Accra, March 20, GNA- Dr. Mrs. Emelia Assiakwa, the First Vice-President of the Ghana National Chamber of Commerce and Industry (GNCCI), says there is the pressing need to remove barriers that continue to hinder Ghana’s trade competitiveness.
She acknowledged that challenges such as access to finance, high trade costs, fragmented supply chains, and inconsistent regulatory frameworks remained significant obstacles but were not insurmountable.
Dr Mrs Assiakwa was speaking at the landmark Private Sector Dinner on the theme: “Ghana’s Next Chapter in Trade & Investment” in Accra.
The event hosted by GNCCI in collaboration with TradeMark Africa (TMA) brought together business leaders, policymakers, and investors to explore strategic partnerships, trade facilitation, and economic transformation in Ghana and across the African continent.
The evening’s discussions were anchored on the African Continental Free Trade Area (AfCFTA), its potential to unlock new trade opportunities, and the role of the private sector in shaping Africa’s economic future.
She said the Chamber’s intent was to partner with TradeMark Africa to launch the Ghana Trade Competitiveness Initiative, a programme aimed at eliminating trade barriers, digitizing trade processes, and accelerating exports.
She said one of the major concerns raised was the low intra-African trade volume, which remained at just 15 per cent, compared to 50 per cent in Asia.
The First Vice-President said Ghanaian businesses still relied heavily on exporting raw materials and importing finished goods, limiting the full potential of value addition and industrialization.
The speakers said with Ghana as the host country of the AfCFTA Secretariat, the country stood at the forefront of Africa’s trade revolution, and the event provided a unique platform for industry leaders to discuss the opportunities, challenges, and policy reforms necessary for businesses to thrive under AfCFTA.
They said Ghanaian firms must target regional markets, integrate into supply chains, and expand beyond national borders.
“By aligning with AfCFTA’s regional production networks, businesses can boost competitiveness and tap into a $3.4 trillion market,” they said.
The speakers said intra-African trade could not thrive if moving goods within the continent took longer than shipping them overseas.
“Logistics costs in Africa remain among the highest in the world, making trade expensive and uncompetitive,” they said
The speakers also emphasised the need for digital trade facilitation, improved customs processes, and the adoption of the AfCFTA Digital Trade Protocol to streamline transactions.
They said the introduction of the Pan-African Payment and Settlement System (PAPSS) was a step in the right direction, but called for more regional payment systems, tailored trade finance solutions, and stronger investment in industrial hubs.
Mr Hailemariam Desalegn Boshe, TMA Board Chair and former Prime Minister of Ethiopia, underscored the importance of private sector leadership in translating trade policies into economic prosperity.
He emphasised that while governments negotiated trade agreements, it was businesses that must drive the implementation by scaling operations, integrating regional supply chains, and pushing for regulatory harmonization.
He reaffirmed TMA Africa’s commitment to working with GNCCI and Ghanaian businesses to reduce trade barriers, improve regulatory compliance, and enhance export readiness.
Mr Boshe shared success stories from East Africa, where digital customs solutions had significantly cut clearance times and reduced logistics costs.
He noted that similar innovations were now being introduced in Ghana to facilitate trade.
GNA