Parliament to Ratify Free Trade Agreement Upon Recall

Ghana could be among the few African countries to ratify the Continental Free Trade Agreement within the coming days if Parliament agrees to the pact when it resumes sitting on Thursday, April 26, 2018.

The House though on its annual recess, has been recalled to sit for two days, that is on Thursday and Friday; April 26 and 27th respectively.

Commenting on the possible reasons for the recall, the Acting Public Affairs Director of Parliament Kate Addo said the discussions on the Continental Free Trade Agreement among other pending deliberations, led to the recall.

“Essentially the agreement is to enhance free trade among African countries. Ghana is hoping to host the secretariat of the Free Trade Area organization so it is important that we consider and ratify the process as soon as possible to set the ball rolling for the free trade to kick in,” she said on Eyewitness News on Monday, April 23, 2018.

The leaders of forty-four (44) African countries have signed a deal to create one of the world’s largest free trade blocs.

The African Continental Free Trade Area (CFTA) would remove barriers to trade like tariffs and import quotas, allowing the free flow of goods and services between its members.

Madam Kate Addo also emphasised that the move should boost growth and employment in Ghana.

“So basically that is why the House is going to meet on Thursday and Friday. With the communication we got, it states categorically that for the urgent consideration. So I am assuming that time is of the essence here and it is important that we meet and do that especially since we are hoping for the secretariat to be situated here in Accra.”

Currently, trade between African countries accounts for only 10% of all commerce on the continent, compared with 25% in south-east Asia according to news agency, Reuters.

Source: Citibusinessnews