Stakeholders want seminars for chambers of Commerce on AfCFTA


July 11, 2018 | 4:44 pm
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Stakeholders at the ongoing ‎Afreximbank Annual Meetings in Abuja want the African Union and Heads of government’s in the continent to engage various chambers of Commerce in the continent with seminars that breaks down details of the African Continental Free Trade Area (AfCFTA).



The engagement in Seminars, the stakeholders said would ensure that the private sector take their proper place and lead in the continental free Trade Agreement,to ensure shared prosperity in the deals among Africans.



‎”The African Union must organise Seminars with Chambers of Commerce in the various countries of the continent even with Trade Union representatives to hear them out as a means of driving inclusive growth in the Continental Free Trade Area Agreement, otherwise we might fail” Bassem Lukil Grop, a Panelist said.



He noted further that the African Union must identify inherent challenges and constraints that could confront the Trade deals  while discussing it further with the business community as a strategy for addressing such problems.



Bassem,further pointed out that,”‎Business community has a lot of roles to play in the African Continental Free Trade Area Agreement .They must get involved in discussions at various levels of the continental Free Trade Agreement discussions”



Amy Jadesimi,the Chief Executive Officer of Lagos Deep Offshore Logistic base, a Pannelist said,There is already a sensitisation programme going on in different borders by the ECOWAS representatives on what the borderline traders needs to know about the continental Free Trade Area Agreement.



The other area of concern we are also working on is on constraints in free movements of goods,and persons,and we are speaking with the Customs and Immigration representatives ”



On current efforts of ECOWAS in facilitating intra-regional trade,he said,”‎There are various construction of road infrastructure going on in the West African road mappings some of which include:Lagos-Njamena,among others,and upon which if they are completed,it would aid free movement of goods,while boosting trade”



‎”Railway construction is also going on within the sub-region,to boost trade,according to him,”If you go to Cotonou to Parakou,Parakou to Niamey,we are ensuring the rail transit is working to facilitate movement of goods and persons across”


‎It would be noted that on March 21st, 44 out of 55 African leaders gathered in Rwanda to ratify the Afcta,which is easily the largest trade agreements in the continent.


The Afcta is a trade treaty among African countries targeted at opening up the continent to business and exposing it’s firms to potential $3.4 trillion opportunities.


It is further meant to create a single market for goods and services on the continent including a Customs Union with free movement of capital with persons as the focus.


The Afcta is expected to raise Africa’s nominal GDP to $6.7 trillion by 2030 all the countries sign in the continent sign up.



July 11, 2018 | 4:44 pm
  |     |     |   Start Conversation

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