver its intended benefits, it was imperative that it moved from diplomatic rooms and the negotiating tables to the boardrooms, market places and shops of small businesses, where business interactions took place daily on the African continent.
It said for this to happen, the agreement, the rules, as well as the opportunities it created, must be easily accessible and understood by the African citizenry.
“This Handbook, published by the GITFiC, is a significant contribution in this regard. It has been written in clear, concise, and easily accessible language with the understanding that the main audience are not Economists, Trade Lawyers and other experts, but rather the ordinary citizens and businesses for whom the AfCFTA has been designed.
“The Handbook provides a historical context to the agreement, tracing its history and linkages to the historical ambitions for pan Africanism as envisaged by the founding fathers of the OAU. It discusses the negotiation and processes leading up to the conclusion of the Agreement, as well as the operationalization and commencement of trade. It explains some of the key rules and protocols under the agreement, including rules of origin, the protection of industries through trade remedies as well as the mechanism and procedures instituted under the Agreement for the settlement of disputes.”
It said the book also examined provisions related to trade facilitation under the AfCFTA Agreement as well as the free movement of persons as granted by the Protocol to the Abuja Treaty relating to Free movement of Persons, Right of Residence and Right of Establishment. Read More...
