Accra, July 12, GNA – After successfully hosting the 7th annual Ghana International Trade and Finance Conference (GITFiC) at Senchi in the Eastern region they have followed up with an action plan that will guide their activities in the coming days.
A statement signed by Mr Selassi Koffi Ackom, Chief Executive Officer of the GITFiC and copied to the Ghana News Agency in Accra named creation of African Single Currency, trade investment and dispute resolution, as major issues to be tackled for its success.
The plan according to the statement will include the involvement of Existing Monetary Unions, promote research into progress and lessons by existing Monetary Unions such as WAEMU and CEMAC, to facilitate unified Single Currency and to harmonise local financial rules with AfCFTA protocols.
It said the Regional Monetary Institutes would also deal with missed deadlines on implementation of single currency, develop National Programmes to meet macroeconomic convergence criteria within the shortest possible time and set time-bound targets on single inflation rate, budget deficit reduction towards an African single currency.
IT said the Heads of State, responsible ministries and government agencies would provide sensitization on framework of PAPSS, sensitization on the PAPSS to be scaled up and PAPSS to engage African ministries and agencies including GITFiC, National AfCFTA Implementation Offices, PAPSS Council, WAMI, AfCFTA Secretariat, Traders’ Union, Industry players, Exporters and Financial Watchers and Analysts
On Trade Investment and Dispute Resolution, they would Issue Area recommendation, Action Points, Responsibility, Timeframes and Target Beneficiaries in Low participation of MSMEs in trade
Create a robust policy which operationalises the “Lead-Industry” concept where MSMEs, Learn the innovation, culture and lessons of larger firms.
The statement said as soon as possible, Trade Unions, Chambers of Commerce, Industry Associations, and Exporters would adopt Low sensitization on AfCFTA Protocol on Dispute Settlement Mechanism, Enhance sensitization on functions of the AfCFTA Dispute Settlement Body, where GITFiC again would avail itself in this regard.
It would be done in collaboration with Resource National AfCFTA Implementation Bodies including GITFiC, AfCFTA Secretariat, and National AfCFTA Implementation Bodies for at least once a yearwith
Low Trade Investment in Africa, encourage the development of Cross Border Special Economic Zones (CBSEZ) with emphasis on upscaling production and regional value chains and develop policy for establishment of Special Economic Zones, and adequately resource existing SEZs.
With Regional Economic Communities, the statement identified, Traders, Investors for Low involvement of key stakeholders in AfCFTA, scale up involvement of stakeholders in trade in goods and services and ncourage interaction with Traditional Authorities in procurement of land for investment and promotion
of trade with Traditional Authorities, Associations of Industry across Africa and Private sector unions/associations including GITFiC
In dealing with the Private sector they would educate on slow commitment to Protocol on Free Movement on Goods and People, African countries to redouble efforts to sign and ratify Protocol on Free Movement on Goods and People and the AU Commission to engage African Ministers of Trade (AMOT) and key stakeholders.
GNA